CEO: John Chambers
Cisco shares had been on a steady rise through the first half of the year. But, the value of the networking equipment maker's shares fell in the third calendar quarter. Cisco shares plunged more than 9 percent on Aug. 14 after the company announced plans to cut 4,000 jobs. CEO John Chambers said the move was designed to make the company leaner and more nimble, rather than a need to cut costs. And Cisco shook up the industry when it disclosed plans to buy solid-state storage system maker Whiptail for $415 million. While Cisco said the acquisition did not signal a move by the company into the general storage system market, it raised questions about the company's commitment to its VCE joint venture with EMC. In July, Cisco said it would acquire Cybersecurity system maker Sourcefire for $2.7 billion.