Cisco-Splunk deal, Google denies reports of dropping Broadcom: Top Stocks

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Tech developer Cisco (CSCO) is set to acquire cybersecurity firm Splunk (SPLK) for $28 billion, which Cisco CFO Scott Herren calls 'such a powerful transaction for us' on the data front. Google parent company Alphabet (GOOG, GOOGL) denies speculations of a shaky relationship with chip maker Broadcom (AVGO) after a Reuters report claimed the tech giant was considering dropping the company as its primary AI chip supplier by 2027. Yahoo Finance Live's Josh Lipton and Akiko Fujita take a look at several trending stocks ahead of Thursday's closing bell. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.

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NEW YORK — Wall Street is tumbling again Thursday in an ugly day for stocks worldwide on expectations that U.S. interest rates will stay high well into next year. The S&P 500 was 1.4% lower in late trading. That follows a similar drop from Wednesday after the Federal Reserve indicated it may cut interest rates next year by just half what it earlier predicted.

 

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Cisco beefs up cybersecurity play with $28 billion Splunk dealCisco's offer price of $157 per share in cash represents a premium of about 31% to Splunk's Wednesday close. 'Combined, Cisco and Splunk will become one of the world's largest software companies and will accelerate Cisco's business transformation to more recurring revenue,' the companies said in a joint statement. Cisco shares were down nearly 5% in premarket, while trading in Splunk stock was halted.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Cisco buying Splunk for $28B: CFO tells YF why it's a great fitCisco (CSCO) is buying cybersecurity firm Splunk (SPLK) in a deal valued at around $28 billion. Cisco says the deal will 'accelerate' the company's 'business transformation' to becoming one with more recurring revenue.  Cisco aims to venture further into the AI market through the deal. According to CFO Scott Herren, 'there's also an opportunity for us to build AI into our products and to enable our customers to leverage AI, and that's the real opportunity here,' as Splunk's data source combined with Cisco's 'security telemetry' presents a potential synergy. Yahoo Finance Executive Editor Brian Sozzi interviews Cisco's CFO, Scott Herren, to discuss the details of the Splunk deal, Cisco's objectives in acquiring the company, and their confidence in the acquisition being an excellent match. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Cisco to acquire Splunk for $28 billion(Reuters) - Cisco Systems said on Thursday it would acquire cybersecurity company Splunk for about $28 billion. Cisco's offer price of $157 per share ...
Source: SaltWire Network - 🏆 45. / 63 Read more »