NEW YORK / ACCESSWIRE / May 27, 2014 / Market Buzz Report, which provides up to date coverage, commentary and alerts on OTC and NASDAQ Stocks, issues critical stocks analysis for Cisco Systems, Federal National Mortgage Assctn Fnni, Twitter Inc, Brocade Communications Systems
Cisco Systems, Inc.(NASDAQ:CSCO)’s shares jumped 0.57% to $24.52. Streetline and Cisco debuted at Cisco Live!™, a jointly developed, camera-based detection solution that can work in conjunction with or lieu of in-ground sensors to detect parking space occupancy. In addition, the companies unveiled a new, integrated Internet of Things (IoT) gateway that combines Streetline's low-power mesh network and Cisco® Smart+Connected Wi-Fi. The Streetline IoT Gateway allows its sensor data to be transmitted via Cisco Smart+Connected Wi-Fi.
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Additionally, the company on May 14 reported its third quarter results for the period ended April 26, 2014. Cisco reported third quarter revenue of $11.5 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.2 billion or $0.42 per share, and non-GAAP net income of $2.6 billion or $0.51 per share.
Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA)’s shares gained 0.23% to $4.33. The company on May 16 priced its fifth Multifamily DUS REMIC in 2014 totaling $1.24 billion under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS™) program on May 9, 2014.
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Additionally, the company on May 8 posted net income of $5.3 billion from January through March, its ninth straight profitable quarter, as the housing market continued to heal. Fannie's first-quarter profit compared with record net income of $58.7 billion in the same period of 2013. The year-ago figure was mainly due to a one-time accounting move that allowed the company to lower its tax liability by applying losses on delinquent mortgages to its 2013 taxes.
Twitter Inc (NYSE:TWTR)’s shares declined 3.24% to $30.50. The company on May 24 said it is planning to replicate parts of its India election strategy across countries that go to polls this year, after it emerged as a key tool for politicians and media companies during the world's largest democratic exercise. In India, Twitter Inc worked closely with politicians including the victor Narendra Modi who used the platform for election campaigning, and also partnered with mobile and media firms to distribute tweets online and offline.
Additionally, Twitter’s stock was upgraded to Hold from Sell at Wunderlich on May 16 with a $35 price target following the recent pullback in shares.
Brocade Communications Systems, Inc. (NASDAQ:BRCD)’s shares dropped 2.20% to $8.46. The company on May 22 reported financial results for its second fiscal quarter ended May 3, 2014. Brocade reported second quarter revenue of $537 million, flat year-over-year and down 5% quarter-over-quarter. The company reported a GAAP loss per share of $(0.03), compared with a profit of $0.10 per share in Q2 2013. Non-GAAP diluted EPS was $0.19, up from $0.17 in Q2 2013, principally due to higher gross margins and lower operating expenses.
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Additionally, The Brocade’s board on May 22 has approved the initiation of a quarterly cash dividend of 3.5c per share to be paid in Q3 2014.
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SOURCE: Market Buzz Report