Cisco Systems Reports Solid Fiscal Third Quarter and Tesla CEO Elon Musk Says There is a Need for Gigafactories
Cisco Systems, Inc. (NASDAQ: CSCO) released their fiscal third-quarter report that beat analyst targets on both the top and bottom lines. The company also gave a promising outlook for the fourth quarter. For Q1, Cisco expects sales to decline something like 2% year over year. Analysts had currently projected a 4% revenue drop. Cisco's adjusted earnings guidance came out to about $0.52 per share, which also was ahead of the consensus analyst target.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol (IP) and other products related to the communications and information technology industry worldwide. It provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, access points, and servers, as well as function as aggregators on local-area networks and wide-area networks; and routers that interconnects public and private wireline and mobile networks for mobile, data, voice, and video applications.
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Tesla Motors, Inc. (NASDAQ: TSLA) CEO Elon Musk has said that the need for lower-cost batteries for autos and power storage means that there will be a need for hundreds of “gigafactories” like the one Tesla is planning to build. The company anticipates the battery factory will reduce the cost of lithium-ion cells by more than its initial guidance of 30 percent, Musk said.
Tesla Motors, Inc. designs, develops, manufactures, and sells electric vehicles and electric vehicle powertrain components. The company also provides services for the development of electric powertrain systems and components, and sells electric vehicle powertrain components to other automotive manufacturers. It markets and sells its vehicles through Tesla stores and galleries, as well as over the Internet.
Get more information on Tesla Motors, Inc. and free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/TSLA
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