The global carrier routing and switching markets have fallen slightly in the third quarter to $2.75 billion, retreating 2.5% from same period a year ago and 1.7% from Q2. Global economic uncertainty, highlighted by the U.S. “fiscal cliff” and enduring weakness in Europe, a challenging market and hostile rivalry will keep the market under pressure, according to ACG Research.
Core routing revenues moved down as much as 10% from last year, and 2% from last quarter, ACG found. Edge routing and switching revenues fell 1.7% versus Q2 and just about flat with last year, a fall of 0.4%.
Cisco Systems, Inc. (NASDAQ:CSCO) recorded declines of 0.3% from Q2 and 0.8% from the corresponding period last year for the total market. Rival Alcatel Lucent SA (ADR) (NYSE:ALU) fell 2.16% from Q2 but was up as compared to last year’s Q3, 8.2%. ACG notes that Alcatel-Lucent is considering growth for its 100G ports in core, edge and metro applications.
Shares of Cisco (CSCO) traded up 0.24% during trading yesterday, hitting $18.96 on NASDAQ, whose benchmark S&P 500 dropped -7.35 points to 1,398.94 points. The latest closing price is 9.58% off the 52-week high of $21.30 and +24.65% above the 52-week low of $14.96. At that price, shares moved up 3.89% from the 50-day simple moving average and up 4.33% than 200-day average.
How a stock moves along with the market depends on its volatility and for this stock, the volatility of 1.89% was seen in a week and for the month was 2.25%. The majority of analysts covering CSCO stock believe it will struggle to hit 21.68.
A total of 53.08 million shares changed hands with price floating in a range of $18.84 – $19.10. However, its 30-day average volume stands at 40.56 million shares. The year-to-date (YTD) performance reflected a 6.88% gain above last year. During the past month the stock advanced 9.09%, bringing three-month performance to -0.53% and six-month performance to +17.54%.