[ spopovic @ 01.04.2004. 10:11 ] @
NEW YORK (CNNfn) -- Cisco Systems Inc. (NSDQ:CSCO) and Microsoft Corp. (NSDQ: MSFT) Wednesday reported the largest stock transfer yet in history of IT business. Reportedly, Microsoft chairman and Chief Software Engineer Bill Gates has offered over $15bn for a 55% stock package, enabling him to take control over the largest network equipment supplier today. The reason for this may be Cisco's earnings that tumbled 86 percent in the latest quarter, and executives told analysts to be "more conservative" when setting their setting their financial expectations for the company in the coming months. "When in doubt about our goals, we would encourage you to take the conservative view," John Chambers, Cisco's chief executive, said during a teleconference Tuesday evening. He also reported the company needs a solid partnership with the software industry, "and Microsoft is the biggest kid in the playground." |