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Follow this list to discover and track stocks that have been overbought as indicated by the RSI momentum indicator within the last week. A stock is overbought when the RSI is above 70. This list is generated daily, ranked based on market cap and limited to the top 30 stocks that meet the criteria.
Cisco Systems, Inc.
Public Service Enterprise Group Incorporated
Energy Transfer Partners, L.P.
Energy Transfer Partners, L.P. PFD UNIT SER D
Jacobs Engineering Group Inc.
The Hartford Financial Services Group, Inc. DEB FIX/FLT 42
Western Gas Partners, LP
Santander Consumer USA Holdings Inc.
Antero Midstream Partners LP
Equitrans Midstream Corporation
EnLink Midstream, LLC
With the help of the renewable deal with EDF Energy, Baker Hughes (BKR) expects to reduce emissions by 1.2 million metric tons of CO2 equivalent through the next 10 years.
Cisco (CSCO) ups its game in networking chip market with Silicon One Q100, putting Broadcom, Intel, Arista Networks, and Juniper Networks at risk.
(Bloomberg) -- SoftBank Vision Fund managing partner Praveen Akkiraju is stepping down from the behemoth investment vehicle to explore working with early stage startups in either an operational or investment role.Akkiraju joined SoftBank in April 2018 and was previously the chief executive officer of Viptela, a cloud software company that was acquired by Cisco Systems Inc. His departure was confirmed by a Vision Fund spokeswoman.Axios earlier reported Akkiraju’s exit. The outlet noted that Deep Nishar, a senior managing partner, will assume many of Akkiraju’s responsibilities including his board seat at Automation Anywhere. SoftBank’s Vision Fund invested $300 million in the San Jose, California-based robotic process automation company last November.SoftBank has raised roughly $2 billion for its second Vision Fund so it can start making new investments, people familiar with the matter said last month.Akkiraju’s departure follows the resignation of London-based Vision Fund partner David Thevenon.Akkiraju didn’t immediately respond to a request for comment.(Updates with second Vision Fund details. A previous version of this story corrected the size of first fund in story link.)To contact the reporters on this story: Giles Turner in London at email@example.com;Gillian Tan in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Goldstein at email@example.com, Robin Ajello, Jillian WardFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- Cisco Systems Inc. has started supplying switch chips to major data-center operators, including Microsoft Corp. and Facebook Inc., opening up a new avenue to win orders from some of its largest networking-equipment customers.Cisco Silicon 1 is a switch semiconductor that’s already being used by Microsoft and Facebook in crucial networking equipment, the companies said Wednesday at an event in San Francisco. San Jose, California-based Cisco is now offering the chips, which it says are the fastest in the industry, to all of its customers, regardless of whether they buy its networking machinery. Previously Cisco’s chips were only available as components of its machines.The shift toward standalone chip sales is another departure from the business model that made Cisco one of the biggest companies in the technology industry. Cisco’s expensive proprietary combinations of hardware and software make up the backbone of much of the internet and corporate networks, and these products generate the bulk of the company’s revenue. The new initiative has the potential to attract business from customers who want to build their own machines instead of buying whole packages. It also puts Cisco in direct competition with its suppliers, Intel Corp. and Broadcom Inc., which also make switch chips that the networking equipment maker uses in some of its products.“From today -- and this is something that some of you never thought we’d do -- some of our customers will buy our silicon and build their own products if that’s what they choose to do,” Chief Executive Officer Chuck Robbins said at the event. “We really want our customers to consume this technology in any way they want.”As the internet infrastructure business moves away from suppliers who provide all the needs through locked-down combinations of hardware and software, Robbins has been pushing Cisco to adapt by becoming a bigger supplier of networking services and software. On his watch, software has risen to provide about 11% of revenue. Hardware still generates more than half of sales.Cisco shares rose less than 1% to $44.24 at 2:02 p.m. in New York. The stock gained 1.8% this year through Tuesday’s close.The move into selling components is an attempt to win orders from the hyperscalers, such as Microsoft, Google and Amazon.com Inc.’s AWS, a group that has increasingly turned away from Cisco’s offerings and equipped their data centers with computers and networking gear designed in house. Those big cloud-computing vendors contribute as little as 2% of Cisco’s total sales, according to Raymond James analyst Simon Leopold.Switch chips perform the crucial function of deciding where packets of data should go in a network of computers. They are designed to handle that task at great speed, and only a few companies have been successful in the market. Broadcom is the biggest provider of this type of chip as an individual component and has as much as 80% share, Leopold said. Intel took a bigger interest in the market in June when it bought startup Barefoot Networks.Cisco’s new offering will combine the attributes of both switch and routing chips, the company said. It’ll be able to move data very quickly and still be programmable, carrying the ability to have its function changed. Routing, directing traffic among networks, is typically conducted by groups of chips that bring other attributes but are unable to direct data fast enough for modern internet traffic loads. One chip providing all of the functions will simplify the operation of networks by eliminating the need for different layers of software, Cisco executives said.Offering up what was previously guarded as a proprietary advantage shows a flexibility at Cisco that has been increasing as Robbins works to transform the company. Analysts predict the build-it-yourself approach to networking, pioneered by the large cloud-service operators, over time will be copied by companies looking to reduce the cost of their data-center spending. That corporate market is one of Cisco’s biggest sources of revenue.Cisco’s equipment, including its chips, is designed by the company and manufactured by a third party, which it hasn’t identified.The company also announced a new router machine at the event, designed to better serve as the backbone for new fifth generation, or 5G, cellular networks. The Cisco 8000 will be based on the new chip. The company also unveiled plans for products that will support faster data transmission speeds over fiber-optic cables. Like the rest of the networking industry, Cisco is positioning itself to be a main provider of equipment for the predicted surge in internet traffic and data created by the proliferation of mobile systems.(Updates with comment from Cisco CEO in the fourth paragraph.)To contact the reporter on this story: Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Cenovus Energy (CVE) expects 70% of 2020 capital spending to be used for sustaining production levels, primarily at the Foster Creek and Christina Lake oil sands operations.
Enbridge (ENB) hikes dividend for 2020, which is set to be the 25th successive year of dividend increase by the leading midstream energy infrastructure provider.
Dividend paying stocks like Public Service Enterprise Group Incorporated (NYSE:PEG) tend to be popular with investors...
Dividend paying securities are the major sources of consistent income for investors, creating wealth when returns from the equity market are at risk.
ConocoPhillips' (COP) strong and stable operations are likely to back the company to persistently grow free cash flow in the coming quarters.
Jacobs Engineering Group Inc. (NYSE:JEC) shareholders have seen the share price descend 10% over the month. But in...
Focus on high-value businesses, acquisitions and transformed portfolio is set to aid Jacobs Engineering Group's (JEC) growth. However, stiff industry rivalry and currency headwinds pose concerns.
While Cisco Systems, Inc. (NASDAQ:CSCO) shareholders are probably generally happy, the stock hasn't had particularly...
MPLX's strong and stable operations are likely to back the partnership to persistently grow its distributable cash flow in the coming quarters.
Repsol (REPYY) is expected to incur post-tax impairment charge of almost 4.8 billion euros for re-evaluating some of its hydrocarbon assets under the Paris Agreement.
ExxonMobil (XOM) has gone through an extensive study to gauge demand interests for the proposed LNG import facility in Australia, which yield lesser-than-expected commitments.