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Cisco Readies 'Significant' Announcement

SAN JOSE, Calif. ( TheStreet) -- Cisco (CSCO - Get Report) shares were higher in premarket trading Tuesday the day the networking-equipment company is expected to make a "significant" product announcement.

Cisco shares were trading at $26.36, after closing at $26.13 on Monday, up 3.65%.

Cisco said last month it would make an announcement Tuesday that "will forever change the Internet and its impact on consumers, businesses and government."

Pete Najarian of OptionMonster and CNBC's "Fast Money" speculates the Cisco announcement might be an explosive move by the company in the data area.

Ittai Kidron, an analyst with Oppenheimer & Co., expects Cisco to unveil a router capable of transmitting Internet traffic at 120 gigabits per second per slot, or more than 2 terabytes per device, Bloomberg reports.

On its Web site Tuesday, Cisco has a clock counting down to the 10 a.m. EST announcement. The Web site says "Cisco's next innovation will help service providers prepare for the future by delivering anywhere to anywhere experiences. On March 9, 'what's next' arrives."

-- Reported by Joseph Woelfel in New York.

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