NEW YORK ( TheStreet) -- Cisco (CSCO - Get Report), Adobe (ADBE - Get Report) and Google (GOOG - Get Report) trumpeted a few product announcements, breaking up a pretty quiet week ahead of tech earnings season.
Cisco and Google launched similar offenses, unveiling more details about their plans to invade consumers' living rooms. Looking to expand its burgeoning teleprescence/video-as-the-future plan to folks beyond enterprise, Cisco revealed a video system geared for the home. Called Umi, the solution, which sells for $600 plus a monthly charge of $25 per month, comes with an HD camera, console and a remote intended to transform TVs into live-chat and video-making stations. (See a picture from the unveiling below.)
While Cisco hones in on telepresence, Google TV is a new platform that searches for and brings web content to TV sets. The cornerstone of Wednesday's Manhattan event was the Logitech (LOGI) Revue, a $300 Android-powered set-top box marking the first piece of Google TV hardware.
Google, which according to a new report from Hitwise slightly increased its web search market share through the summer, closed up $6.34 to $536.35, up 2.04% for the week. Cisco, up 2.6% for the week, closed up 0.40% to $22.48.
We were due: the Verizon (VZ) iPhone rumors swirled again late Wednesday, when The Wall Street Journal reported what has been widely speculated and written about for months: Apple is developing a CDMA iPhone late this year, which inevitably means the Verizon iPhone will land sometime in early 2011. When asked about the rumors on Thursday, Verizon Wireless exec Lowell McAdam told press that it's up to Apple "to make that kind of announcement," according to blog Electronista. What McAdam did want to talk about was Verizon's 4G network launch, which supposedly will occur in 38 cities by year's end. Verizon shares, down slightly for the week, closed down 10 cents at $32.83.