Corning, Cisco to Develop Optical Networking Products
Cisco(CSCO) and Corning(GLW) agreed to jointly develop optical equipment for the Internet.
The companies didn't disclose the financial terms of the deal, but said the agreement, which integrates Corning's optical fiber and photonic products with Cisco's optical networking products, aims to speed the deployment of optical networks. Cisco and Corning will form teams to develop pre-engineered optical products. In addition, Corning will supply optical amplifiers to Cisco. Shares of both companies were recently higher, with Cisco climbing 3.5%, or $1.75, to $52.13 in Nasdaq trading, while Corning rose 9.3%, or $5.50, to $64.50 on the New York Stock Exchange. On Oct. 26, Corning said it would buy Cisco's 10% stake in the optical components business of Italy's Pirelli for Corning stock. In September, Corning agreed to buy Pirelli's 90% stake in the business for $3.6 billion.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,801.23 | 1,342.64 | 2,903.88 | 19.69 |
Oil *
117.67
|
|
DOWN
89.23 |
DOWN
9.31 |
DOWN
23.35 |
DOWN
0.78 |
10 Yr
1.97%
SPDR Gold
167.14
|
|
-0.69%
|
-0.69%
|
-0.80%
|
-3.81%
|
Data delayed 20 minutes |
Connect with TheStreet