Cisco's Home Invasion: Weekly Tech Recap

NEW YORK (TheStreet) -- Cisco (CSCO), Adobe (ADBE) and Google (GOOG) 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.)
Umi Cloud

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.

Adobe, which recently found a little relief regarding its contentious relationship with Apple ( AAPL), saw its shares surge nearly 12% late Thursday when The New York Times reported that the CEOs of Adobe and Microsoft ( MSFT) "secretly" met, discussing a potential partnership or Microsoft buy of Adobe. After the media maelstrom Friday, Wall Street dissed the rumors, sending Adobe shares back down 6% to close at $26.99.

Gadget Launches

Besides Google's and Cisco's launches this week, Hewlett-Packard ( HPQ), which last week finally announced its new (albeit surprising choice for) CEO, shed a little long-awaited light on its Palm brand. HP will launch smartphones based on the Palm OS early next year.

Motorola ( MOT) continued its Android invasion by launching the Droid Pro on Tuesday. The phone, which combines a 3.1-inch touch-screen with a full portrait keyboard, is seen as a formidable competitor to Research In Motion's ( RIMM) BlackBerry lineup, which continues to help its maker lose market share to Google and Apple.

Tech's Week Ahead

Microsoft takes another crack at the mobile phone market on Monday, when it launches its Windows Phone 7 at a morning press conference in New York City. Microsoft hopes Windows Phone 7 will bridge the gap in the apps development market -- a world that it says is divided between Apple's "walled garden approach" and Android's too free-for-all system -- by enticing developers to use its Azure cloud to make it more seamless to create cross-platform programs.

Check out video and pictures of the new phones by tuning into TheStreet's live blog of the event, which starts Monday at 9:30 a.m. ET (see reminder link below).

Lastly, Google reports its third-quarter financials Thursday at 4:30 p.m. ET. We'll have the numbers as they cross the wires as well as comments from the Google execs' call on outlook and new initiatives. Analysts surveyed by Thomson Reuters are expecting the firm to report $6.76 EPS on quarterly revenue of $5.25 billion.

--Written by Maggie Overfelt in New York.

>>>To follow the writer on Twitter, go to http://twitter.com/maggieoverfelt.

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