|Intel is claiming a breakthrough in processor design with its new 3-D transistors.|
Embattled networking giant Cisco ( CSCO - Get Report) announced yet more restructuring this week ahead of its forthcoming third-quarter results. The switch maker, which has been wrestling with execution problems and slumping shares, will streamline its sales, services and engineering organizations, according to a statement released before the market open on Thursday. "Cisco has driven transformational change before, and we are again transitioning to the next stage of the company's evolution," said Cisco CEO John Chambers, in the statement. "It's time to simplify the way we execute our strategy, and today's announcement is a key step forward." Following several quarters of weak sales and guidance, the networking giant is attempting to get its business back on track and satisfy investors. The latest overhaul follows Cisco's recent decision to shutter its Flip consumer video business. There are hopes, however, that Cisco could reap the benefits of a healthy spending environment when it reports its third-quarter results after market close on Wednesday. Citing a survey of 92 Cisco resellers, analyst firm Robert W. Baird has noted solid demand in the U.S. corporate sector, which is being offset by challenges in EMEA and public spending. Cisco closed up 0.46% at $17.56 on Friday. > >> Bull or Bear? Vote in Our Poll
On Tuesday, Apple ( AAPL - Get Report) introduced a revamped line of iMac computers, which use Intel's Sandy Bridge processor and the chipmaker's Thunderbolt data port technology. The new desktop iMacs feature Intel's 32-nanometer technology, which uses quad core processors and a Turbo Boost feature to crank up the computing speeds. The move, though expected, is a welcome endorsement for Intel, after the chipmaker got off to a rocky start earlier this year when it had to recall the first shipments of its new processors. Apple's chip choice, however, is bad news for graphics-chip maker Nvidia ( NVDA), which had been in previous versions of the iMacs. Shares of Apple closed down 0.03% in afternoon trading Friday at $346.66.
AT&T ( T - Get Report) and Samsung unveiled their new Infuse 4G phone at an event in New York late on Thursday, which they are touting as America's thinnest 4G smartphone. The telecom giant is also making a song and dance about the device's 4.5-inch screen, which is the largest in its smartphone lineup. Mike Woodward, vice president of AT&T's mobile device portfolio, told TheStreet that this will prove particularly useful when viewing news aggregation services and in social networking. "One of the things about Facebook is that is has become something where people communicate with each other, but also share media," he said. "People love big screens, and the thinness makes the whole device feel more manageable." AT&T shares ended the week up 0.13% at $31.26.