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☆ SEC settles insider trading charges against Andy Bechtolsheim, co-founder of Arista, Sun Microsystems
▼ + stars: | 2024-03-26 | by ( Alex Koller | ) www.cnbc.com time to read: +3 min

Andreas "Andy" Von Bechtolsheim, co-founder of Arista Networks Inc., speaks during a Bloomberg West television interview in San Francisco, California, U.S., on Thursday, May 2, 2013. Andy Bechtolsheim, the co-founder of Sun Microsystems and Arista Networks , has reached a settlement with the SEC on insider trading charges that will cost him close to $1 million and bars him from serving as a public company officer or director for five years. Cisco announced its agreement to buy networking company Acacia for $70 per share in a $2.6 billion deal, driving Acacia's stock up 35%. "While the SEC announcement did not involve any trading in Arista securities, Arista takes compliance to the company's code of conduct and insider trading policy seriously," an Arista spokesperson told CNBC in an email. Bechtolsheim, who lives in Incline Village, Nevada, co-founded Arista in 2004 and took the company public a decade later.

Persons: Andreas, Andy, Von Bechtolsheim, Andy Bechtolsheim, Bechtolsheim, Bechtolsheim confidentially, didn't, Scott McNealy, Vinod Khosla, Bill Joy Organizations: Arista Networks Inc, Bloomberg West, Sun Microsystems, Arista Networks, SEC, Acacia Communications, Cisco, Arista, Acacia, Bechtolsheim, CNBC, Oracle, Sun Locations: San Francisco , California, U.S, San Jose , California, Incline Village , Nevada

☆ China does Intel a small favor
▼ + stars: | 2023-08-16 | by ( Jonathan Guilford | ) www.reuters.com time to read: +3 min

Acquire Licensing RightsNEW YORK, Aug 16 (Reuters Breakingviews) - Intel (INTC.O) can thank China later. The chipmaker on Wednesday terminated its $5.4 billion acquisition of Tower Semiconductor (TSEM.TA), after failing to secure approval from the country’s State Administration for Market Regulation. Beijing’s trustbusters are providing a helpful escape route from the intensifying technology trade war. Reuters GraphicsAdding Tower would have helped Intel boss Pat Gelsinger with his strategic pivot to making semiconductors designed by others. Tower uses old technology, however, while Intel’s new customers, including the U.S. Department of Defense and Qualcomm, want cutting-edge fabrication.

Persons: Pat Gelsinger, MaxLinear, China’s, Jeffrey Goldfarb, Sharon Lam Organizations: Dow Jones Industrial, Intel, Reuters, Tower Semiconductor, Administration, Market, NXP Semiconductors, U.S . Department of Defense, Qualcomm, Wall Street Journal, Motion Technology, Cisco Systems, Acacia Communications, Thomson Locations: San Diego , California, China, country’s, Washington, Beijing

☆ Cisco shares pop on earnings beat and increased 2023 forecast
▼ + stars: | 2022-11-16 | by ( Ashley Capoot | ) www.cnbc.com time to read: +1 min

Cisco reported fiscal first-quarter results on Wednesday that beat analysts' estimates and boosted its guidance for fiscal 2023. Here's how the company did:Earnings per share: 86 cents vs. 84 cents expected , according to Refinitiv86 cents vs. 84 cents expected according to Refinitiv Revenue: $13.6 billion vs. $13.3 billion expected by analysts, according to RefinitivRevenue increased 6% year over year, while net income slid 10% to $2.7 billion. The company now expects sales growth in fiscal 2023 of 4.5% to 6.5%, up from a prior forecast that called for growth of 4% to 6%. Cisco's top business segment, which includes data-center networking switches, delivered $6.68 billion in revenue, up 12% from a year earlier. Sales in the Collaboration segment, which features Webex, contributed $1.1 billion in revenue, down 2% year over year.

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