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Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019. Activist investor Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing for a shakeup to the company's board. Upwork shares rose more than 3% on the news in pre-market trading Friday. Engine singled out several Upwork directors, including Chairman Thomas Layton and Greg Gretsch, for their lengthy tenures. Meanwhile, none of Upwork's directors have any apparent experience in staffing industry, the activist said.
Persons: Hayden Brown's, Brown, Arnaud Ajdler, Thomas Layton, Greg Gretsch, Splunk, Gary Steele, Ajdler, Upwork, Fiverr, Upwork didn't Organizations: CNBC Locations: Silicon, View , California
Cisco reported earnings and revenue for the fiscal third quarter that topped Wall Street's estimates, even with sales dropping from a year earlier. Net income fell 41% to $1.89 billion, or 46 cents per share, from $3.21 billion, or 78 cents per share, a year earlier. The deal lowered Cisco's adjusted earnings per share by a penny but provided $413 million in additional revenue. Cisco bumped up its fiscal 2024 revenue guidance to a range of $53.6 billion to $53.8 billion, from $51.5 billion to $52.5 billion in February. WATCH: Cisco CEO Chuck Robbins: $28 billion Splunk deal will be a significant financial growth driver
Persons: Chuck Robbins, Robbins, LSEG, Gary Steele, Jeff Sharritts Organizations: Cisco, Bloomberg, Economic, Networking Locations: Davos, Switzerland, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCisco CEO Chuck Robbins: $28 billion Splunk deal will be a significant financial growth driverChuck Robbins, Cisco chairman and CEO, and Gary Steele, Splunk former CEO, joins 'Squawk on the Street' to discuss Cisco's $28 billion deal to acquire data services company Splunk, inventory issues, AI competition, and more.
Persons: Chuck Robbins, Gary Steele Organizations: Cisco
AI lowers the barriers for cyber attackers, says Splunk CEO
  + stars: | 2024-01-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAI lowers the barriers for cyber attackers, says Splunk CEOAttackers are going to see immediate benefits of AI, using deep fakes and more to drive sophisticated attacks, says Gary Steele, president and CEO of Splunk.
Persons: Gary Steele Organizations: Attackers
Nov 1 (Reuters) - Splunk (SPLK.O) said on Wednesday it would lay off nearly 7% of its global workforce as the cybersecurity and cloud software company grapples with an uncertain macroeconomic environment. Splunk had 8,000 employees as of Jan. 31, of which nearly 560 are set to be impacted by the layoffs. "The overall market has retracted and we expect the macro environment will continue to be unpredictable for the foreseeable future," said CEO Gary Steele in an email sent to employees, about a month ahead of its quarterly results. The reorganization is unrelated to the deal Cisco Systems (CSCO.O) made in September to acquire Splunk for about $28 billion, Steele added. Reporting by Arsheeya Bajwa in Bengaluru; Editing by Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.
Persons: Splunk, Gary Steele, Steele, Arsheeya, Shilpi Majumdar Organizations: Cisco Systems, Thomson Locations: Bengaluru
Cybersecurity firm Splunk , set to be Cisco's largest-ever acquisition, announced Wednesday it would lay off approximately 7% of its global workforce, months ahead of the deal close. Splunk had nearly 8,000 employees as of January, according to its regulatory filings, meaning that around 500 employees will likely lose their jobs. "Within the next 24 hours, each ELT member will communicate with their organization to summarize any changes to their teams," Steele wrote. Shortly after the announcement, Steele and Cisco CEO Chuck Robbins discussed the deal on a call with analysts. Companies such as Google and Microsoft have cut thousands of employees, while many venture-backed companies have become so-called "zombie startups."
Persons: Splunk, Gary Steele, Steele, Chuck Robbins, Robbins Organizations: Cisco, U.S . Securities, Exchange Commission, SEC, CNBC, Google, Microsoft Locations: Krakow, Poland, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Cisco CEO Chuck Robbins and Splunk CEO Gary SteeleCisco chairman and CEO Chuck Robbins and Splunk CEO Gary Steele join 'Squawk on the Street' to discuss Cisco's acquisition of cybersecurity software company Splunk for $157 a share in a cash deal worth $28 billion, why Splunk decided to sell the company, the growth opportunity ahead, and more.
Persons: Chuck Robbins, Gary Steele Cisco, Gary Steele, Splunk Organizations: Cisco
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCisco CEO Chuck Robbins on Splunk acquisition: Deal will add $4 billion in annual recurring revenueCisco chairman and CEO Chuck Robbins and Splunk CEO Gary Steele join 'Squawk on the Street' to discuss Cisco's acquisition of cybersecurity software company Splunk for $157 a share in a cash deal worth $28 billion, why Splunk decided to sell the company, the growth opportunity ahead, and more.
Persons: Chuck Robbins, Gary Steele, Splunk Organizations: Cisco
Splunk is now in the position to deliver "mid-teens" increases in annual revenue after a management overhaul that began 18 months ago, according to Jefferies. "Splunk's growth prospects and addressable market are vast, particularly in the enterprise segment of the market that it addresses," Thill wrote in a note Tuesday. "With these transitions now largely over and a new mgmt team in place, the financial model is now more straightforward," Thill wrote. "The focus at SPLK has noticeably shifted in the last year towards profitable growth while exercising disciplined expense management," Thill said. "As top-line growth stabilizes at scale, we believe the larger opportunity for Splunk lies in improving operational efficiencies and profitability," Thill wrote.
Persons: Splunk, Brent Thill, Jefferies, Thill, Gary Steele, Steele, — CNBC's Michael Bloom Organizations: Jefferies Locations: Splunk
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSplunk CEO Gary Steele on cutting operating expenses by outsourcing global employeesSplunk CEO Gary Steele joins 'The Exchange' to discuss Splunk's quarterly earnings beat, meeting buyer demand efficiently, and cutting operating expenses through leveraging global talent centers.
Persons: Gary Steele
Sage Steele departs ESPN following lawsuit settlement
  + stars: | 2023-08-15 | by ( Lillian Rizzo | ) www.cnbc.com   time to read: +3 min
Sage Steele and ESPN have parted ways. "ESPN and Sage Steele have mutually agreed to part ways," an ESPN spokesman said Tuesday. During the Sept. 2021 podcast, Sage said she had been vaccinated against Covid but referred to the company's vaccine mandate as "sick." Steele is the daughter of Gary Steele, the first Black football player at West Point, and Mona Steele, a white woman. During the same podcast, Steele also suggested that women who wear provocative clothes in the workplace bear responsibility for sexism they may experience.
Persons: Sage Steele, Steele, Jay Cutler, Sage, Barack Obama's, Barack Obama, Black, , Barbara Walters, belittling, Gary Steele, Mona Steele Organizations: ESPN, NBA, Toronto Raptors, Golden State Warriors, Oracle Arena, Disney, NFL, Black Locations: Oakland , California, West
Splunk CEO Gary Steele goes one-on-one with Jim Cramer
  + stars: | 2023-07-18 | by ( Jim Cramer | ) www.cnbc.com   time to read: 1 min
Splunk CEO Gary Steele goes one-on-one with Jim CramerSplunk President and CEO Gary Steele joins 'Fast Money' to talk the companies partnership with Carnival, the benefits of A.I.
Persons: Gary Steele, Jim Cramer Splunk Organizations: Carnival
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCompanies must be mindful of the geopolitical environment from a cyber point of view, says Splunk CEOGary Steele, president and CEO of Splunk, joins Eamon Javers and the 'CNBC Special: Taking Stock' to discuss the state of cybersecurity in America.
Splunk CEO Gary Steel joins 'TechCheck' from Davos 2023
  + stars: | 2023-01-17 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSplunk CEO Gary Steel joins 'TechCheck' from Davos 2023Gary Steele, Splunk CEO, joins 'TechCheck' from Davos 2023 to discuss outlook on the company, cybersecurity, Starboard's stake in the company and more
Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Splunk has a leading market share and is considered the "gold standard" in the log management and security markets. This is a typical Starboard investment – a company with strong top-line growth and enviable market position that needs help with optimizing growth and margins. When an activist takes a position at a company, it puts that company in pseudo-play with potential acquirers often coming out of the woodwork. You would think that their interest level has piqued a little with Splunk now trading at a $12.7 billion market cap.
Register now for FREE unlimited access to Reuters.com RegisterThe trio of stocks presented by Smith have fallen between 37% and 54% this year. Smith was detailing the thesis of his most recent investments at the 13D Monitor Active-Passive Investor Summit on Tuesday. "We think there's significant upside at Splunk," Smith said noting the company could boost free cash flow margins and maintain strong growth profile that could allow Splunk to generate eight to $9 of free cash flow per share by 2025. He added that, as well as growing profitability, Splunk's business made it highly attractive as a potential acquisition target. "This dynamic creates multiple ways to win and makes the investment in Splunk even more interesting," he added.
Watch Jim Cramer's full interview with Splunk CEO Gary Steele
  + stars: | 2022-09-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch Jim Cramer's full interview with Splunk CEO Gary SteeleThe "Mad Money" host interviewed Splunk CEO Gary Steele on Thursday's episode of the show.
Splunk CEO says hiring is getting easier
  + stars: | 2022-09-22 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailSplunk CEO says hiring is getting easierCNBC's Jim Cramer spoke with Splunk CEO Gary Steele on Thursday's episode of "Mad Money."
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