Notable News to Watch: Wesley G. Bush joins Cisco Systems (CSCO) as board of director

Cisco (NASDAQ: CSCO) stock observed trading -3.19% off 52-week high price. On the other end, the stock has been noted 38.36% away from low price over the last 52-weeks. The stock disclosed a move of 1.89% away from 50 day moving average and 14.93% away from 200 day moving average. Moving closer, we can see that shares have been trading 1.72% off 20-day moving average. It has market cap of $248934.29M and dividend yield of 2.51%.

Cisco (NASDAQ: CSCO) disclosed the appointment of Wesley G.  Bush, chairman of Northrop Grumman Corporation, to its board of directors, effective May 21.

Chuck Robbins, chairman and CEO, Cisco said “Wes is a well-respected leader with deep technology expertise”. “His insights from leading a complex, multinational business will add great value to us as we continue to transform Cisco to deliver new experiences for our customers.”

Bush, 58, has extensive international business experience including over 35 years in the aerospace and defense industry. He served as chief executive officer of Northrop Grumman from 2010 through 2018 and as its chairman since 2011. Prior to 2010, he served in various leadership roles, including as Northrop Grumman’s president and chief operating officer, corporate vice president and chief financial officer, and president of its Space Technology sector. Bush also served in various leadership roles at TRW Inc. prior to its acquisition by Northrop Grumman in 2002. Bush is also a member of the Boards of Directors of Dow Inc. and General Motors Corporation.

Bush earned bachelor’s and master’s degrees in electrical engineering from the Massachusetts Institute of Technology. He also completed the UCLA Executive Management Program. He is a member of the National Academy of Engineering. The appointment of Bush brings Cisco’s board to ten members.

The USA based company Cisco Systems moved with change of -1.47% to $55.69 with the total traded volume of 19328042 shares in recent session versus to an average volume of 20568.29K. The stock was observed in the 5 days activity at 6.20%. The one month performance of stock was -1.76%. CSCO’s shares are at 12.71% for the quarter and driving a 27.29% return over the course of the past year and is now at 28.53% since this point in 2018.  Right now the stock beta is 1.18. The average volatility for the week and month was at 2.06% and 1.84% respectively. There are 4470M shares outstanding and 4399.19M shares are floated in market.

Samuel Dinger

Samuel Dinger joined us, after more than 10 years of experience in writing financial and business news, most recently as Investment Editor and writer. He also has a vast knowledge of stock trading. He earned bachelor degree from Union College with a focus in Business Administration. Samuel is the Senior Editor and market movers section. He also holds an MBA from Penn State University. He has two daughter and two children. Address: 1116 Christie Way, Cambridge, Massachusetts Email: Samuel@newscontrol.info

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