Tag: concern

Cisco, Arista Cut to Neutral On Concern About Network Demand

Cisco Systems  (CSCO) – Get Report and Arista Networks  (ANET) – Get Report were downgraded by Citigroup analyst Jim Suva, who sees the coronavirus pandemic continuing to blunt corporate demand for networks.

Cisco has networking systems for internet communications and internet technology, and Arista has cloud networking solutions.

Suva cut his share-price targets to $43 from $48 for Cisco and to $230 from $290 for Arista. 

Cisco, San Jose, Calif., recently traded at $40.31, up 1.2%. The stock has slumped 16% year to date. 

Arista recently traded at $226.29, down 0.6%. The stock has gained 11% year to date. The S&P 500 has climbed 10% year to date

“It is clear to us that business and life will not return to the pre covid-19 normal,” Suva wrote in a commentary.

“While we recognize there is likely a permanent shift to a more flexible work environment, we

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India’s Paytm says Google monopoly over Android is a concern for local start-ups

SINGAPORE — Google’s monopoly over Android — the mobile operating system used by most smartphones around the world — is a major concern for Indian start-ups, a top executive at online payments firm Paytm said Tuesday. 

Paytm has become a ubiquitous name in India’s digital payments sector. The mobile app is used by millions of Indians to pay for things including utility bills, groceries, recharging mobile connections, or movie tickets. Paytm is also a fully licensed digital bank. 

Last Friday, the app was temporarily removed from the Google Play Store. Paytm said the U.S. tech giant told the Indian tech firm its app contained “content that doesn’t comply with (Google’s) Gambling policy.”

On the same day, Google said in a separate blog post it doesn’t allow online casinos or support any unregulated gambling apps that facilitate sports betting. It did not name Paytm, but Reuters reported that the U.S. tech

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