Cisco Systems Inc. Chief Executive John Chambers said it was too soon to call a recovery and forecast another drop in quarterly revenue, sending its shares 3% lower.The outlook from the world's largest network equipment maker overshadowed stronger-than-expected quarterly results.While the revenue outlook was within estimates, the downbeat comments from the CEO came amid growing expectations that the global economic slowdown may be on the mend, and that companies will again invest in technology equipment.Cisco (CSCO, Fortune 500), which makes routers and other network equipment, said it expects...
Speculation Higher Prices Oil
NEW YORK (Fortune) -- Oil prices hit their highest level in a month Monday on hopes that the U.S. economy was finally on the road to recovery. Still, that recovery is taking a lot longer than oil traders had hoped. Prices are nowhere near their all-time high of $147 a barrel a year ago.Longer-term, what does this continued softness at home mean for the direction of prices? Our guess is less than you'd think.It's been some time since U.S. demand was the primary driver of global oil prices.Between 2000 and 2008, U.S. oil consumption actually declined 1.5%. What drove oil prices ever higher was skyrocketing...
