PNM Resources Inc
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PNM Resources, Inc. (PNMR) is an investor-owned holding company with approximately two regulated utilities providing electricity and electric services in New Mexico and Texas. PNMR's electric utilities are Public Service Company of New Mexico (PNM) and Texas-New Mexico Power Company (TNMP). It operates in three segments: PNM, TNMP, and Corporate and Other. The Company, through its Website provides information, including news releases, notices of Webcasts, and filings. PNM is an electric utility that provides electric generation, transmission and distribution service to its rate-regulated customers. TNMP is a regulated utility operating in Texas. TNMP provides transmission and distribution services in Texas under the provisions of Texas Electric Choice Act (TECA) and the Texas Public Utility Regulatory Act. The Corporate and Other segment includes PNMR holding company activities, related to corporate level debt and PNMR Services Company.

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Cisco stock enjoys longest winning streak in more than three years

5:12 pm ET March 15, 2021 (MarketWatch)

By Levi Sumagaysay

Shares have gained for seven consecutive sessions since JP Morgan upgrade

Cisco Systems Inc. shares closed higher for the seventh consecutive trading session on Monday, their longest winning streak in more than three years.

Shares of the networking-technology company have gained 10.9% during the streak, and hit a 52-week intraday high of $49.44 Monday before closing at $49.41, a daily increase of 1.2%. It is their longest winning streak since they rose for nine consecutive trading days in July of 2017.

The streak began on March 5, which was when JPMorgan Chase analyst Samik Chatterjee upgraded Cisco ( stock from overweight to neutral on his expectation, based on a Gartner forecast, that enterprise information-technology spending is poised to exceed expectations after some companies paused spending last year.

Chatterjee also singled out Cisco's on-track transformation to subscriptions, as well as what he called the San Jose, Calif.-based company's "still inexpensive valuation following underperformance to peers." The competition he mentioned: F5 Networks Inc. (FFIV), Dell Technologies Inc. (DELL), Hewlett Packard Enterprise Co. (HPE), HP Inc. (HPQ) and Xerox Holdings Corp. (XRX)

Cisco stock has increased 31.3% in the past 12 months, as the S&P 500 index has gained 45.5% and the Dow Jones Industrial Average -- which counts Cisco as a component -- has risen 41.4%. Analysts are pretty evenly split on whether to buy or hold the stock, with 12 of 26 analysts tracked by FactSet rating shares the equivalent of a buy, and the other 14 calling it a hold. The average price target on the stock is $51.90.

-Levi Sumagaysay; 415-439-6400;


(END) Dow Jones Newswires

March 15, 2021 17:12 ET (21:12 GMT)

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