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Time to Get Long Cisco?

Cisco landed on the trader radar after the tech titan announced plans to shut its Flip video camera business.

The move is widely considered the first step in larger plans by Cisco to overhaul its entire consumer products division.

The announcement comes just a week after CEO John Chambers sent a memo to employees vowing to take "bold steps" to narrow the company's focus.

Cisco, which is facing stronger competition from rivals in its core business, said it will realign its remaining consumer business to support four of its five key priorities — core routing, switching and services; collaboration; architectures and video.

The San Jose, Calif., company anticipates its consumer business shakeup will result in the loss of 550 jobs and restructuring charges of no more than $300 million in its fiscal third and fourth quarters.

Should you play Cisco as a turnaround story? Hear from Deutsche analyst Brian Modoff. Watch the video now!





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Trader disclosure: On April 12, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Terranova owns (JPM); Terranova owns (C); Terranova owns (VRTS); Terranova owns (UPL); Terranova owns (TCK); Terranova owns (BAX); Terranova owns (XOM); Terranova owns (AKAM); Pete Najarian owns (AAPL); Pete Najarian owns (C): Pete Najarian is long (F) bonds; Pete Najarian owns (HPQ); Pete Najarian is long (XLF) call spread; Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (GS); Adami owns (INTC); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU)

For Joe Terranova
Terranova is Chief Market Strategist of Virtus Investment Partners, LTD
Virtus Investment Partners Owns More Than 1% Of (ABAX)
Virtus Investment Partners Owns More Than 1% Of (AMKR)
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Virtus Investment Partners Owns More Than 1% Of (YDNT)
Virtus Investment Partners Owns More Than 1% Of DOMINO'S PIZZA UK & IRL
PLC

For Brian Kelly
Accounts Managed by Kanundrum Capital are long (MON)
Accounts Managed by Kanundrum Capital are long (SLV)
Accounts Managed by Kanundrum Capital are long (GLD)
Accounts Managed by Kanundrum Capital are long (EBAY)
Accounts Managed by Kanundrum Capital are long (EWP)
Accounts Managed by Kanundrum Capital are long (TSN)
Accounts Managed by Kanundrum Capital are long (VLO)
Accounts Managed by Kanundrum Capital are long VIX calls
Accounts Managed by Kanundrum Capital are long SPY puts
Accounts Managed by Kanundrum Capital are long wheat futures
Accounts Managed by Kanundrum Capital are long soy futures
Accounts Managed by Kanundrum Capital are long gold futures
Accounts Managed by Kanundrum Capital are short (SMH)
Accounts Managed by Kanundrum Capital are short (XLF)
Accounts Managed by Kanundrum Capital are short US bond futures

Brian Stutland
Stutland owns (EWZ), is long (EWZ) calls

For Jeff DeGraaf
DeGraaf Owns Crude Oil

Chris Varvares
**No disclosures

CNBC.com with wires.