A rotating shearing device for cropping fast-running rolling stock, in particular wire, includes two axially cutting annular knives which rotate about their axes at the same rotational speed. The two axially cutting annular knives include end cutting edges directed toward one another which converge to the clearance required for separating running stock during the cutting operation and lie in planes which are arranged at an acute angle to one another and intersect one another in a line. The rolling stock is guided toward the shearing device by a front guide and guided away from the shearing device by a rear guide. The front guide is pivotable to change in the relative position between the rolling stock and the cutting body so that the rolling stock may be guided either through the space between the annular knives which is free for the cut-free passage of the rolling stock or into the wedge-shaped cutting region of the annular knives. The rear guide part arranged behind the shearing device is also pivotable between a lower end and upper end position.