A rotating shearing device for cropping fast-running rolling stock, in particular wire, with two axially cutting annular knives which rotate about their axis at the same rotational speed with end cutting edges directed toward one another. The cutting edges converge to the clearance necessary for separating the rolling stock during a cutting operation and lie in planes which are arranged at an acute angle to one another. Rolling stock is guided to the shearing device by a front guide and from the shearing device by a rear guide. The running 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 which is defined by the gripping angle. The front guide is pivotable, the rear guide is fixed and the shearing device is raisable and lowerable in relation to the rear guide.