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August 8, 2014
06:52 EDTANETArista Networks upgraded to Buy from Neutral at Citigroup
Citigroup upgraded Arista Networks to Buy citing increased confidence following the company's better than expected Q2 results. Citi raised its price target for shares to $90 from $70.
News For ANET From The Last 14 Days
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October 6, 2015
18:53 EDTANETPatent Office to review two Cisco patents as part of Arista Networks dispute
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16:57 EDTANETOn The Fly: Top stock stories for Tuesday
Stocks began the session modestly lower on the heels of yesterday's significant gains, which marked the year's first five-day winning streak for the S&P. Somewhat paring their opening losses today, the Dow and S&P were helped by gains from Alcoa (AA) and General Electric (GE), though the indexes remained mixed as they limped into the close. ECONOMIC EVENTS: The U.S. trade deficit expanded 15.6% to $48.3B in August, coming roughly in line with analyst expectations for $48.5B. On a region-specific basis, the trade gap with China spiked to $35B from a previous $31.6B, while the EU balance decreased to $13.8B from $15.2B. COMPANY NEWS: Despite cutting its guidance for the second time in less than four months, DuPont (DD) rose 7.70% to $55.23 after announcing that chairwoman and CEO Ellen Kullman would be retiring from the company, spurring investor hopes for an accelerated pace of change at the industrial giant. The news prompted a number of analysts to weigh in, with Deutsche Bank saying the changeover is "highly likely" to lead to further breakup of the company under interim Chief Edward Breen, who broke up Tyco (TYC) twice when he ran the company. MAJOR MOVERS: Among the notable gainers was PMC-Sierra (PMCS), which rose $2.55, or 33.16%, to $10.24 after agreeing to be acquired by Skyworks Solutions (SWKS), whose shares slid 1.42% following the news. Also higher was EnerSys (ENS), which gained $4.98, or 8.46%, to $63.86 after the Wall Street Journal reported that Johnson Controls (JCI) is in early talks to buy the battery maker. Additionally, Arista Networks (ANET) jumped 5.43% after the U.S. Patent and Trademark agreed to review two Cisco (CSCO) patents, potentially signaling a win for Arista in its legal dispute with the networking giant. Among the noteworthy losers was Exact Sciences (EXAS), which crashed $8.55, or 46.14%, to $9.98 after regulators issued preliminary guidelines identifying the company's main product, the Cologuard colon cancer test, as "an alternative screening test" to be used in "select clinical circumstances." Also lower was Tesla (TSLA), which fell $4.69, or 1.91%, to $241.46 after after Morgan Stanley analysts lowered sales forecasts for the company's recently-launched Model X. INDEXES: The Dow gained 13.76, or 0.08%, to 16,790.19, the Nasdaq declined 32.90, or 0.69%, to 4,748.36, and the S&P 500 dipped 7.13, or 0.36%, to 1,979.92.
14:23 EDTANETArista Networks should win challenge of two Cisco patents, PTO says
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