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News Breaks
January 17, 2014
08:54 EDTARUN, BLOX, CVLT, EMC, FIOStorage, networking sector could rebound in 2014, says Pacific Crest
Pacific Crest believes that a recovery in storage trends, along with new products, could enable storage/networking stocks to rebound in 2014. The firm identifies EMC (EMC) as its top large cap idea in the sector, and identifies Aruba Networks (ARUN), Infoblox (BLOX), and CommVault (CVLT), as its highest conviction mid-caps in the sector. It calls Fusion-io a high-risk, high-reward small-cap name that may double this year. The firm keeps Outperform ratings on all the stocks named.
News For ARUN;BLOX;CVLT;EMC;FIO From The Last 14 Days
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April 23, 2014
12:57 EDTEMCEMC profit cycle bottomed in Q1, says Cantor
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12:01 EDTEMCVMware sinks after enterprise licenses, outlook may have disappointed
Shares of VMware (VMW), a provider of virtualization infrastructure solutions, are among today's losers despite the company having reported results that beat the consensus forecast. Several analysts contended that the company reaffirming its full-year outlook and reporting lower than expected enterprise license agreements as a percentage of bookings may have disappointed investors. WHAT'S NEW: Last night, VMware reported first quarter earnings per share of 80c and revenue of $1.36B, compared to expectations of 79c and $1.35B, respectively. VMware said Q1 license and total bookings growth was less than 10% compared to the prior year. VMware forecast Q2 revenue of $1.43B-$1.47B, compared to consensus of $1.44B. The company reaffirmed its fiscal 2014 revenue view of $5.94B-$6.1B, versus consensus of $6.03B. It also expects FY14 non-GAAP operating margin of approximately 31%. FY14 license revenue was expected to be $2.55B-$2.63B, up 12%-16% from the prior year. ANALYST REACTION: This morning, research firms Oppenheimer, Pacific Crest, and Raymond James all recommended buying VMware on any weakness. Pacific Crest said lower than expected enterprise license agreements as a percentage of bookings and weaker overall bookings growth disappointed the Street. Another firm, Janney Capital, said it believes investors may be slightly disappointed that VMware reiterated its prior guidance after its Q1 EPS slightly beat expectations. However, the firm believes the stock's valuation offers a good entry point and reiterates its Buy rating on the name. PRICE ACTION: In late morning trading, VMware fell $9.15, or 8.7%, to $96 on heavy trading volume. Despite today's pull back, the stock is up approximately 27% over the past twelve months. ANOTHER TO WATCH: EMC (EMC), which is the majority owner of VMware, reported earnings and revenue that were roughly in-line with expectations and raised its quarterly dividend. However, EMC lowered its 2014 EPS outlook to $1.90 from $1.95, which was below the consensus $1.94 forecast, and its shares were down 3% to $25.94 near noon.
07:12 EDTEMCEMC lowers 2014 EPS outlook to $1.90 from $1.95, consensus $1.94
Sees 2014 revenue $24.575B, consensus $24.51B. EMC expects to repurchase an aggregate of $2B of the company's common stock in 2014. The company said, "While planned business practice changes had a negative impact on year-over-year revenue and EPS growth in the quarter, we are very confident we are on the right track with our Federation model and technologies. With our strong foothold in Second Platform environments and some of the most exciting IT assets in the industry helping us propel customers to the Third Platform of IT, EMC is well positioned to meet our stated 2014 targets."
07:09 EDTEMCEMC raises quarterly dividend to 11.5c from 10c
EMC said its board approved a 15% increase in the quarterly cash dividend paid to shareholders. The first increased dividend of 11.5c per share of common stock will be paid on July 23, to shareholders of record as of the close of business on July 1.
07:09 EDTEMCEMC reports Q1 EPS 35c, consensus 35c
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07:09 EDTEMCEMC reports Q1 EPS 35c, consensus 35c
Reports Q1 revenue $5.48B, consensus $5.43B.
April 22, 2014
15:32 EDTEMCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Procter & Gamble (PG), consensus $1.02; Boeing (BA), consensus $1.56; Biogen Idec (BIIB), consensus $2.56; Dow Chemical (DOW), consensus 71c; EMC Corporation (EMC), consensus 35c; Thermo Fisher (TMO), consensus $1.40; Praxair (PX), consensus $1.51; General Dynamics (GD), consensus $1.64; Johnson Controls (JCI), consensus 65c; Norfolk Southern (NSC), consensus $1.15; Reynolds American (RAI), consensus 74c; Delta Air Lines (DAL), consensus 29c; Northrop Grumman (NOC), consensus $2.15; Air Products & Chemicals (APD), consensus $1.35; TD Ameritrade (AMTD), consensus 34c; Ingersoll-Rand (IR), consensus 26c; Dr Pepper Snapple (DPS), consensus 59c; Polaris Industries (PII), consensus $1.16; Ryder System (R), consensus 87c.
15:10 EDTEMCEarnings Preview: EMC shares up 6% since Q4 report
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15:05 EDTFIOFusion-io volatility elevated at 77 into Q3 and outlook
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08:35 EDTCVLTCommVault extends relationship with Rackspace
CommVault (CVLT) announced that it has extended its relationship with Rackspace Hosting (RAX) to improve managed backup services based on the latest enhancements in Simpana 10. Through their collaborative efforts, the companies have enhanced Rackspace's services capabilities with capabilities of the Simpana 10 platform.
April 21, 2014
13:41 EDTEMCEMC April weekly volatility elevated into Q1 and outlook
EMC April weekly call option implied volatility is at 38, May is at 22, June is at 21; compared to its 26-week average of 22 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 23.
April 17, 2014
08:08 EDTCVLTConcerns about CommVault overdone, says Stifel
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April 16, 2014
07:07 EDTEMCAmazon, Google, Microsoft cut prices for cloud computing products, WSJ says
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April 15, 2014
10:14 EDTARUNHigh option volume stocks: LPNT IWC MSI ARMH ARUN
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06:04 EDTBLOXInfoblox risk/reward favorable at current levels, says Deutsche Bank
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April 11, 2014
12:42 EDTARUNOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
06:08 EDTARUNAruba Networks initiated with a Buy at SunTrust
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April 10, 2014
10:00 EDTEMCOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
08:44 EDTEMCCLSA technology analysts hold an analyst/industry conference call
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06:52 EDTEMCEMC initiated with a Buy at Deutsche Bank
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