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Stock Market & Financial Investment News

News Breaks
August 14, 2014
12:31 EDTCSCO, JNPRCisco shares trade lower as company announces 6,000 job cuts
Shares of computer networking and communications company Cisco Systems (CSCO) are trading lower this afternoon after the company announced fourth quarter results, provided first quarter guidanced and announced that it is cutting 8% of its workforce. WHAT'S NEW: Cisco reported better-than-expected Q4 earnings per share of 55c and revenue of $12.4B against estimates of 53c and $12.14B, respectively. Product revenue for the quarter was $9.53B and service revenue came in at $2.8B. The company said cash flow from operations for the quarter was $3.6B compared with $3.2B for the third quarter and $4B for the year-ago period. Looking ahead, Cisco forecast Q1 adjusted EPS of 51c-53c against estimates of 53c and Q1 adjusted operating margin of 27.5%-28.5%. Revenue for the quarter is expected to be flat to up 1%, the company said on its conference call. The revenue consensus estimate for Q1 revenue is $12.08B. Cisco also sees Q1 adjusted gross margin of 61%-62%. WHAT'S NOTABLE: Chief Executive Officer John Chambers announced a "limited restructuring" across several areas of its business, in which 8% of its workforce, or 6,000 jobs will be cut. The company expects to take a charge of up to $700M in fiscal year 2015 on the restructuring. The company announced in August 2013 that it would cut approximately 4,000 jobs. Chambers said the company said not see emerging markets growth for several quarters. ANALYST OPINION: This morning, Wells Fargo analysts continued to see value in Cisco shares, believing there will be a return to growth likely in Q1 and said that the company's guidance is "conservative." The firm cut its fiscal year 2015 EPS estimate to $2.19 from $2.26, and introduced its fiscal year 2016 EPS estimate of $2.33. Piper Jaffray was also positive on Cisco shares, saying the company is making good strides with cost controls and capital allocation. It seems an attractive dividend yield and a share buyback will provide little downside risk. Citigroup analysts, meanwhile, believes that "at best," Cisco remains a flat to low-single-digit grower with little upside to operating margin and stable GM, although the company is managing the headwinds "as best as it can." The firm also fears that the switch rebound cycle that is driving U.S. enterprise and commercial will have run its course by the time service provider and emerging markets begin to grow. PRICE ACTION: In intra-day trading, shares of Cisco dropped 67c, or 2.62%, to $24.54. OTHERS TO WATCH: Cisco’s competitor Juniper Networks (JNPR) is down almost 2% to $23.15.
News For CSCO;JNPR From The Last 14 Days
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April 24, 2015
09:20 EDTJNPROn The Fly: Pre-market Movers
UP AFTER EARNINGS: eHealth (EHTH), up 24.7%... Starbucks (SBUX), up 4.2%... Microsoft (MSFT), up 5.2%... Google (GOOG, GOOGL), up 3.2% and up 3.7%, respectively... Amazon (AMZN), up 12% after reporting quarterly results and announcing shopping app for Apple Watch... Gigamon (GIMO), up 16.5%... Juniper Networks (JNPR), up 6.6%. ALSO HIGHER: Molycorp (MCP), up 10.2% following a Bloomberg report that China's export tax decision may boost rare earth demand... Mattel (MAT), up 4.4% after being upgraded to Buy from Neutral at Goldman... Innocoll (INNL), up 13.1% after 3.3M share Secondary priced at $9.00... Cytosorbents (CTSO), up 9.7% after CEO comments on CytoSorb in letter to shareholders. DOWN AFTER EARNINGS: Biogen (BIIB), down 4.7%... Altera (ALTR), down 1.7%... Pandora (P), down 4%... ResMed (RMD), down 8.7%... Xerox (XRX), down 4.7%... HomeAway (AWAY), down 3.6% after reporting quarterly results and departure of officers. ALSO LOWER: Ubiquiti (UBNT), down 14.4% following CFO resignation and preliminary third quarter results... 3D Systems (DDD), down 10.4% after reporting preliminary first quarter results... StemCells (STEM), down 23.2% after filing to sell common stock... Aerie Pharmaceuticals (AERI), down 54.7% after Rhopressa Phase 3 trial did not meet primary endpoint.
08:59 EDTJNPRJuniper price target raised to $31-$33 from $27-$29 at Wells Fargo
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07:29 EDTJNPRJuniper upgraded on improved outlook at RBC Capital
As noted earlier, RBC Capital upgraded Juniper to Outperform from Sector Perform. The firm believes that the period of negative earnings revisions is behind the company, while its revenue is stabilizing and there are early signs of improving telecom spending. It adds that it expects routing switching and security to begin contributing to the company's growth in 2016. Target $29.
06:27 EDTJNPRJuniper upgraded to Outperform from Sector Perform at RBC Capital
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06:26 EDTCSCOCisco upgraded to Conviction Buy from Buy at Goldman
Goldman added Cisco to the Conviction Buy List and maintained its $34 price target. The firm sees upside to FY16 estimates from emerging product cycles in enterprise WLAN and campus switching driven by adoption of 802.11ac Wave 2.
April 23, 2015
19:16 EDTJNPROn The Fly: After Hours Movers
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16:21 EDTJNPRJuniper expects to return to higher revenue in 2H15
The company continues to see the long-term demand drivers as healthy and is confident in its innovation pipeline. Juniper expects to return to its historical pattern of higher revenue in the second half of 2015 versus the first half of the year.
16:21 EDTJNPRJuniper sees Q2 adjusted EPS 38c-42c, consensus 38c
Sees Q2 revenue $1.09B-$1.12B, consensus $1.09B. Q2 non-GAAP gross margin will be approximately 64%, plus or minus 0.5%. Non-GAAP operating expenses will be $475M, plus or minus $5M.
16:19 EDTJNPRJuniper reports preliminary Q1 adjusted EPS 32c, consensus 31c
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15:00 EDTJNPRJuniper April weekly 24 straddle priced for 5.5% movement into Q1
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April 21, 2015
12:54 EDTJNPRJuniper April weekly volatility elevated into Q1 and outlook
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10:20 EDTJNPR, CSCOWells thinks carrier equipment vendors factored in weak capex
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08:23 EDTCSCOCisco results likely to beat expectations, says Bernstein
Bernstein expects Cisco to report stronger than expected results, due to strength in enterprise and commercial and continued momentum in switching, Bernstein believes that risks caused by service provider revenue was eliminated by the company's Q1 guidance, while currency fluctuations should not impact its near-term results. The firm keeps a $34 price target and Outperform rating on the shares.
April 16, 2015
11:22 EDTJNPRJuniper April weekly volatility elevated into Q1 and outlook
Juniper April weekly call option implied volatility is at 49, May is at 35, July is at 25, October is at 24; compared to its 26-week average of 28 according to Track Data, suggesting large near term price movement into the expected release of Q1 of April 23.
10:51 EDTCSCOOptions with increasing implied volatility
Options with increasing implied volatility: PNK ARRY FOSL NSAM WUBA ARCP CSCO
April 15, 2015
18:32 EDTCSCOIdentiv, Cisco enter agreement to provide solutions for Internet of Everything
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07:46 EDTJNPR, CSCOEricsson, Juniper in focus for deals after Nokia-Alcatel tie-up, Bloomberg says
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April 14, 2015
11:55 EDTCSCOCommunication equipment stocks active after potential Nokia-Alcatel deal
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10:50 EDTCSCOOptions with increasing implied volatility
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05:56 EDTCSCOStocks with implied volatility movement; CSCO MAC
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