New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
July 24, 2015
05:49 EDTJNPRStocks with implied volatility movement; NTAP JNPR
Subscribe for More Information
July 23, 2015
20:03 EDTJNPRJuniper stock jumps after better-than-expected Q2 earnings, Q3 guidance
Subscribe for More Information
19:06 EDTJNPROn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
17:08 EDTJNPRJuniper up over 10% after reporting Q2 results, giving Q3 guidance
Subscribe for More Information
16:21 EDTJNPRJuniper sees Q3 EPS 50c-54c, consensus 46c
Subscribe for More Information
16:19 EDTJNPRJuniper reports preliminary Q2 EPS 53c, consensus 40c
Subscribe for More Information
15:04 EDTJNPRNotable companies reporting after market close
Subscribe for More Information
14:08 EDTJNPRJuniper July weekly 26.5 straddle priced for 7.9% movement into Q2
Subscribe for More Information
12:51 EDTJNPRJuniper technical notes ahead of results
On a long-term chart, 5-year basis, the stock has been basing with a bullish bias since late 2011. The $25 level has become an important price point around which there are pivots. A move back below $25 on bearish news could send price back to the lows of the recent range, which have support at $20. If the news is a bullish surprise, a reaction away from current price, $26.39, could take the stock to the top of the recent range at $28.75. If the news were sufficiently strong, a run to the $30 area might be possible. The $30 level has not been seen since mid-2011. It would be a very bullish move that could put the shares back on a stronger bullish price path. Resistance above $30 would be at $30.63.
06:15 EDTCSCOTechnicolor to acquire Cisco's connected devices unit for EUR550M
Subscribe for More Information
July 22, 2015
11:56 EDTJNPRJuniper July weekly volatility elevated into Q2 and outlook
Subscribe for More Information
July 21, 2015
14:24 EDTCSCOEarnings Watch: EMC reports amid M&A speculation in sector
Subscribe for More Information
July 17, 2015
07:05 EDTCSCOCisco management to meet with Deutsche Bank
Subscribe for More Information
July 16, 2015
09:08 EDTCSCOGE unveils high-speed network infrastructure for industrial internet connection
Subscribe for More Information
07:15 EDTCSCOCisco management to meet with Deutsche Bank
Subscribe for More Information
July 15, 2015
08:03 EDTJNPRJuniper names Bob Worrall as SVP, Chief Information Officer
Subscribe for More Information
07:24 EDTCSCOCisco management to meet with Deutsche Bank
Subscribe for More Information
July 14, 2015
07:07 EDTCSCOCisco management to meet with Deutsche Bank
Subscribe for More Information
July 13, 2015
07:42 EDTCSCOCisco, F5 to benefit from strong IT, data networking spending, says Bernstein
Subscribe for More Information
07:32 EDTCSCOCisco management to meet with Deutsche Bank
Meeting to be held in London on July 13 hosted by Deutsche Bank.
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use