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Stock Market & Financial Investment News

News Breaks
May 16, 2013
09:10 EDTCTXSCitrix shares should be bought ahead of Synergy event, says Pacific Crest
Pacific Crest recommends that investors buy shares of Citrix Systems ahead of its Syenrgy event, as the firm thinks that new products announced there will provide a positive catalyst for the shares. The firm sees multiple catalysts for the stock and keeps an Outperform rating on the shares.
News For CTXS From The Last 14 Days
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April 16, 2015
08:00 EDTCTXSCitrix will use part of GoTo sales proceeds to buy back shares, says Bernstein
After CRN reported that Citrix is considering a divestiture of its Online Services businesses, Bernstein expects the company to sell its GoTo businesses for $2.1B and use a portion of the proceeds to repurchase shares, possibly shrinking its share count by 10%-20%. The firm says it would view the move positively and keeps an Outperform rating on the stock.
April 15, 2015
10:03 EDTCTXSHigh option volume stocks
High option volume stocks: SKS NSAM AMP CTXS KS WUBA CIT OC ASML SLM
09:39 EDTCTXSCitrix weighing sale of online services subsidiary, CRN reports
Citrix Systems (CTXS) is weighing the sale of spinoff of its online services subsidiary, CRN reported last night, citing sources familiar with the matter. The unit includes GoToMeeting Web conferencing and GoToMyPC remote access apps, the website pointed out. Shares of Citrix are up $1.58 to $65.59 in early trading. Reference Link
April 10, 2015
13:35 EDTCTXSCitrix falls after guidance cut, but analyst says M&A potential may limit slide
The shares of Citrix (CTXS) are falling after the company lowered its first quarter guidance, but RBC Capital wrote that the miss could increase investors' focus on potential activism or M&A scenarios. The company provides virtualization and cloud infrastructure solutions. WHAT'S NEW: Citrix last night lowered its first quarter earnings per share guidance to 63c-65c from its previous outlook of 70c-72c. Analysts' consensus estimate was 72c. Citrix reduced its Q1 revenue view to $755M-$760M from $780M-$790M. Analysts' consensus estimate was $787M. The company said that it had underestimated the impact of its restructuring and changes to its field and channel strategies. Those changes had been made in order to prepare the business for its next phase of growth, Citrix added. Foreign exchange fluctuations and customer buying behavior also impacted the results, the company stated. ANALYST REACTION: In a note to investors earlier today, RBC Capital analyst Matthew Hedberg wrote that the preannouncement could increase investors' focus on potential activism or M&A scenarios. As a result, the stock is unlikely to drop much further, the analyst stated. In an M&A scenario, the stock would be worth $79-$83 per share, estimated Hedberg after analyzing recent sizable transactions involving software companies. However, he warned that the company may need to implement additional restructuring measures in order to obtain the one percentage point of leverage from restructuring that it is seeking. Hedberg trimmed his price target on the shares to $67 from $69 and kept a Sector Perform rating on the shares. WHAT'S NOTABLE: Another firm, William Blair, downgraded Citrix Systems to Market Perform from Outperform after the company preannounced weaker than expected Q1 results. On April 7, Stifel said it viewed Citrix as an "interesting name" for the rest of the year and thinks activist investors could get involved if the company's turnaround does not progress quickly enough. The firm calculated that, using a similar take out multiple to what is being paid for peer Informatica (INFA), equates to a $110 price for Citrix. Earlier that day, Informatica announced it has entered into an agreement to be acquired by a company controlled by the Permira funds and Canada Pension Plan Investment Board, or CPPIB, for approximately $5.3B, or $48.75 per share. PRICE ACTION: In mid-afternoon trading, Citrix fell 2% to $63.35.
10:07 EDTCTXSHigh option volume stocks
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10:00 EDTCTXSOn The Fly: Analyst Downgrade Summary
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09:16 EDTCTXSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Quantum (QTM), up 22.2%. ALSO HIGHER: General Electric (GE), up 6.6% after announcing that it will sell most of GE Capital assets for approximately $26.5B... Horizon Pharma (HZNP), up 3.7% after receiving fast track designation for Actimmune... Tekmira Pharmaceuticals (TKMR), up 2.3% after FDA modifies partial clinical hold on Tekmira TKM-Ebola IND... Netflix (NFLX), up 2.9% after being upgraded to Buy from Neutral at Citigroup... Blackstone Mortgage Trust (BXMT), up 3.6% after acquiring $4.6B loan portfolio from GE Capital. LOWER: Citrix Systems (CTXS), down 5.8% after lowering first quarter guidance... Uniqure (QURE), down 2.4% after 3M share Secondary priced at $29.50... FIS (FIS), down 2.5% after lowering first quarter guidance... Golub Capital (GBDC), down 2.3% after 3.5M share Spot Secondary priced at $17.42.
09:02 EDTCTXSCitrix news may increase focus on activism/M&A scenarios, says RBC Capital
After Citrix lowered its Q1 EPS guidance, RBC Capital thinks the preannouncement could increase investors' focus on potential activism and/or M&A scenarios. As a result, the firm thinks the stock can reach $71-$83. However, it keeps a Sector Perform rating on the shares.
05:46 EDTCTXSCitrix downgraded to Market Perform from Outperform at William Blair
William Blair downgraded Citrix Systems to Market Perform after the company preannounced weaker than expected Q1 results.
April 9, 2015
16:36 EDTCTXSCitrix down over 7% after lowering Q1 guidance
16:26 EDTCTXSCitrix halted, levels to watch
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16:17 EDTCTXSCitrix to resume trading at 4:35 pm ET
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16:09 EDTCTXSCitrix lowers Q1 EPS view to 63c-65c from 70c-72c, consensus 72c
Lowers Q1 revenue guidance to $755M-$760M from $780M-$790M, consensus $786.76M. Mark Templeton, president and CEO for Citrix stated, “We are disappointed with our Q1 results, but fully committed to the financial, operational and strategic initiatives announced last quarter. We underestimated the impact caused by our restructuring, organizational evolution, and changes to our field and channel strategies, which were the result of important decisions made to get the business ready for our next phase of growth. Additionally, the increase in foreign exchange volatility impacted results and customer-buying behavior to a larger extent than anticipated in the quarter. We are continuing to optimize our business model and our focus on improving margins remains unchanged.”
10:00 EDTCTXSOn The Fly: Analyst Downgrade Summary
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09:14 EDTCTXSCitrix downgraded to Underperform from Neutral at BofA/Merrill
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April 7, 2015
15:45 EDTCTXSCitrix agrees to buy cloud-based telephony solution provider Grasshopper
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10:47 EDTCTXSCitrix could be targeted after Informatica deal, says Stifel
Stifel views Citrix (CTXS) as an "interesting name" for the rest of the year and thinks activist investors could get involved if the company's turnaround does not progress quickly enough. The firm calculates that, using a similar take out multiple to what is being paid for peer Informatica (INFA), equates to a $110 price for Citrix. The firm also believes Teradata (TDC) could be viewed as a potential takeout candidate after the deal for Informatica, noting that a takeout premium in line with Informatica’s would yield a price of about $55 per share for Teradata. Stifel has a Buy rating on Citrix and Hold rating on Teradata.
10:43 EDTCTXSInformatica rises after agreeing to be taken private for $48.75 per share
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