New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 15, 2014
11:36 EDTEMC, NTAP, DTLK, SYMCDatalink soars after raising fourth quarter outlook
Datalink (DTLK), a designer of servers, storage and networks, is one of today's winners after the company raised its fourth quarter outlook. WHAT'S NEW: Last night, Datalink raised its fourth quarter profit and revenue outlook. The company raised its Q4 adjusted EPS view to 33c-37c from 24c-30c, compared to consensus of 25c. It also increased its guidance for Q4 revenue to approximately $174M from $160M-$170M, versus expectations of $164.86M. ANALYST REACTION: In a note to investors, research firm Canaccord said Datalink's better than expected results were likely due to a combination of large deals that slipped from the third quarter getting completed this quarter, as well as a recovery for product gross margins. Canaccord also said its believe's Datalink management is focused on making an accretive acquisition in the near term. The firm raised their price target on the stock to $17 from $16 and kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Datalink soared nearly 27% to $13.80 on nearly five times its average daily trading volume. Over the past twelve months, the stock is up approximately 55%. OTHERS TO WATCH: Other stocks in the storage and networks space include EMC Corporation (EMC), Symantec (SYMC), and NetApp (NTAP), all of which are trading higher this morning.
News For DTLK;EMC;SYMC;NTAP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 >>
February 1, 2016
10:08 EDTSYMCHigh option volume stocks
High option volume stocks: NOK HLT NCLH DF GALE VMW DPS SYY SYMC PGR
January 29, 2016
16:11 EDTSYMCSymantec on track to return over $4B to shareholders by March 2017
Symantec is on track to return more than $4B in capital to its shareholders by the end of March 2017. This capital return includes a $500M accelerated share repurchase completed in January 2016; $1.8B remaining at the end of Q3 from its previously announced share repurchase program; and the additional $2B of capital return that the board announced.
16:09 EDTSYMCSymantec receives $5.3B in connection with completion of Veritas sale
Subscribe for More Information
10:56 EDTSYMCIT security stocks rise after Fortinet meets expectations
The shares of a number of IT security companies are rising after one of the companies in the sector, Fortinet (FTNT), reported in-line fourth quarter results last night. JPMorgan and RBC Capital were upbeat on the company's outlook. WHAT'S NEW: Fortinet reported Q4 EPS of 18c, in line with analysts' consensus outlook. The company's revenue was also in-line with the consensus outlook, while its billings jumped 35% versus the same period a year earlier. Moreover, Fortinet's fiscal 2016 guidance also came in near consensus estimates. ANALYST REACTION: Fortinet's results show that it is gaining market share, especially overseas and among U.S. small and medium businesses, JPMorgan analyst Sterling Auty stated. Additionally, the company's margins look set to reach about 15% in fiscal 2016, up from 13% the previous year, and its free cash flow should jump 33% in fiscal 2016, the analyst predicted. He kept a $54 price target and Overweight rating on the shares, saying the quarter should bring a "welcomed lift" following the recent selloff in shares. Fortinet's guidance suggests that it will have more leverage than expected in fiscal 2016, but its outlook is also "somewhat conservative," RBC Capital analyst Dan Bergstrom wrote. Fortinet's stock is relatively cheap versus its peers and its historical norms, the analyst believes. However, he kept a $32 price target and Sector Perform rating on the shares. WHAT'S NOTABLE: Yesterday morning IT security company Check Point (CHKP) reported stronger than expected Q4 results and provided in-line fiscal 2016 EPS guidance, excluding certain items. Last night IT security company Proofpoint (PFPT) reported in-line Q4 results but provided lower than expected fiscal 2016 EPS guidance. PRICE ACTION: In late morning trading, Fortinet climbed 6% to $28. Other IT security companies also advanced, with Palo Alto (PANW) surging 7.5%, Barracuda (CUDA) gaining 2.5% to $10.60, FireEye (FEYE) rising 1.5% to $14, Check Point adding 1% to $77.70 and Symantec (SYMC) rising 1.2% to $129.75.
January 28, 2016
06:26 EDTEMCEMC upgraded to Buy on arbitrage opportunity at Mizuho
Subscribe for More Information
January 27, 2016
16:10 EDTEMCEMC upgraded to Buy from Neutral at Mizuho
Subscribe for More Information
13:47 EDTEMCVMware tanks after providing lower guidance amid Cloud transition
Shares of virtualization software maker VMware (VMW) are falling after providing guidance, confirming layoffs and announcing executive changes. WHAT'S NEW: After the close of trading on Tuesday, the software company that is 80% owned by EMC (EMC) and provides software for corporate data centers, announced fourth quarter financial results while confirming earlier reports of layoffs and announcing a new chief financial officer. VMware, along with parent company EMC, is in the midst of a proposed acquisition by Dell. The company's Q4 earnings per share and revenue came in at $1.26 and $1.87B, respectively, slightly better than analysts were expecting; however, the company's view for fiscal year 2016 EPS and revenue of $4.07-$4.16 and $6.8B-$6.9B, respectively, were well below the $4.20 and $7.21B analysts are expecting. VMware also guided first quarter EPS to 83c-85c, also below analysts' 92c consensus. Along with its results, the company confirmed earlier reports that it intended to reduce its workforce by 800 and plans to take a charge of between $55M-$65M related to this action over the course of the first half of 2016. The company also announced that its CFO Jonathan Chadwick is leaving and will be replaced by EMC CFO Zane Rowe. WHAT'S NOTABLE: On its quarterly conference call discussing its earnings, VMware company referred to its growth in "emerging" products and businesses including NSX and User Computing and Virtual SAN, all of which grew strongly over the quarter. The company said it hopes its newer products are picking up the slack due to the declining growth in its mature "compute products." Pat Gelsinger, VMware's chief executive officer, "We recognize that our blockbuster compute products are reaching maturity and will represent a decreasing portion of our business going forward." The company is upgrading its Cloud strategy to better compete with leaders like Amazon (AMZN) and Microsoft (MSFT), which provide Cloud services via the internet and make the corporate data center that VMware focuses on less necessary. ANALYSTS' VIEWS: Summit Research analyst Srini Nandury downgraded VMware to Hold and lowered his price target for the shares to $40 from $80 following the company's quarterly results. The company's business will get worse before it gets better, Nandury told investors in a research note. Another downgrade came from research firm Baird's analyst Jayson Noland, who cut his rating on VMware to Neutral and lowered his price target to $60 from $80. Noland said the core vSphere business is facing incremental public cloud headwinds and substantial uncertainty related to the Class V common stock being issued to finance the EMC acquisition. Providing a more constructive view was UBS who said the current valuation levels of VMware offer a significant opportunity for patient investors. The firm noted the company will temper spending and focus on leveraging public clouds, which should provide a tailwind to both capital and operating expenditures. UBS reiterated its Buy rating and $72 price target on VMware. PRICE ACTION: Shares of VMware are down approximately 40% since the Dell-EMC deal was announced last October and are down over 9% to $44.84 in afternoon trading. OTHERS TO WATCH. Other companies in the cloud computing space include Amazon, Microsoft and Citrix Systems (CTXS).
09:29 EDTEMCFacebook data center project supported by telco heavyweights, FT reports
Subscribe for More Information
09:15 EDTEMCEMC says 'highly confident' in contractual terms of Dell deal
Subscribe for More Information
08:56 EDTEMCEMC CEO says 'very committed' to partnership with Cisco
Subscribe for More Information
07:07 EDTEMCEMC says not providing 2016 outlook given pending merger
Subscribe for More Information
07:07 EDTEMCEMC CFO says confident in exceeding cost reduction goal
Subscribe for More Information
07:06 EDTEMCEMC CEO says progress on closing Dell transaction on track
Subscribe for More Information
07:05 EDTEMCEMC reports Q4 EPS 65c, consensus 65c
Reports Q4 revenue $7B, consensus $7.12B. EMC generated $1.9B in operating cash flow and $1.5B in free cash flow in the fourth quarter, and ended the quarter with $14.8B in cash and investments.
January 26, 2016
16:25 EDTEMCEMC names Denis Cashman CFO
Subscribe for More Information
16:24 EDTEMCVMware appoints Zane Rowe as CFO
Subscribe for More Information
15:20 EDTEMCEarnings Watch: EMC reports as questions linger on Dell deal
Subscribe for More Information
14:32 EDTEMCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
13:41 EDTEMCEMC volatility elevated into Q4 and outlook
Subscribe for More Information
06:00 EDTEMCEU to decide on Dell, EMC deal by February 29, Reuters reports
Subscribe for More Information
1 | 2 >>

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