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Stock Market & Financial Investment News

News Breaks
January 15, 2014
11:36 EDTNTAP, DTLK, SYMC, EMCDatalink 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
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March 31, 2015
06:32 EDTEMCBrocade upgraded to Market Perform from Underperform at William Blair
William Blair upgraded Brocade (BRCD) to Market Perform saying the growing tension between EMC (EMC) and Cisco (CSCO) will lead to the company gaining share in Fibre Channel switching.
March 30, 2015
13:06 EDTNTAPNimble Storage announces settlement with NetApp
Nimble Storage (NMBL) announced that it has entered into a written settlement agreement with NetApp (NTAP), effective March 16, that resolves all remaining claims in the parties' outstanding litigation matters. Beginning in October 2013, NetApp initiated litigation against Nimble. The first was a lawsuit in U.S. District Court for the Northern District of California, alleging violations of the federal Computer Fraud and Abuse Act, trade secret misappropriation, and unfair competition, among other claims. The second was a lawsuit filed in May 2014 in the Superior Court of California, County of Santa Clara alleging similar claims, including trade secret and breach of contract. The terms of the settlement are confidential and are not material to Nimble's financial statements. Both cases were formally dismissed with prejudice by the U.S. District Court, Northern District of California and Santa Clara County Superior Court on March 23.
March 27, 2015
10:03 EDTEMCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AEGON (AEG) downgraded to Neutral from Buy at Goldman... Alkermes (ALKS) downgraded to Neutral from Buy at Citigroup... American Eagle (AEO) downgraded to Sell from Neutral at Goldman... ArcelorMittal (MT) downgraded to Sell from Neutral at Citigroup... Black Diamond (BDE) downgraded to Sell from Hold at Feltl... Diodes (DIOD) downgraded to Outperform from Strong Buy at Raymond James... EMC (EMC) downgraded at Pacific Crest... Epizyme (EPZM) downgraded to Neutral from Buy at Citigroup... FutureFuel (FF) downgraded Neutral at Roth Capital... GameStop (GME) downgraded to Neutral from Buy at B. Riley... MSC Industrial (MSM) downgraded to Neutral from Outperform at RW Baird... Pioneer Energy (PES) downgraded to Hold from Buy at Deutsche Bank... Power Integrations (POWI) downgraded to Market Perform at Raymond James... Precision Drilling (PDS) downgraded to Hold from Buy at Deutsche Bank... SanDisk (SNDK) downgraded to Hold from Buy at Evercore ISI... Semtech (SMTC) downgraded to Outperform from Strong Buy at Raymond James... Swiss Re (SSREY) downgraded to Hold from Buy at Jefferies... Vantiv (VNTV) downgraded at SunTrust... Vivendi (VIVHY) downgraded to Underperform from Outperform at Exane BNP Paribas... WESCO (WCC) downgraded to Neutral from Outperform at RW Baird... World Acceptance (WRLD) downgraded to Underperform from Neutral at Macquarie... Zurich Insurance (ZURVY) downgraded to Neutral from Buy at Goldman.
08:03 EDTEMCEMC downgraded at Pacific Crest
As noted earlier, Pacific Crest downgraded EMC to Sector Perform from Outperform. As reasons for the downgrade, the firm cited checks indicating weak Q1 enterprise storage demand, the company's desire to consolidate which could increase near-term execution risks, margin risks due to aggressive pricing, and changes in technology with which the company may not be able to cope.
05:56 EDTEMCEMC downgraded to Sector Perform from Outperform at Pacific Crest
March 25, 2015
08:54 EDTNTAP, SYMC, EMCNetApp Arista among potential takeover targets for EMC, says RBC Capital
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March 23, 2015
15:36 EDTEMCEMC announces the Federation Business Data Lake.
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10:00 EDTNTAP, EMCOn The Fly: Analyst Downgrade Summary
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06:40 EDTNTAP, EMCEMC downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded EMC (EMC) to Neutral to Neutral saying the company is facing increasing pressure from next-gen storage vendors and public cloud providers. Piper notes that it continues to hear Pure Storage and other vendors such as Nimble Storage (NMBL) are making inroads into the installed base of EMC. It cut its price target for shares to $27 from $30. The firm also downgraded NetApp (NTAP) to Neutral this morning for similar reasons, but says EMC has a more defensible position than NetApp.
06:37 EDTNTAPNetApp downgraded to Neutral from Overweight at Piper Jaffray
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March 20, 2015
15:40 EDTSYMCMore cybersecurity firms to come public amid high market demand, Reuters says
With shares of publicly traded cybersecurity companies having recently outperformed the market, a number of privately-held IT security names, including Rapid7, LogRythm and Mimecast, plan to go public in 2015 amid the high level of investor interest, said Reuters, citing people familiar with the matter. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
March 18, 2015
07:49 EDTEMCSenate Judiciary Committee to hold a hearing
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