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Stock Market & Financial Investment News

News Breaks
April 5, 2013
10:24 EDTFFIV, JDSU, RVBD, JNPR, FNSRF5 plummets nearly 20% after results miss expectations
F5 Networks (FFIV), which develops networking technology, is tumbling after the company last night announced preliminary second quarter results that were significantly below analysts' expectations. WHAT’S NEW: F5 said that its second quarter earnings per share would be $1.06-$1.07, versus analysts' consensus estimate of $1.23. The technology company's preliminary revenue was also meaningfully below analysts' outlook. Telecom sales and sales to the federal government fell sharply during the quarter, F5 explained. ANALYST REACTION: In a note to clients today, Piper Jaffray analyst Troy Jensen responded to the company's announcement by downgrading the stock to Neutral from Overweight. This is the fourth consecutive quarter that sales of F5's products have dropped, and the company is losing market share, Jensen wrote. Moreover, the analyst stated that he is concerned about the outlook of F5's core Application Delivery Controller market. Jensen slashed his target on the shares to $82 from $107. On the other hand, Wells Fargo was more upbeat about the company's outlook, as it believes that the results probably reflect uneven spending by telecom carriers. F5 has a number of attractive upcoming opportunities, and today's sell-off is probably a good opportunity to buy shares, wrote the firm, which lowered its target on the shares to $97-$103 from $110-$120 but maintained an Outperform rating. OTHERS TO WATCH: Several other network infrastructure companies, such as Juniper (JNPR) and Riverbed (RVBD), are trading significantly lower in the wake of F5's announcement. Also declining are companies such as JDS Uniphase (JDSU) and Finisar (FNSR) that sell optical products to telecom companies, and Radware (RDWR), which develops networking solutions and also reported preliminary results that missed expectations. In a note to clients today, Needham analyst Alex Henderson wrote that F5's lower than expected results were caused by timing issues specific to that company, and do not reflect on the outlook of companies that make similar products. TODAY'S PRICE ACTION: In early trading, F5 sank nearly 20% to $72.70, and Radware also tumbled nearly 20% to $30.20, while Juniper slid 6% to $17 and JDS Uniphase gave back 3% to $12.70.
News For FFIV;JDSU;RVBD;JNPR;FNSR From The Last 14 Days
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October 1, 2014
10:04 EDTJDSUSandell estimates potential value of JDSU at $19-$26 per share
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September 29, 2014
17:20 EDTRVBDEton Park reports 5.63% passive stake in Riverbed
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10:00 EDTFFIVOn The Fly: Analyst Downgrade Summary
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05:38 EDTFFIVF5 Networks downgraded to Neutral from Outperform at RW Baird
RW Baird downgraded F5 Networks to Neutral citing the recent rally in shares and some uncertainty in the Service Provider vertical. The firm keeps a $125 price target for the stock.
September 26, 2014
06:39 EDTFFIVMost connected devices have security flaw, NY Times says
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September 23, 2014
09:28 EDTJNPRJuniper views raised to Positive from Neutral at OTR Global
September 22, 2014
15:15 EDTFFIVF5 Networks volatility flat as shares pullback from two-year high
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September 19, 2014
07:23 EDTJNPRFCC to hold a roundtable
Open Internet Roundtable: Technological Aspects will consider the technical aspects of ensuring an Open Internet, including questions of scope, transparency, blocking, mobile networks, and reasonable network management and is being held at FCC Washington, D.C. offices on September 19 at 1:30 pm. Webcast Link
September 18, 2014
11:56 EDTFNSRFinisar management to meet with Barrington
Meetings to be held in Portland, OR on September 23 and in Seattle on September 24 hosted by Barrington.

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