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Stock Market & Financial Investment News

News Breaks
April 5, 2013
10:24 EDTFNSR, JDSU, JNPR, FFIV, RVBDF5 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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February 27, 2015
09:59 EDTJDSUSandell says to hold entire board of JDSU accountable for spin-off structure
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07:20 EDTJDSUJDSUannounces names of new companies, departure of CFO Rex Jackson
JDSU announced yesterday the filing of a Registration Statement on Form 10 with the SEC, in connection with the spinoff of its Communications and Commercial Optical Products business, which will result in two independent, publicly traded companies. JDSU also introduced the new names of the two companies. In addition, the company announced that Rex Jackson, CFO, will depart JDSU September 30, following the expected completion of the spinoff and necessary fiscal year-end filings. Under the plan announced in September 2014, JDSU will spin off its CCOP business, to be named Lumentum Holdings. Lumentum will be a global leader in optical components and subsystems for the telecommunications market, with high growth opportunities in data communications. Alan Lowe will lead Lumentum as CEO. He joined JDSU in September 2007 as senior vice president of the Lasers business and became president of JDSU's newly formed CCOP business segment in 2008. Aaron Tachibana will be Lumentum's CFO. JDSU's Network Enablement, Service Enablement and Optical Security and Performance Products businesses will be renamed Viavi Solutions Inc. at the time of the separation. The Viavi brand is based on the company's ability to deliver the visibility and actionable insight needed to profitably manage the complex transition to next generation networks and services. Tom Waechter, JDSU's current president and CEO, will continue to lead Viavi. Rex Jackson has decided to leave JDSU on September 30, following the expected completion of the separation and the filing of Viavi's Annual Report on Form 10-K. JDSU expects to initiate a search for Jackson's replacement in due course. Current JDSU stockholders will own shares in both corporations following the separation. The spinoff is subject to the satisfaction or waiver of a number of conditions, including the Registration Statement on Form 10 for Lumentum common stock being declared effective by the SEC and certain other conditions described in the information statement included in the Registration Statement and in the agreements to be filed as exhibits to the Registration Statement and other customary matters. JDSU expects all the conditions to the spinoff to be satisfied on or before the distribution date. Approval by JDSU's stockholders is not required for completion of the separation.
February 26, 2015
09:04 EDTJNPRJuniper, Canonical form partnership for OpenStack-based cloud solutions
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February 24, 2015
16:20 EDTJNPRVMware appoints Bask Iyer as Chief Information Officer
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15:46 EDTJNPRJuniper CIO leaving company for same role at VMware, Business Insider says
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15:28 EDTJNPRJuniper to hold an analyst and investor update
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09:02 EDTJNPRJuniper adds 2 directors to board, announces agreement with Elliott
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07:14 EDTJNPRCantor to hold a conference
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February 23, 2015
10:15 EDTFFIVCyberArk sinks after JPMorgan analyst cuts rating to sell
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February 18, 2015
07:18 EDTFFIVF5 Networks coverage assumed with an Outperform at Credit Suisse
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