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Stock Market & Financial Investment News

News Breaks
April 5, 2013
10:24 EDTJNPR, FFIV, RVBD, FNSR, JDSUF5 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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December 15, 2014
10:35 EDTRVBDRiverbed going private deal a 'good decision,' says Wells Fargo
Wells Fargo views Riverbed's agreement with Thoma Bravo to go private at $21 per share as a "good decision" for the company given the challenges in its business. Wells thinks the deal represents "fair value" to shareholders and does not expect a higher offer to emerge. It keeps a Market Perform rating on the name.
10:10 EDTRVBDHigh option volume stocks:
High option volume stocks: RVBD AGCO FRO CRUS UBNT LH PAY PETM OREX KOS
09:38 EDTRVBDActive equity options trading
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08:46 EDTRVBDElliot Management says supports Riverbed transaction
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08:37 EDTRVBDRiverbed says board concluded partnering with Thoma Bravo 'best choice' for co.
08:37 EDTRVBDRiverbed to be acquired by Thoma Bravo for $21 per share in cash
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08:36 EDTRVBDRiverbed to be acquired by Thoma Bravo for $21 per share in cash
December 14, 2014
17:21 EDTFFIVNasdaq announces annual re-ranking of the NASDAQ-100
The NASDAQ OMX Group (NDAQ) announced the results of the annual re-ranking of the NASDAQ-100 (NDX), which will become effective prior to market open on Monday, December 22. The following three companies will be added to the Index: American Airlines Group (AAL), Electronic Arts (EA) and Lam Research (LRCX). As a result of the revision in the index methodology allowing multiple share classes of index participants to be included in the index, the following three securities will also be added to the index: Comcast Corporation Class A Special (CMCSK), Twenty-First Century Fox Class B (FOX) and Liberty Global plc Class C (LBTYK). As a result of the re-ranking, the following three companies will be removed from the Index: Expedia (EXPE), F5 Networks (FFIV) and Maxim Integrated Products (MXIM).
13:58 EDTJNPRJuniper and Elliott in talks on board additions, WSJ says
According to a Wall Street Journal report from Friday evening, Juniper Networks and activist investor Elliott Management are in discussions about adding new directors to Juniper's board in a move that may prevent a proxy fight. Elliott management which owns a 9% stake in the telephone equipment maker has suggested certain candidates which Juniper is evaluating, added the Wall Street Journal. Reference Link
December 12, 2014
12:36 EDTJDSUSandell Asset comments on JDSU voting results
Sandell Asset Management issued the following statement after the release of final voting results from the JDS Uniphase 2014 Annual Meeting of Stockholders: “Sandell is encouraged by the support it received from JDSU stockholders, who together voted approximately 57.9 million shares 'AGAINST' current Director Martin Kaplan, or more than 34% of the shares voting at the Annual Meeting. Furthermore, Mr. Kaplan was elected with only 47% of total outstanding shares voting in his favor; approximately 35.4 million shares either voted to abstain or were broker non-votes. The fact that Sandell was able to generate such strong support without actively soliciting proxies from stockholders speaks in our view to the profound frustration of the investor base to the entrenchment actions taken by this company’s Board of Directors and its refusal to conduct a more fulsome process to unlock stockholder value. Sandell has appreciated its dialogue with the stockholders of JDSU, including conversations with some of the company’s largest institutional stockholders. Based on this dialogue, we feel that we have significantly heightened the awareness among stockholders of the company’s troubling governance practices, as well as focused the investor base’s fervent desire to see additional value delivered to the stockholders, who are the true owners of the company. Notably, calls for consolidation in the optical components industry are only growing louder, in our view reinforcing the need to conduct a formal sale process for the CCOP business. The formal communication of this sale process is paramount, as we believe most legitimate strategic acquirers will not dedicate the time and effort required to conduct due diligence and compose a credible offer for CCOP without the express consent from the company and the opening of a comprehensive data room. The fact that leading proxy advisory firm Institutional Shareholders Services noted how the actions of the company served to frustrate the exercise of shareholder rights, coupled with the resulting media attention criticizing the troubling steps that the Board had taken to impinge upon the shareholder franchise, should not go unheeded by the Board of Directors. Furthermore, we remind stockholders that the entire Board is up for election next year. These voting results should serve as a wake-up call to the Board of Directors that the stockholders will not sit idly by and allow their rights to be usurped, nor will stockholders allow the significant value associated with the company’s unique collection of assets to remain obstructed.”
December 11, 2014
10:24 EDTFNSROptions with decreasing implied volatility
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December 10, 2014
10:20 EDTFNSROptions with decreasing implied volatility
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08:16 EDTFFIV, JNPRBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 10 at 10:40 am; not all company presentations may be webcasted.Webcast Link
08:12 EDTFFIVIT security outlook remains positive, says Pacific Crest
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December 9, 2014
14:57 EDTFNSR, JDSUTelecom equipment stocks rally after Verizon CFO comments on wireless CapEx
Telecom equipment stocks, which opened lower, rallied after Verizon (VZ) CFO Fran Shammo said he sees wireless CapEx continuing to trend upward. Shammo, speaking at the UBS 42nd Annual Global Media And Communications Conference, said, "The day we start to cut wireless CapEx is the day we start to wonder where the future of this industry is going." Ciena (CIEN), JDSU (JDSU), and Finisar (FNSR) all reversed earlier losses. PRICE ACTION: In afternoon trading, Ciena is up 1.5%, JDS Uniphase is up 3.8%, and Finisar is up 4.5%. Verizon, which was downgraded this morning to Neutral from Buy by RW Baird, is trading down almost 5%.
10:23 EDTJNPROn The Fly: Analyst Initiation Summary
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07:22 EDTJNPRBMO Capital to hold a conference
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06:39 EDTJNPRJuniper initiated with a Neutral at Wedbush
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December 8, 2014
10:20 EDTFNSROptions with decreasing implied volatility
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07:28 EDTRVBDFBN Securities to hold a bus tour
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