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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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March 27, 2015
10:03 EDTJNPR, FFIVOn The Fly: Analyst Initiation Summary
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March 26, 2015
16:36 EDTFFIVF5 Networks initiated with a Buy at Guggenheim
Target $130.
16:34 EDTJNPRJuniper initiated with a Neutral at Guggenheim
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March 25, 2015
07:39 EDTFFIVF5 Networks free cash flow could reach $11 by fiscal 2017, says Pacific Crest
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March 24, 2015
08:56 EDTJDSU, FNSRRBC Capital to hold company meetings at OFC 2015
Company Meetings being held at the Optical Fiber Communication Conference: OFC 2015 in Los Angeles on March 24.
07:32 EDTJDSU, FNSRUBS to hold a field trip
Field Trip: Company Meetings at Optical Fiber Communications Conference, OFC 2015, will be held in Los Angeles on March 24-25.
March 20, 2015
15:40 EDTFFIVMore 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
07:24 EDTJNPRBroadcom chip renews competition with in-house hardware makers, WSJ says
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March 16, 2015
08:29 EDTFFIVChecks on F5 Networks positive, says Deutsche Bank
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