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Stock Market & Financial Investment News

News Breaks
July 9, 2014
13:44 EDTGIMOGigamon plunges after analysts react to lowered Q2 outlook
Shares of traffic visibility and control technology provider Gigamon (GIMO) are crashing after the company lowered its second quarter revenue outlook based on challenges with closing pipeline deals. WHAT'S NEW: Gigamon cut its Q2 revenue view to $34.5M-$35M from $38M-$42M, stating that it experienced challenges with closing deals in its pipeline during the later stages of the quarter as it continued to see longer review and approval cycles. Prior to the revenue warning, analysts' consensus forecast for the company's revenue was a bit over $40M. The company said it was "disappointed" in the preliminary results, but that it remains confident in its market opportunity and technology "We will take steps to improve our execution in order to grow revenue and improve the predictability of our business. On a positive note, we added 84 new customers during the second quarter," said CEO Paul Hooper. Gigamon added that its Q2 gross margins and operating expenses are expected to be consistent with its previously stated guidance. ANALYST REACTION: After the preliminary revenue announcement, Gigamon was downgraded at Goldman, William Blair, Bank of America Merrill Lynch, Needham, and DA Davidson. William Blair analyst Jason Ader said his downgrade was due to a lack of confidence in Gigamon management's capability of forecasting the business, combined with his rising worries that growth obstacles in the visibility fabric market and competitive pressure could have prompted the recent misses. William Blair says that the material reductions to its Gigamon numbers and uncertainty on future growth and profitability make valuation alone not a good reason to stick with the stock. Goldman Sachs analyst Kent Schofield said he was wrong to recommend that investors purchase Gigamon shares in a January 31 upgrade note. The analyst expects shares of the technology company to remain in the "penalty box" until product revenue growth is reignited, which he does not expect to happen in the near-term. Goldman lowered its 12-month price target on Gigamon to $14 from $29. PRICE ACTION: During afternoon trading, shares of Gigamon fell $5.80, or 32%, to $12.38.
News For GIMO From The Last 14 Days
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October 24, 2014
10:03 EDTGIMOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Align Technology (ALGN) upgraded to Buy from Hold at Jefferies... Brandywine Realty (BDN) upgraded to Buy from Hold at Stifel... Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Feltl... Carpenter Technology (CRS) upgraded to Overweight from Neutral at JPMorgan... Check Point (CHKP) upgraded to Buy from Hold at Needham... Diamond Offshore (DO) upgraded at ISI Group... Digital Realty (DLR) upgraded to Market Perform from Underperform at Cowen... EQT Corporation (EQT) upgraded to Buy from Neutral at SunTrust... Education Realty (EDR) upgraded to Buy from Hold at MLV & Co.... Gigamon (GIMO) upgraded to Neutral from Underperform at BofA/Merrill... Halliburton (HAL) upgraded to Buy from Neutral at Citigroup... Invacare (IVC) upgraded at KeyBanc... Knight Transportation (KNX) upgraded to Neutral from Underperform at Credit Suisse... Logitech (LOGI) upgraded to Buy from Neutral at UBS... Lorillard (LO) upgraded to Market Perform from Underperform at Cowen... Maxim Integrated (MXIM) upgraded to Buy from Hold at Deutsche Bank... NCR Corp. (NCR) upgraded to Neutral from Sell at Goldman... Nabors Industries (NBR) upgraded to Buy from Hold at Argus... Nucor (NUE) upgraded to Outperform from Underperform at CLSA... Old National Bancorp (ONB) upgraded to Buy from Neutral at DA Davidson... Plexus (PLXS) upgraded to Outperform from Market Perform at Raymond James... Potash (POT) upgraded to Buy from Hold at TD Securities... Reliance Steel (RS) upgraded to Buy from Hold at Jefferies... ResMed (RMD) upgraded to Outperform from Market Perform at William Blair... Royal Dutch Shell (RDS.A) upgraded to Buy from Neutral at UBS... Swift Transport (SWFT) upgraded to Buy from Hold at Stifel... Vulcan Materials (VMC) upgraded to Overweight from Equal Weight at Stephens... Weatherford (WFT) upgraded to Buy from Neutral at Citigroup.
09:18 EDTGIMOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Microsoft (MSFT), up 4.3%... KLA-Tencor (KLAC), up 8.8%... Rubicon Project (RUBI), up 17.8%... Gigamon (GIMO), up 16%. ALSO HIGHER: Procter & Gamble (PG), up 2.7% after earning report, announcing plans to exit Duracell business by creating a stand-alone Duracell company... Vitae Pharmaceuticals (VTAE), up 40% following its report of top-line results from two Phase 1 clinical trials... Digital River (DRIV), up 47% after agreeing to be acquired by investor group for $26.00 per share. LOWER: Amazon (AMZN), down 9.3%, downgraded at Cowen and Janney Capital following the company's Q3 report... DryShips (DRYS), down 26% after filing an automatic common stock shelf... NPS Pharmaceuticals (NPSP), down 4.4% following PDUFA date for Natpara extended three months to January 24... Abercrombie & Fitch (ANF), down 4% after downgraded at Goldman and BMO Capital. DOWN AFTER EARNINGS: Pandora (P), down 7%... Synaptics (SYNA), down 9.9%... Flowserve (FLS), down 5%... New Oriental Education (EDU), down 4%.
07:39 EDTGIMOGigamon upgraded to Neutral from Underperform at BofA/Merrill
BofA/Merrill upgraded Gigamon to Neutral citing better than expected quarterly results and guidance driven by renewed momentum from the recently launched GigaVue-HC2 product and news sales personal and management. Price target raised to $16 from $11.
October 23, 2014
18:52 EDTGIMOOn The Fly: After Hours Movers
UP AFTER EARNINGS: Rubicon Project (RUBI), up 19.2%... KLA-Tencor (KLAC), up 15.8%... Gigamon (GIMO), up 13.5%... Maxwell (MXWL), up 11.3%... Qlik Technologies (QLIK), up 9.8%... NetSuite (N), up 5.5%... Microsoft (MSFT), up 3.3%... Juniper Networks (JNPR), reverses in after-hours trading and is up 1.4% after reporting third quarter results and announcing a $1.1B increase to the company's share repurchase authorization. ALSO HIGHER: Vitae Pharmaceuticals (VTAE), up 38.6% following positive top-line results from two Phase 1 clinical trials of BI1181181/VTP-37948... Pfizer (PFE), up 1.8% after announcing a new $11B share repurchase program. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.7%... Synaptics(SYNA), down 12.7%... Pandora (P), down 6.8%... Lattice Semiconductor (LSCC), down 5.6%... Maxim Integrated (MXIM), down 5.8%. ALSO LOWER: DryShips (DRYS), down 16.5% after filing an automatic common stock shelf... NPS Pharmaceuticals (NPSP), down 7.9% following PDUFA date for Natpara extended three months to January 24... GoPro (GPRO), down 2.8% after being initiated with an Underperform at Oppenheimer.
17:46 EDTGIMOGigamon sees Q4 revenue $41M-$44M, consensus $39.05M
16:28 EDTGIMOGigamon reports Q3 adjusted EPS 4c, consensus (4c)
Reports Q3 revenue $39.3M, consensus $35.38M.

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