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Stock Market & Financial Investment News

News Breaks
January 14, 2013
16:08 EDTGSIT, CSCOGSI Technology raises Q3 revenue view to $17.5M from $15M-$16M
Consensus $15.5M. GSI also reported that Q3 direct and indirect sales to its largest customer, Cisco Systems (CSCO), are expected to be approximately $6.5M, compared to $4.9M in the previous quarter. In addition, shipments to military customers were up significantly compared to the prior quarter. The company cautioned that these results are preliminary and subject to change and expects to release its Q3 financial results after the market close on Thursday, January 31.
News For GSIT;CSCO From The Last 14 Days
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September 2, 2014
13:04 EDTCSCOFinisar retreats after analyst cuts on pricing, demand worries
Shares of optical components maker Finisar (FNSR) are falling after research firm Jefferies downgraded the stock to Hold from Buy in a note to investors today, citing pricing and demand concerns. WHAT'S NEW: After conducting checks, Jefferies analyst James Kisner wrote that Finisar is facing "brutal" prices for datacom optics, particularly in China. Prices for telecom components in North America are also challenging for Finisar, he reported. Various low-cost competitors are driving down prices for datacom optics, while AT&T (T) is trying to force optical systems vendors to cut the prices of their components by 40%, Kisner stated. Meanwhile, demand for mobile backhaul optics slowed significantly in China over the last month, and two of Finisar's customers - Cisco (CSCO) and Huawei - are exploring alternatives to Finisar's products, Kisner indicated. Additionally, Intel (INTC) and numerous start-ups may launch products that will compete with those of Finisar, potentially cutting into its market share beginning in the second half of 2015, the analyst warned. He cut his price target on the shares to $19 from $25. PRICE ACTION: In early afternoon trading, Finisar slumped 5.5% to $19. Other optical components makers also dropped, with Oclaro (OCLR) falling 1% to $1.75 and JDS Uniphase (JDSU) losing 2% to $11.30.
September 1, 2014
14:07 EDTCSCOCowen and Cisco to hold a conference call
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14:00 EDTCSCOCisco to hold a conference call
Vice President and General Manager-Computing Systems Perez discusses Cisco's new UCS innovations and portfolio expansion on a conference call to be held on September 4 at 12 pm. Webcast Link
11:13 EDTCSCOStephens to hold an investor trip
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August 31, 2014
13:27 EDTCSCOAT&T to hold a conference
16th Annual AT&T Cyber Security Conference will be held in New York on September 3-4 with webcast availability on September 4 at 9 am; Webcast Link
August 29, 2014
06:15 EDTCSCOCisco implied volatility of 13 at lower end of index mean range
August 27, 2014
12:13 EDTCSCOAruba Networks climbs after earnings beat prompts upgrades
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08:48 EDTCSCOAruba Networks upgraded to Overweight at Stephens
As previously reported, Stephens upgraded Aruba Networks (ARUN) to Overweight from Equal Weight and raised its price target on the stock to $25 from $22, citing the company's strong Q4 results and the firm's belief that Cisco (CSCO) has become increasingly less competitive over the last several quarters.
August 20, 2014
06:26 EDTCSCOCisco COO says annual layoffs 'wrong way to do it,' Business Insider reports
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August 19, 2014
11:05 EDTCSCOImperva seen as takeover candidate under new CEO
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09:47 EDTGSITGSI Technology receives unsolicited acquisition proposal for $6.50 per share
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09:02 EDTGSITGigOptix offers to acquire GSI Technology for $6.50 per share
GigOptix (GIG) announced that it is proposing to acquire all of the outstanding shares of GSI Technology (GSIT) for per share consideration of $6.50, consisting of (i) $2.00 per share in cash, (ii) GigOptix common stock worth $1.33 based upon the volume-weighted average price of GigOptix’s common stock for the three trading days ending one day prior to the closing of the combination and (iii) a special dividend of $3.17 per share in cash payable by GSI Technology. The offer has a combined value of approximately $6.50 in the aggregate and represents about a 32% premium above the closing price of GSI Technology common stock on August 18, 2014. On a preliminary basis and subject to confirmatory due-diligence, GigOptix believes that the combination, which would have generated approximately $86M in sales based on the reported revenue results over the most recent trailing twelve months for each company, would be immediately accretive on an Adjusted EBITDA basis. GigOptix believes this proposed combination would receive all necessary regulatory approvals and expects that the proposed transaction would be completed in the fourth quarter of calendar 2014. GigOptix is committed to working closely with GSI Technology’s management and its board of directors as they, along with GSI Technology’s shareholders, evaluate this compelling proposal. GigOptix has received a commitment letter from Opus Bank to fully debt finance the cash portion of the consideration paid by GigOptix. A copy of the letter was provided to GSI Technology’s management and board of directors. GigOptix’s proposal is subject to the negotiation of a definitive merger agreement, and receipt of necessary board, stockholder and regulatory approvals, as well as completion of a due diligence review of GSI Technology. GigOptix would also require the approval of its stockholders to increase its available common stock and approve the issuance of shares in connection with the transaction.
08:42 EDTCSCOImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.

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