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Stock Market & Financial Investment News

News Breaks
January 24, 2014
10:53 EDTJNPR, CSCOJuniper hits 52-week high after better than expected results, new operating plan
Shares of network infrastructure provider Juniper Networks (JNPR) are rallying after the company reported better than expected results and announced the pending release of a new operational plan. WHAT'S NEW: Last night, Juniper reported preliminary fourth quarter earnings of 43c per share and revenue of $1.27B, exceeding expectations of 37c and $1.22B, respectively. The company gave in-line guidance for the first quarter. On Juniperís fourth quarter earnings conference call, CEO Shaygan Kheradpir said the company will announce a new operational plan within 3-4 weeks, including discrete milestones. WHATíS NOTABLE: Last night, in a letter to Juniper, activist investor Jana Partners backed Elliot Managementís recent plan to unlock significant shareholder value by cost realignment, capital return to shareholders, and the optimization of Juniperís product portfolio. ANALYST REACTION: This morning, analyst commentary was overwhelmingly positive. Three firms -- William Blair, Barclays, and Goldman Sachs -- upgraded Juniper after the companyís better than expected results and announcement of its new operating plan. Another firm, Cantor, raised its price target on the shares to $35 from $30.50. Cantor said the stock's valuation was attractive, and believed the shares could advance meaningfully over the next year. It kept a Buy rating on the stock. PRICE ACTION: Juniper rose $2.42, or 9.3%, to $28.43 on nearly twice its average daily trading volume in morning trading. Earlier in the session, the stock hit a fresh 52-week high of $28.58. Over the past twelve months, the stock is up approximately 33%. OTHERS TO WATCH: Juniperís main competitor in the network space is Cisco Systems (CSCO).
News For JNPR;CSCO From The Last 14 Days
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October 23, 2014
16:14 EDTJNPRJuniper down 6.5% after reporting Q3 results
16:14 EDTJNPRJuniper sees FY15 operating expenses $1.9B plus or minus $25M
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16:13 EDTJNPRJuniper sees Q4 adjusted EPS 28c-32c, consensus 41c
Sees Q4 revenue $1.03B-$1.08B, consensus $1.18B. Sees non-GAAP gross margins approximately 64%, plus or minus 0.5%.
16:12 EDTJNPRJuniper reports Q3 EPS 36c, consensus 35c
Reports Q3 revenue $1.13B, consensus $1.13B.
16:11 EDTJNPRJuniper approves $1.1B increase to share repurchase authorization
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15:30 EDTJNPRNotable companies reporting after market close
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13:57 EDTJNPREarnings Preview: Juniper sees Q3 EPS 34c-36c on revenue of $1.11B-$1.12B
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12:49 EDTJNPRJuniper Seagate weekly volatility increases into Q3 and outlook
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11:29 EDTJNPRJuniper to host investor day
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October 22, 2014
11:25 EDTCSCOCisco sale of VCE stake to have limited impact, says Wells Fargo
Wells Fargo thinks Cisco's (CSCO) decision to sell a portion of its stake in VCE is unlikely to have a material near-to-intermediate-term impact on the company's top line since it will continue to sell its networking and compute solutions to the joint venture. Wells says Cisco's "budding" partnerships with NetApp (NTAP), Microsoft (MSFT) and Citrix (CTXS) should more than offset any potential impacts from lessening ties to EMC (EMC) and VMware (VMW).
08:18 EDTCSCOVCE to become an EMC company
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October 21, 2014
20:00 EDTCSCOEMC said to buy out most of Cisco VCE joint venture stake, Bloomberg reports
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14:34 EDTCSCOEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMCís majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMCís Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
October 17, 2014
09:31 EDTCSCOCisco namnes Bernadette Wightman President of Cisco Cananda
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08:06 EDTCSCOCisco, Sensity Systems announce strategic relationship
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October 15, 2014
06:15 EDTCSCOCisco lays off 900 in San Jose area, Silicon Valley Business Journal says
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October 13, 2014
10:08 EDTJNPROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:23 EDTJNPRHP could buy lower valuation company, says Bernstein
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07:23 EDTJNPRJuniper downgraded to Hold from Buy at Argus
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October 12, 2014
17:20 EDTCSCOGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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