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Stock Market & Financial Investment News

News Breaks
January 24, 2014
12:00 EDTJNPRJuniper rises 7.5%
Juniper is up 7.5%, or $1.94, to $27.95
News For JNPR From The Last 14 Days
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February 26, 2015
09:04 EDTJNPRJuniper, Canonical form partnership for OpenStack-based cloud solutions
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February 24, 2015
16:20 EDTJNPRVMware appoints Bask Iyer as Chief Information Officer
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15:46 EDTJNPRJuniper CIO leaving company for same role at VMware, Business Insider says
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15:28 EDTJNPRJuniper to hold an analyst and investor update
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09:02 EDTJNPRJuniper adds 2 directors to board, announces agreement with Elliott
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07:14 EDTJNPRCantor to hold a conference
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February 12, 2015
12:28 EDTJNPRBridgewater Associates cut Apple stake in half last quarter
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11:49 EDTJNPRCisco hits 52-week high after Q2 results beat expectations, dividend raised 11%
Shares of networking products company Cisco Systems (CSCO) are rallying after the company's second quarter results surpassed analysts' consensus estimates. WHAT'S NEW: Last night, Cisco reported Q2 adjusted earnings per share of 53c and revenue of $11.94B, topping analysts’ consensus estimates of 51c and $11.8B, respectively. Cash flows from operations were $2.9B in Q2 versus $2.5B in the prior quarter. The company repurchased about 44M shares of stock in the quarter at an average price of $27.63 per share. John Chambers, Cisco's chairman and Chief Executive Officer, said the company grew revenues 7% and delivered strong EPS growth despite a volatile economic environment. WHAT’S NOTABLE: Looking ahead to the third quarter, Cisco forecast EPS of 51c-53c and revenue growth of 3%-5%, compared to analysts' consensus estimates of of 52c and $12.01B, respectively. On the earnings conference call, Chambers said it is "too early to call a turn" in emerging markets. In addition to the better than expected quarterly earnings, Cisco raised its quarterly dividend 11% to 21c from 19c per share. Chief Financial Officer Kelly Kramer said the company is committed to returning at least 50% of its free cash flow annually. ANALYST REACTION: Research firm Piper Jaffray said this morning that it sees little downside risk in Cisco shares and believes Cisco is benefiting from a switching upgrade cycle that should sustain throughout 2015. The firm kept an Overweight rating on the stock with a $33 price target. Conversely, Citigroup said that despite the improving demand seen in Q2, Cisco shares remain fully priced at current levels. Citi continues to view Cisco as a "very low" single-digit grower with no upside to operating margin and tough comps ahead. The firm raised its price target for shares to $25 from $22, but kept a Sell rating on the name. PRICE ACTION: In late morning trading, Cisco rose $2.32 or 8.61% to $29.25 on nearly twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $29.58. Including today's advance, the shares have gained approximately 27% over the past 12 months. OTHERS TO WATCH: Cisco’s main competitor in the networking space, Juniper Networks (JNPR), is up 1.5%.

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