New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 7, 2013
12:21 EDTAKAM, LLNWLimelight falls after competitor Akamai disappoints Street
Internet content delivery network Limelight Networks (LLNW) is declining after its larger competitor, Akamai Technologies (AKAM), reported lower than expected fourth quarter revenue, and predicted that sales for the current quarter would also come in below expectations. Akamai's earnings per share in the fourth quarter, excluding certain items, beat expectations. The company predicted that its earnings during the current quarter would also surpass analysts' expectations. However, Akamai noted that the guidance for its current quarter factors in a lower tax rate, driven by an R&D tax credit. Moreover, Akamai's guidance implies that its revenue growth will slow during the current quarter. In a note to investors earlier today, Jefferies analyst Aaron Schwartz downgraded Akami to Hold from Buy. Akamai intends to increase its expenditures much more than expected, the analyst wrote. This development, along with the decline in the company's revenue growth, is likely to keep the stock from advancing significantly in the near term, according to Schwartz. In early afternoon trading, Limelight retreated 4% to $2.30, while Akamai tumbled 15.5% to $35.
News For LLNW;AKAM From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
December 15, 2014
08:16 EDTAKAMAkamai should be bought on any weakness, says RW Baird
Baird said investors should be opportunistic buyers on any weakness in Akamai, as the firm's conviction in the strength and drivers of the company's underlying trends were solidified following meetings with management. Baird reiterated its Outperform rating and $71 price target on Akamai shares.
December 8, 2014
12:38 EDTAKAMAkamai management to meet with Pacific Crest
Subscribe for More Information
07:28 EDTAKAMFBN Securities to hold a bus tour
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use