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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
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March 27, 2015
06:30 EDTAKAMAkamai expands business operations in Canada
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March 25, 2015
08:06 EDTAKAMBioMed Realty leases Akamai 67L square feet in Cambridge Innovation District
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06:40 EDTAKAMAkamai reports Q4 DDos attack traffic up 20% vs. Q3
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March 20, 2015
08:17 EDTAKAMAkamai volatility low as shares near 14-year high
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March 19, 2015
17:16 EDTLLNWLimelight appoints Michael DiSanto as Chief Administrative and Legal Officer
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March 16, 2015
08:40 EDTAKAMAkamai Q1 results likely to beat expectations, says Pacific Crest
Pacific Crest believes that Akamai's traffic growth is accelerating slightly in Q1. As a result, the firm thinks the company's Q1 results should come in near the high end of its guidance and above consensus levels. However, the firm keeps a Sector Perform rating on the shares.

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