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Stock Market & Financial Investment News

News Breaks
February 7, 2013
12:21 EDTLLNW, AKAMLimelight 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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February 9, 2016
15:02 EDTAKAMEarnings Watch: Akamai to report as client losses, Google competition looms
Akamai (AKAM) is expected to report fourth quarter earnings after the close on Tuesday, February 9, with a conference call scheduled for 4:30 pm ET. Akamai is a provider of cloud computing services and content delivery networks. EXPECTATIONS: Analysts are looking for earnings per share of 62c on revenue of $568.72M. EPS consensus ranges 58c-64c on a revenue range of $559.0M-$576.23M, according to First Call. During the company's last earnings conference call, Akamai forecast Q4 EPS of 60c-64c on revenue of $557M-$577M, and also noted expectations for declining revenue from its large media clients. LAST QUARTER: On October 27, Akamai reported third quarter EPS of 62c against expectations for 58c, and revenue of $551M versus estimates of $550.29M. NEWS: On November 2, Akamai announced the acquisition of cybersecurity firm Bloxx, which it said would enhance its cloud security offerings. On November 19, the company announced a collaboration with Google (GOOG, GOOGL) to reduce hosting and traffic costs for Akamai customers who also use Google's cloud platform. In early December, Google quietly began rolling out its own cloud content delivery network. STREET RESEARCH: Akamai saw no less than five analyst downgrades following its last earnings report, with JPMorgan, Canaccord, Cowen, Craig-Hallum, and FBR all negative on the company in the wake of its disappointing guidance and lower traffic growth from its three largest customers. On November 20, Goldman Sachs downgraded Akamai to Sell and lowered its price target to $52 from $62, with the research firm highlighting reduced orders from large clients as well as an industry focus on cutting download sizes. On November 24, JMP Securities said its checks with content delivery network experts revealed that "very few" of Akamai's clients other than its largest customers can build their own CDN systems. The firm reiterated its Outperform rating and $85 target on the shares, saying Akamai is well-positioned for the growing opportunity in over-the-top streaming and the convergence of cloud security and CDN. On December 9, JPMorgan said Apple's (AAPL) suspension of its TV streaming plans removes a catalyst for Akamai's media business recovery, leading the research firm to struggle to see a near-term driver of sustainable volume improvement. Following reports of Google planning its own content delivery network, JPMorgan and Craig-Hallum cut their outlooks on Akamai on December 14, saying the news could mark a first step toward Google competing for some of Akamai's business. PRICE ACTION: Shares of Akamai have slipped 2.4% to $40.00 ahead of Tuesday's results.
14:48 EDTAKAMAkamai February weekly 40 straddle priced for 14% movement into Q4
14:36 EDTAKAMNotable companies reporting after market close
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February 8, 2016
13:45 EDTAKAMAkamai volatility elevated into Q4 and outlook
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January 31, 2016
20:43 EDTAKAMOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:44 EDTAKAMAutodesk, Akamai among top tech picks after January selloff, Barron's says
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January 26, 2016
14:02 EDTAKAM, LLNWLimelight Networks seeks Supreme Court review of Circuit's Akami decision
Limelight Networks (LLNW) is seeking review by the Supreme Court of the United States of the Federal Circuit's decision to reinstate the 2008 jury verdict that Limelight infringed an Akamai (AKAM) patent. Limelight filed its petition with the Supreme Court earlier. Limelight believes that the Federal Circuit's newly created conduct-attribution standard improperly expands the scope of liability in a fashion that was neither intended by Congress nor consistent with prior legal precedent. As the petition notes, prior to the August 2015 decision to reinstate the jury verdict, the Federal Circuit repeatedly ruled that the district court had correctly determined that Limelight did not infringe Akamai's patent. The court gave no adequate explanation for its sudden reversal. "The court's decision to abandon longstanding, clear and easy-to-follow rules of engagement in favor of an ambiguous 'particular facts presented' standard for infringement liability deprives parties of fair notice concerning the scope of patent protection and ensures a significant increase in needlessly burdensome litigation throughout the technology world," said Bob Lento, Limelight's chief executive officer. "We are hopeful that the Supreme Court will address this issue of extraordinary importance and reverse the Federal Circuit's rootless and erroneous standard. While we continue to pursue all available options, I want to thank our customers, peers in the industry and employees for their support. We remain focused on improving our operational and financial performance and will report our full year results on February 9th."

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