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Stock Market & Financial Investment News

News Breaks
January 22, 2013
14:08 EDTLLNWLimelight Networks names Robert Lento as CEO, effective immediately
Limelight Networks announced the appointment of Robert Lento as CEO, effective immediately. Lento has been serving as the company's Interim CEO since November 26, 2012. Lento brings over 30 years of industry knowledge and leadership experience to Limelight Networks. Prior to joining Limelight, Lento spent 14 years at Convergys, serving a decade as the senior sales executive.
News For LLNW From The Last 14 Days
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October 16, 2014
12:52 EDTLLNWAkamai retreats after Wells cuts rating on traffic trends
Shares of Akamai (AKAM) are falling after Wells Fargo downgraded the stock to Market Perform from Outperform, saying its research indicates the company's traffic has been moderating in recent weeks. Akamai provides services for the delivery of content over the Internet. WHAT'S NEW: The amount of video and audio streaming being handled by Akamai has slowed during the first two weeks of October when compared with the third quarter, Wells Fargo wrote in a note to investors today. Although Akamai's revenue growth does not correlate directly with changes in the traffic it handles, traffic trends have provided indications about the direction of the company's revenue growth in the past, the firm stated. Additionally, Akamai is facing tough comparisons this quarter, and its international business will be hurt by the strong dollar, the firm contended. Wells predicted the company's 2014 and 2015 earnings would miss expectations and cut its price target range on the name to $57-$61 from $70-$75. OTHERS TO WATCH: Limelight Networks (LLNW) and Level 3 Communications (LVLT) also provide Internet content delivery services. PRICE ACTION: In early afternoon trading, Akamai fell 3% to $53.

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