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February 14, 2013
17:44 EDTAPC, CTXS, F, MSSoros reports new stakes in Morgan Stanley, Citrix, Anadarko, Ford
News For MS;CTXS;APC;F From The Last 14 Days
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November 17, 2015
19:25 EDTCTXSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Jack in the Box (JACK), up 3.7%... Vipshop Holdings (VIPS), up 2.2%. ALSO HIGHER: Universal Insurance (UVE), up 5.3% after issuing a statement saying that Lakewood Capital Management's statement was misleading... Norfolk Southern (NSC), up 2% after confirming a merger offer from Canadian Pacific (CP). LOWER: Citrix Systems (CTXS), down 1.8% after announcing operational review and the spin off of its GoTo family of products.
19:22 EDTCTXSCitrix to cut 1,000 full-time, contract jobs
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16:34 EDTCTXSCitrix to hold a conference call
Management provides the results of its on-going operational and strategic reviews, as well as its business outlook for fiscal year 2016 and 2017 on a conference call to be held on November 17 at 4:45 pm. Webcast Link
16:14 EDTCTXSCitrix sees FY16 revenue up 1%-2%
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16:14 EDTCTXSCitrix announces increase of focus on core enterprise strategy
Citrix Systems announced the initial results of its operations review. The decisions made will allow the company to significantly increase focus on its core enterprise strategy of secure and reliable delivery of applications and data, and consequently build a more efficient, scalable and profitable company. Immediate actions include rationalizing the company's current product portfolio, realigning and optimizing operations and resources, and a restructuring of its labor force. Key conclusions and initial plans from the company's operational review include, but are not limited to: A determination that a spinoff of the GoTo family of products into a separate public company is in the best interest of all stakeholders, allowing both companies to enhance its strategic focus and respective competitive positions, while permitting Citrix to improve operational efficiency. Please see news release here for additional detail. Plans to increase emphasis and resources to core enterprise products for secure and reliable application and data delivery, including XenApp, XenDesktop, XenMobile, ShareFile and NetScaler. To achieve this focus, the company will end investment in certain other products and programs, in some cases moving technologies into strategic products, in other cases providing an orderly end-of-life to non-core products. The evaluation of all products, technologies, offerings and programs is ongoing, and will focus on enterprise readiness, ability to drive customer value, and growth and profitability prospects. A realignment of resources that is expected to eliminate about 1,000 full-time and contract roles, excluding the effect of spinning off the GoTo business. The restructuring will focus on simplification of the company's enterprise go-to-market motion and roles while improving coverage, reflect changes in the company's product focus, and balance resources with demand across the company's marketing, general and administration areas. The majority of these actions will take place in November 2015 and in January 2016. As a result of these actions, Citrix said it expects to achieve approximately $200M in annualized pre-tax cost savings, with approximately 75% of those cost savings anticipated to be realized in FY16. Citrix currently expects to incur pre-tax charges in the range of approximately $65M-$85M related to employee severance arrangements during the Q4 of FY15 and during FY16.
16:12 EDTCTXSCitrix targets at least 28% non-GAAP operating margin for FY16
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16:12 EDTCTXSCitrix targets at least 30% non-GAAP operating margin for FY17
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16:11 EDTCTXSCitrix sees FY16 non-GAAP EPS $4.40-$4.50, consensus $4.21
16:09 EDTCTXSCitrix apppoints Tim Minahan as Chief Marketing Officer
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16:07 EDTCTXSCitrix to spin off GoTo family of products
Citrix Systems announced plans to spin off its GoTo family of products into a separate, publicly traded company. The transaction, which is intended to be a tax-free spinoff to Citrix shareholders, is expected to be completed in the second half of 2016. Citrix's announcement to pursue a separation follows a thorough review of strategic alternatives for the GoTo family of products. Citrix believes that this strategic decision will allow Citrix and the company established by the spinoff to enhance their strategic focus and respective competitive positions, while permitting Citrix to improve operational efficiency. Immediately following the separation, Citrix shareholders will own shares in two publicly traded companies: The company established as a result of the spinoff will be made up of GoToAssist, GoToMeeting, GoToMyPC, GoToTraining, GoToWebinar, Grasshopper and OpenVoice. This company will more effectively allocate resources in line with its own market opportunity, unique growth priorities and go-to-market capabilities, as well as adapt more quickly to SaaS market and customer dynamics; and, Citrix, which will focus on its strategic solutions for secure and reliable delivery of applications and data. Upon completion of the separation, Chris Hylen, who currently serves as senior vice president and general manager of the Citrix Mobility Apps Business Unit, will serve as CEO of the new company. Citrix plans to provide further details about the board and management team as it works towards completion of the separation. Citrix will disclose additional information regarding the spinoff, including historical financial and capitalization information, in a Form 10 to be filed with the SEC on a future date. The name of the new company will be determined in the coming months.
11:51 EDTCTXSCitrix management to meet with Pacific Crest
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09:44 EDTMSBrookings Institute to hold a discussion
The Hutchins Center on Fiscal and Monetary Policy at Brookings and Ben Bernanke host a discussion with Betsy Graseck of Morgan Stanley, Governor Tarullo of the Federal Reserve on the role of collateral in the financial system, liquidity in bond markets and the shadow banking system in a meeting being held in Washington, D.C. on November 17 at 1:30 pm. Webcast Link
08:38 EDTAPCApache assets do not warrant a premium, says Canaccord
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08:10 EDTAPCMitsubishi UFJ to hold a conference
Oil & Gas Conference is being held in New York on November 17.
08:00 EDTFFord says launching new Escape
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07:48 EDTMSBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
November 16, 2015
12:56 EDTFFord faces trial over allegedly exaggerated MPG estimates, Bloomberg says
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08:20 EDTFFord sold remaining interest in Mazda, Nikkei reports
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07:50 EDTCTXSUBS to hold a conference
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07:42 EDTAPCAnadarko named a Top Pick at Cowen
Cowen moved Anadarko (APC) to a Top Pick, citing valuation and the company's ability to execute large, complex mergers. Cowen noted Anadarko approached Apache (APA) and declined when the deal did not happen, but the firm sees material upside for Anadarko shares. Cowen reiterated its Outperform rating and $87 price target on Anadarko.
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