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Stock Market & Financial Investment News

News Breaks
March 27, 2014
07:58 EDTNMBLNimble Storage new software improves outlook, says Pacific Crest
Pacific Crest believes that the new version of Nimble's storage software should improve its competitive positioning, increase its revenue from existing customers, and increase its exposure to the cloud. The firm expects the company to grow at least 53% in FY15, and it thinks the stock's recent decline has created an attractive entry point. It recommends that investors buy the shares.
News For NMBL From The Last 14 Days
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May 26, 2015
19:25 EDTNMBLOn The Fly: After Hours Movers
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16:04 EDTNMBLNimble Storage sees Q2 EPS (12c)-(11c), consensus (12c)
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16:04 EDTNMBLNimble Storage reports Q1 EPS (10c), consensus (13c)
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15:00 EDTNMBLNotable companies reporting after market close
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10:38 EDTNMBLEMC to expand in cloud with purchase of Virtustream for $1.2B
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May 21, 2015
11:39 EDTNMBLNetApp hits 52-week low after results, outlook miss expectations
Shares of storage company NetApp (NTAP) are falling after the company’s fourth quarter results and first quarter outlook significantly trailed analysts’ consensus estimates. WHAT'S NEW: Yesterday, NetApp reported Q4 adjusted earnings per share of 65c and revenue of $1.54B, trailing analysts’ consensus estimates of 72c and $1.59B, respectively. The company raised its quarterly dividend 9% to 18c per share. It also announced a “realignment” that will be implemented through the end of 3Q16. As part of the realignment, NetApp expects to reduce worldwide headcount by approximately 500 employees. The company expects to incur aggregate charges of approximately $25M-$35M for employee terminations and other costs associated with the realignment. WHAT’S NOTABLE: Looking ahead to Q1, NetApp forecast adjusted EPS of 20c-25c and revenue of $1.275B-$1.375B, well below the consensus of 60c and $1.46B, respectively. On the company’s conference call, management said it sees a return to a growth trajectory in second half of FY16. OEM revenue ended at less than 10% of FY15 net revenues and normalized to a level of revenue that the company will no longer discuss separately, management stated, adding that the company is well positioned for the era of cloud computing. They expect to reduce the company’s share count by another 5%, and see operating margins back in range in the second half of the year. ANALYST REACTION: This morning, JP Morgan, Cantor, Summit Research and Needham all downgraded NetApp following its Q4 report. JPMorgan went to Underweight on NetApp, citing the "tough" Cluster ONTAP product transition after the company's Q1 revenue guidance missed expectations. The firm cut its price target for shares to $29 from $35. Cantor Fitzgerald's Brian White downgraded NetApp to Hold from Buy, citing execution issues with the product transition and secular challenges for the storage market, and cut his price target for shares to $35 from $43. Last night marked the seventh time in eight quarters that NetApp missed estimates, Summit Research noted. PRICE ACTION: In late morning trading, NetApp fell $4.17, or about 12%, to $31.16 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $30.90. Including today's pull back, the shares have lost approximately 10% over the past 12 months. OTHERS TO WATCH: Other companies in the in the storage space include EMC Corporation (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
May 20, 2015
13:37 EDTNMBLEarnings Watch: Analysts concerned with competition hurting NetApp results
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