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Stock Market & Financial Investment News

News Breaks
January 24, 2014
08:31 EDTNTAP, AVT, EMCNetApp EMC have positive read throughs from Avnet results, says Wells Fargo
Wells Fargo reports that Avnet (AVT) said it had benefited from strong year-end enterprise IT demand, particularly in software and storage. The firm thinks the strong storage trends identified by Avnet bode well for NetApp (NTAP), EMC (EMC), and other storage vendors. The firm keeps a Market Perform rating on NetApp and an Outperform rating on EMC.
News For NTAP;EMC;AVT From The Last 14 Days
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May 21, 2015
06:36 EDTNTAPNetApp downgraded to Hold from Buy at Cantor
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06:33 EDTNTAPNetApp downgraded to Underweight from Neutral at JPMorgan
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May 20, 2015
20:01 EDTNTAPNetApp expects to terminate 500 employees, sees $25M-$35M charge
In a regulatory filing earlier, NetApp reported that on May 19, the company committed to a "realignment." The company expects that the realignment 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. NetApp expects that most of these charges will be cash expenditures. The company expects to recognize the majority of these charges 1Q16.
19:02 EDTNTAPOn The Fly: After Hours Movers
UP AFTER EARNINGS: salesforce.com (CRM), up 6.6%... Williams-Sonoma (WSM), up 4%. ALSO HIGHER: CTPartners (CTP), up 42% after agreeing to exclusive negotiations to be acquired by DHR International. DOWN AFTER EARNINGS: Xunlei (XNET), down 14.9%... NetApp (NTAP), down 8%... Open Text (OTEX), down 7.7%.... Rexnord (RXN), down 7.1%... Synopsys (SNPS), down 1.5%... Youku Tudou (YOKU), down 1.2%. ALSO LOWER: Wave Systems (WAVX), down 8.5% after filing to sell Class A common stock and warrants... OXiGENE (OXGN), down 5.1% after filing mixed securities shelf.
17:50 EDTNTAPNetApp management sees return to growth trajectory in second half of FY16
Management sees a year of strong cash flow generation. 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 that the company is well positioned for the era of cloud computing. Management stated that the company expects to reduce its share count by another 5%. Management stated that it sees operating margins back in range in second half. Comments made during Q4 earnings conference call.
16:20 EDTNTAPNetApp raises quarterly dividend by 9% to 18c per share
NetApp increased the 1Q16 dividend by 9% to 18c per share. The dividend will be paid on July 23, to shareholders of record as of the close of business on July 10.
16:13 EDTNTAPNetApp down 6.3% after reporting Q4 results
16:11 EDTNTAPNetApp sees Q1 EPS 20c-25c, may not compare to consensus 60c
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16:09 EDTNTAPNetApp reports Q4 EPS 65c, consensus 72c
Reports Q4 revenue $1.54B, consensus $1.59B.
15:00 EDTNTAPNotable companies reporting after market close
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14:08 EDTNTAPNetApp technical comments ahead of earnings
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13:37 EDTNTAPEarnings Watch: Analysts concerned with competition hurting NetApp results
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May 19, 2015
15:38 EDTNTAPNetApp May volatility elevated into Q4 and outlook
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07:41 EDTNTAPNetApp May volatility elevated into Q4 and outlook
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07:19 EDTAVTAvnet may be preparing to make acquisition, says SunTrust
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May 18, 2015
07:27 EDTEMCJPMorgan to hold a conference
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May 15, 2015
17:33 EDTEMCPoint72 Asset Management gives quarterly update on stakes
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16:51 EDTEMCGreenlight Capital gives quarterly update on stakes
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12:13 EDTEMCThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
May 14, 2015
06:24 EDTNTAPCiti expects 'lukewarm' Q4 results from NetApp
Citigroup expects NetApp to report "lukewarm" Q4 results on Wednesday amid "soft" underlying storage demand and "modest" currency pressure. The company's sales and earnings are likely to be in-line to a slight miss relative to consensus, Citi believes. The firm says that while the stock's valuation "looks interesting," it keeps a Neutral rating on the name with a $39 price target.
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