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Stock Market & Financial Investment News

News Breaks
January 24, 2014
08:31 EDTAVT, EMC, NTAPNetApp 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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August 21, 2015
12:13 EDTNTAPBrocade soars after Q3 results top estimates
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August 20, 2015
14:39 EDTEMCEarnings Watch: Hewlett-Packard reports ahead of company split
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10:08 EDTNTAPNetApp sees FY16 revenue to down about 5%
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09:20 EDTNTAPOn The Fly: Pre-market Movers
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06:51 EDTNTAPNetApp product growth still a concern, says Piper Jaffray
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05:55 EDTNTAPStocks with implied volatility above IV index mean; NTAP ATML
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August 19, 2015
18:34 EDTNTAPOn The Fly: After Hours Movers
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18:08 EDTNTAPNetApp advances after Q1 results and current quarter guidance top estimates
Share of computer data software and systems provider NetApp (NTAP) are advancing after reporting first quarter results that surpassed analyst expectations and provided better than expected guidance for the second quarter. WHAT'S NEW: NetApp reported Q1 profit and revenue that surpassed analysts' average estimates. The company reported Q1 earnings per share of 29c on revenue of $1.34B. Analysts were expecting EPS of 23c on revenue of $1.32B. Looking ahead to Q2, the company expects to report EPS of 55c-60c on revenue of $1.4B-$1.5B. Consensus estimates for Q2 were 46c for EPS and $1.39B for revenue at the time of the report. NetApp CEO George Kurian said, "The IT industry as a whole is going through fundamental change as enterprises transform themselves with digital capabilities. Data is at the heart of these transformations and where NetApp has a profoundly important role to play with our differentiated vision for data management." WHAT'S NOTABLE: On the company's Q1 earnings call, the CEO noted the transformation of IT environments. Customers are reducing their spend on traditional storage "which has put pressure on our ONTAP 7 mode business," Kurian noted. The CEO also pointed out that customers are slowing investment in the capacity expansion of their traditional storage environments. These dynamics put pressure on product revenue despite strong growth in other parts of the business, the CEO said. NetApp sees fiscal year 2016 revenue to be lower by 5% year-over-year as FX headwinds continue along with limited top line predictability. ANALYST TAKE: On August 17, Summit Research analyst Srini Nandury downgraded NetApp to Sell, saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury told investors in a research note. PRICE ACTION: Shares of NetApp are up 6.75% in after-hours trading, but off their earlier after-hours high.
17:44 EDTNTAPNetApp sees FY16 revenue to down about 5%
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16:05 EDTNTAPNetApp spikes over 15% after reporting Q1 results, guidance
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16:03 EDTNTAPNetApp sees Q2 EPS 55c-60c, consensus 46c
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16:02 EDTNTAPNetApp reports Q1 EPS 29c, consensus 23c
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15:53 EDTNTAPNetApp August 29.5 straddle priced for 5.3% movement into Q1
14:48 EDTNTAPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include L Brands (LB), consensus 68c... NetApp (NTAP), consensus 23c... Synopsys (SNPS), consensus 59c... Popeyes Louisiana Kitchen (PLKI), consensus 44c... Semtech (SMTC), consensus 24c.
14:16 EDTNTAPNetApp technical comments ahead of earnings
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13:30 EDTNTAPOptions with increasing put volume;
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12:53 EDTNTAPEarnings Watch: Analysts mostly bearish on NetApp ahead of Q1 earnings
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August 18, 2015
13:36 EDTNTAPNetApp August volatility elevated into Q1 and outlook
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August 17, 2015
10:09 EDTNTAPOn The Fly: Analyst Downgrade Summary
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06:04 EDTNTAPNetApp downgraded to Sell from Hold at Summit Research
Summit Research analyst Srini Nandury downgraded NetApp (NTAP) to Sell saying dynamics in the storage industry as well as the company's Cluster ONTAP product transition will make revenue growth "elusive in the near-term." Weaker storage spending and continued problems with getting customers to upgrade to Cluster ONTAP could drive consensus estimates lower from current levels, Nandury tells investors in a research note. Further, the analyst believes NetApp continues to lose high sales performers to competitors such as Nimble Storage (NMBL), Pure Storage, Tegile and Tintri. He expects the company's FY16 revenue to decline 6% on top of the 3% decline in FY15, with only modest growth in FY17. Nandury cut his price target for NetApp shares to $28 from $32. The stock closed Friday up 13c to $30.75.
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