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Stock Market & Financial Investment News

News Breaks
August 14, 2014
11:45 EDTHILL, EMC, NMBL, NTAPNetApp rises after earnings beat, Needham upgrade
Shares of storage systems provider NetApp (NTAP) are advancing after the company posted better than expected first quarter results and received positive analyst commentary. WHAT'S NEW: Last night, NetApp reported Q1 adjusted earnings per share of 60c and revenue of $1.49B, beating analysts' consensus estimates of 57c and $1.47B, respectively. Q1 adjusted gross margin was 64.3%. WHAT'S NOTABLE: NetApp forecast second quarter adjusted EPS of 66c-71c and revenue of $1.49B-$1.59B, compared to consensus of 69c and $1.53B, respectively. For fiscal 2015, the company sees EPS growth just under 10% and revenue growth in the mid-single digits. FY15 adjusted gross margin is seen at 63%-64%. On NetApp's Q1 conference call, management said it was seeing a rebound in enterprise spending in the U.S. ANALYST REACTION: This morning, analyst commentary was overwhelmingly positive. Needham upgraded NetApp to Buy from Hold following its strong Q1 report, citing better enterprise spending. Their price target was $49. Two firms, Piper Jaffray and Brean Capital, raised their respective price targets on NetApp and Pacific Crest said NetApp is "'undervalued and underappreciated," noting that the company's Q1 results included 13% earnings growth year-over-year. PRICE ACTION: In late morning trading, NetApp rose $1.47, or 3.7%, to $40.77 on heavy trading volume. Despite today's advance, the stock is down approximately 4% over the past 12 months. OTHERS TO WATCH: Other companies in the storage space include: EMC (EMC), Dot Hill Systems (HILL) and Nimble Storage (NMBL).
News For NTAP;EMC;HILL;NMBL From The Last 14 Days
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August 19, 2015
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 EDTHILLOn The Fly: Top stock stories at midday
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13:30 EDTNTAPOptions with increasing put volume;
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12:53 EDTNTAP, NMBLEarnings Watch: Analysts mostly bearish on NetApp ahead of Q1 earnings
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11:03 EDTHILLDot Hill Systems downgraded to Neutral from Buy at Sidoti
Sidoti downgraded Dot Hill Systems (HILL) to Neutral after the company agreed to be acquired by Seagate (STX) for an 88% premium or $9.75 per share.
10:05 EDTHILLHigh option volume stocks
High option volume stocks: MNTA TUR ITB CLR HILL DV AU XLNK AEO CYBR
10:00 EDTHILLOn The Fly: Analyst Downgrade Summary
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09:19 EDTHILLOn The Fly: Pre-market Movers
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05:32 EDTHILLDot Hill Systems downgraded to Neutral from Overweight at Piper Jaffray
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August 18, 2015
18:32 EDTHILLOn The Fly: After Hours Movers
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18:31 EDTHILLDot Hill Systems up 82% to $9.45 after agreeing to be acquired by Seagate
18:04 EDTHILLSeagate to acquire Dot Hill Systems for $9.75 per share, or $694M
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18:01 EDTHILLSeagate to acquire Dot Hill Systems for $9.75 per share, or $694M
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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 EDTNTAP, NMBLNetApp 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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