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August 14, 2014
11:45 EDTEMC, NMBL, NTAP, HILLNetApp 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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November 20, 2015
05:46 EDTNMBLNimble Storage downgraded to Sector Perform from Outperform at RBC Capital
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05:45 EDTNMBLNimble Storage downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Maynard Um downgraded Nimble Storage to Market Perform citing a lack of near-term catalysts after the company's Q3 results and outlook missed expectations.
05:44 EDTNMBLNimble Storage downgraded to Equal Weight from Overweight at Barclays
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November 19, 2015
19:19 EDTNMBLOn The Fly: After Hours Movers
UP AFTER EARNINGS: Intuit (INTU), up 8.1%... Ross Stores (ROST), up 8.2%. ALSO HIGHER: Cabela's (CAB), up 7.5% after Bloomberg reported that the company is receiving takeover interest... Nike (NKE), up 3.4% after announcing a $12B repurchase program, a two-for-one stock split, and that it will raise its dividend... Centene (CNC), up 2.4% after reiterating its fiscal 2015 earnings per share guidance... Universal Insurance (UVE), up 2.7% after announcing a new $10M share repurchase program. DOWN AFTER EARNINGS: Nimble Storage (NMBL), down 36.9%... Mentor Graphics (MENT), down 26.2%... Workday (WDAY), down 5.5%... Wesco Aircraft (WAIR), down 1.4%... Williams-Sonoma (WSM), down 3.7%... Zoe's Kitchen (ZOES), down 3.6%... Momo (MOMO), down 3.3%... Autodesk (ADSK), down 1%... Gap (GPS), down marginally.
16:05 EDTNMBLNimble Storage down 30% after reporting Q3 results, giving Q4 guidance
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16:04 EDTNMBLNimble Storage sees Q4 EPS (13c)-(11c), consensus 0c
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16:04 EDTNMBLNimble Storage reports Q3 EPS (14c), consensus (8c)
Reports Q3 revenue $80.7M, consensus $87.44M.
07:00 EDTNTAPCiti sees key unanswered questions after NetApp results
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05:06 EDTNTAPStocks with implied volatility movement; QCOM NTAP
Stocks with implied volatility movement; Qualcomm (QCOM) 36, NetApp (NTAP) 48 according to iVolatility.
November 18, 2015
19:15 EDTNTAPOn The Fly: After Hours Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 16.3%... (CRM), up 5.2%... SINA (SINA), up 2.3%... NetApp (NTAP), up marginally. ALSO HIGHER: KaloBios (KBIO), up 721.3% after the disclosure of purchases by Martin Shkreli and Anthion Partners... Vitae Pharmaceuticals (VTAE), up 23.3% after reporting top-line results from its Phase 1 trial of VTP-43742... DOWN AFTER EARNINGS: Semtech (SMTC), down 8.5% after reporting quarterly results. ALSO LOWER: Sunedison (SUNE), down 10.8% after Reuters reports that Blackstone is not interested in SunEdison investment.
17:34 EDTNTAPNetApp sees FY16 revenue down just over 5%
Sees FY16 gross margin to be down 1-2 points from FY15 and operating margin to be down about 2 points for the year.
17:10 EDTNTAPNetApp says IT spending enviroment continues to be 'constrained'
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16:03 EDTNTAPNetApp sees Q3 EPS 66c-71c, consensus 70c
Sees Q3 revenue $1.4B-$1.5B, consensus $1.48B.
16:02 EDTNTAPNetApp reports Q2 EPS 61c, consensus 57c
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14:47 EDTNTAPNetApp November 31 straddle priced for 8.6% movement into Q2
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14:38 EDTNTAPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Salesforce (CRM), consensus 19c... L Brands (LB), consensus 52c... (CTRP), consensus 9c... NetApp (NTAP), consensus 57c... Keurig Green Mountain (GMCR), consensus 71c.
14:13 EDTNTAPNetApp technical comments ahead of earnings
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November 17, 2015
13:22 EDTNTAPJPMorgan cautious on NetApp into earnings, cuts target to $25
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November 16, 2015
08:12 EDTNTAPNetApp volatility elevated into Q2 and outlook
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November 13, 2015
09:20 EDTEMCCisco CEO says 'certainly have ability to acquire'
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