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February 14, 2013
06:08 EDTEMC, NTAPNetApp execution improving, results more consistent, says Piper Jaffray
Piper Jaffray said its long-term thesis on NetApp (NTAP) remains unchanged following the company's Q3 results. The firm believes NetApp continues to improve its execution and that share loss to EMC (EMC) is narrowing. Piper maintains an Overweight rating on the stock and raised its price target for shares to $39 from $38.
News For NTAP;EMC From The Last 14 Days
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November 24, 2015
15:25 EDTEMCEMC shifts Virtustream plans, to keep majority stake, Reuters says
EMC (EMC) will maintain a majority stake in cloud services provider Virtustream, says Reuters. EMC is giving up on earlier plans to place Virtustream in a joint venture with its virtualization software company VMware (VMW), said Reuters, citing people familiar with the matter. Reference Link
14:59 EDTEMCEMC shifts Virtustream plans, to keep majority stake, Reuters says
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14:14 EDTEMCBig shareholders threaten votes against EMC-Dell deal, Re/code reports
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November 23, 2015
08:17 EDTEMCEMC risk/reward favorable, says Bernstein
Bernstein notes that EMC's stock is trading at an approximately 24% discount to the valuation at which it agreed to be acquired by Dell and Silver Lake. The firm blames the discrepancy on the decline in VMware's stock since the deal was announced and concerns about the VMware tracking stock. Bernstein blames the decline in VMware's stock on concerns about its corporate governance following the deal and its weak revenue guidance issued last month. Nonetheless, Bernstein thinks the EMC deal will probably close and sees the risk/reward ratio of the stock as positive. It keeps a $30 price target and Outperform rating on the shares.
November 20, 2015
11:45 EDTNTAPNimble Storage plummets to 52-week low after results, guidance trail estimates
Shares of Nimble Storage (NMBL), a flash storage solutions provider, are plunging after the company's third quarter results and fourth quarter outlook significantly trailed analysts' consensus estimates. WHAT'S NEW: Thursday night after the close, Nimble Storage reported Q3 adjusted earnings per share of (14c) and revenue of $80.7M, well below the consensus of (8c) and $87.44M, respectively. Q3 non-GAAP gross margin was 66.9% compared to 67.1% in the prior year period. GUIDANCE: Looking ahead to Q4, Nimble Storage forecast adjusted EPS of (13c)-(11c) and revenue of $87M-$90M, far below the estimates of 0c and $99.2M respectively. EXECUTIVE COMMENTARY: Suresh Vasudevan, Chief Executive Officer of Nimble Storage, noted that the company's enterprise investments were "taking longer to become fully productive" and that the shift in investment from commercial to enterprise business "impacted its commercial revenue growth more than they anticipated." Chief Financial Officer Anup Singh said, "We plan to make some key investments to drive growth that will constrain short-term profitability. We believe our planned investments will improve revenue growth as well as operating leverage over time. We expect that it will take several quarters to realize the impact of these investments and have factored that into our guidance for Q4 FY16." ANALYST REACTION: Friday morning there was a wealth of analyst commentary, with eleven separate firms downgrading Nimble Storage. Conversely, Piper Jaffray analyst Andrew Nowinski said Nimble Storage was oversold following the company's Q3 miss and push out of its break-even point beyond 2016. Estimates and the stock's valuation have been de-risked, Nowinski told investors in a post-earnings research note. He kept an Overweight rating on the name and lowered his price target for Nimble to $20 from $37. Jefferies analyst James Kisner recommended using the significant pullback in shares of Nimble Storage as a buying opportunity. Despite the missed Q3 revenue and disappointing Q4 guidance, Nimble's hybrid storage technology remains well differentiated and the total addressable market is large, Kisner told investors in a post-earnings research note. He cut his price target for shares to $20 from $33 and kept a Buy rating on the name. After Nimble reported weaker than expected results, Sterne Agee CRT still believes that the company has "a healthy franchise" in the $75,000-$125,000 price range. The firm continues to believe that the company's Hybrid product is differentiated from competing systems. It kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Nimble Storage fell $10.37, or over 50%, to $10.02 on more than seven times its average daily trading volume. As the session unfolds, the stock continues to hit fresh 52-week lows. Over the past 12 months, the stock is down approximately 62%. OTHERS TO WATCH: Other flash storage solutions providers include Pure Storage (PSTG), down 13%, NetApp (NTAP), up fractionally, SanDisk (SNDK), down fractionally, and Violin Memory (VMEM) down over 6%.
10:31 EDTEMCAttorneys say EMC deal tax worries overblown, dealReporter says
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November 19, 2015
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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