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Stock Market & Financial Investment News

News Breaks
January 30, 2013
06:16 EDTNTAP, TStocks with implied volatility movement; NTAP T
Stocks with implied volatility movement; NetApp (NTAP), AT&T (T) according to iVolatility.
News For NTAP;T From The Last 14 Days
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August 14, 2014
07:44 EDTNTAPNetApp 'undervalued and underappreciated,' says Pacific Crest
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07:33 EDTNTAPNetApp price target raised to $45 from $42 at Brean Capital
Brean Capital raised its price target on NetApp to $45 from $42 following its Q1 results, citing gross margins improvement and higher OEM revenues. The firm keeps its Buy rating on NetApp.
06:47 EDTNTAPNetApp upgraded to Buy from Hold at Needham
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06:39 EDTNTAPNetApp product cycle bottomed in Q4, says Cantor
Cantor Fitzgerald believes NetApp's product cycle bottomed in Q4 after the company reported upside in Q1 and issued a "healthy" outlook for Q2. Cantor sees "excellent execution" by NetApp and a slightly improved spending environment. The firm raised its price target for shares to $47 from $45 and keeps a Buy rating on the stock.
06:37 EDTNTAPNetApp price target raised to $46 from $42 at Piper Jaffray
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August 13, 2014
18:26 EDTNTAPNetApp says seeing rebound in enterprise spending in U.S.
Says seeing momentum in key business areas and expects it to continue through FY15. Says feels "really good" about flash portfolio. Says it has been major part of company's momentum. Says seeing a broader range of products being sold. Expects to continue to generate strong cash flow. Comments from Q1 earnings conference call.
17:43 EDTNTAPNetApp sees FY15 EPS growth just under 10%, consensus $2.96
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16:02 EDTNTAPNetApp sees Q2 adjusted EPS 66c-71c, consensus 69c
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16:01 EDTNTAPNetApp reports Q1 EPS 60c, consensus 57c
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15:05 EDTNTAPNotable companies reporting after market close
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11:27 EDTTJDSU falls after outlook disappoints, analyst downgrades
Shares of JDSU (JDSU), a provider of equipment to telecommunications service providers, are sharply lower after the company's fourth quarter results and first quarter guidance were reported last night. Following the report, the stock was downgraded this morning at two Street research firms. WHAT'S NEW: Last night, JDSU reported fourth quarter adjusted earnings of 14c per share, beating the consensus forecast by 1c, on revenue of $448.6M, which topped the consensus $436.8M view. However, JDSU expects revenue to be $405M-$425M in its first quarter and sees Q1 EPS of 8c-12c, which fell short of consensus of about $441M and 14c, respectively. JDSU's President and CEO Tom Waechter said, "Looking ahead to fiscal 2015, we believe there are strong market drivers across our three business segments, and that we are well positioned with differentiated products and solutions to support our customers as they transition to Software Defined Networks, Network Function Virtualization and more dependency on cloud infrastructure. We continue to lead in our core network and anti-counterfeiting markets and I am pleased with the momentum we are building in our commercial lasers business on the strength of our highly differentiated fiber laser product line." ANALYST OPINION: Following the company's report, B. Riley analyst Dave Kang cut his rating on JDSU shares to Neutral from a Buy rating, citing near-term uncertainties in the North American telecom market. Kang pointed to two events contributing to that uncertainty, namely an architectural shift to SDN, or Software Defined Networking, and AT&T's (T) planned merger with DirecTV (DTV). The analyst acknowledged previously underestimating the potential impact of the SDN shift on the telecom equipment industry and noted that appears to be impacting JDSU's NSE business more than its optical component unit. Kang prefers Finisar (FNSR) over JDSU given the current environment, noting that about 70% of Finisar's sales come from the datacom sector. Kang lowered his price target on JDS Uniphase shares to $11.75 from $15.50. Piper Jaffray analyst Troy Jensen also downgraded JDSU following its report, lowering his rating on the stock to Neutral from Overweight. Jensen also said the company's worse than expected guidance indicates softer Telco spending and he believes JDSU will have trouble showing significant revenue acceleration even if the optical upgrade cycle starts to ramp up. Piper lowered its price target on the stock to $12 from $14. OTHERS TO WATCH: Other providers of telecom equipment include Ciena (CIEN) and Infinera (INFN). PRICE ACTION: In morning trading, shares of JDSU fell $1.12, or 9.4%, to $10.78. Meanwhile, shares of Finisar were down nearly 2% to $19.58, Ciena slipped 1.5% to $18.92 and Infinera was fractionally higher at $9.09.
11:20 EDTNTAPNetApp technical comments ahead of earnings
In the prior three months the stock has outperformed the broader averages, trading up over 12.8%. The trend has been decidedly bullish in this interval without much volatility. This suggests investors and traders are comfortable with the company's prospects and the absence of a substantial short-base reinforces that outlook. When we look at a longer-term chart, it is apparent that the last three months has been a nearly symmetrical but inverse move of the previous quarter. A level that stands out clearly as a result of this six-month long dip and recovery is at $40. The stock would be back on a more neutral technical basis if it can retake and build on a move above the $40 level. And that would given the current price at $39.26 be an easy move if the fundamental news supports it. Additional resistance levels above $40 are at $41.57 and then at $44.32. Both of those levels are prior pivot points on a closing basis. If the news disappoints there are some well-defined levels from the last six months that could become downside objectives. A risk is that without much of a short-base, downside moves could be more extreme. On a scale of increasing disappointment, supports are at $38.12, $36.38, $35, and $33.72.
August 12, 2014
14:55 EDTTFrontier Communications confirms settlement with Connecticut AG over AT&T deal
Frontier Communications (FTR) announced it has reached an agreement with the Connecticut Attorney General and the Office of Consumer Counsel related to Frontierís proposed acquisition of AT&T's (T) incumbent local exchange operations and statewide fiber network that provides services to residential, commercial and wholesale customers in Connecticut. As part of the transaction, Frontier will also acquire AT&T's U-verse video and satellite TV operations in Connecticut. Highlights of the agreement state that for a period of not less than 36 months after the closing of the transaction (i) there will be no increases in the basic primary residential rate in effect for transferred exchanges as of the closing date; and (ii) where available, Frontier has agreed to offer its basic broadband and stand-alone basic broadband product at or below Frontierís current prices. In addition, Frontier has committed to incremental capital investments totaling $63M over 2015, 2016 and 2017 to expand and improve broadband in Connecticut.
07:13 EDTNTAPNetApp shares remain inexpensive, says Cantor
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August 11, 2014
15:45 EDTTSpherix subsidiary settles with AT&T, files joint motion to dismiss
Spherix (SPEX) subsidiary Guidance IP has reached a settlement with AT&T (T), according to a court document filed August 7 in the U.S. District Court for the Northern District of Texas. The settlement stems from a lawsuit filed on December 6, 2013 by Spherix for infringement of its patent entitled, "System and Method for Determining the Geolocation of a Transmitter." Shares of small-cap Spherix are up 19% to $1.75 in later afternoon trading following the circulation of the court filing. Reference Link
August 8, 2014
11:32 EDTTSprint is preparing to engage in fierce pricing war, WSJ reports
Sprint (S) is preparing to engage in a fierce price competition on the heels of an almost complete network revamp, according to the Wall Street Journal, citing Masayoshi Son, the CEO of parent company Softbank (SFTBY). Sprint is currently testing new pricing plans, and will utilize its "street fighter" strategies to take on larger rivals Verizon (VZ) and AT&T (T). "Price competition will intensify. Sprint will soon be ready to join the fray," Son said. Reference Link
08:32 EDTNTAPVMware, others could benefit from increased cloud adoption, says Pacific Crest
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07:56 EDTTSonus Networks upgraded to Outperform from Market Perform at Barrington
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August 7, 2014
11:30 EDTNTAPNetApp August volatility elevated into Q1 and outlook
NetApp August call option implied volatility is at 42, September is at 35, December is at 28; compared to its 26-week average of 29 according to Track Data, suggesting large near term price movement into the expected release of Q1 on August 13.
08:27 EDTNTAPNetApp price target raised to $46 from $41 at Pacific Crest
Pacific Crest raised its price target on NetApp as the firm thinks the stock will be boosted by improving demand fundamentals and conservative Street expectations. The firm's checks indicate that the company's order pipelines are building, while its fundamentals have improved slightly. Pacific Crest does not think that the improvement is reflected in consensus estimates, and it keeps an Outperform rating on the shares.
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