News Breaks |
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| September 12, 2012 |
| 10:14 EDT |  | NTAP, XRTX | Buying opportunity seen in NetApp after supplier lowers outlook
NetApp (NTAP), which develops data storage technology, is falling after one of its suppliers, Xyratex (XRTX), lowered its third quarter revenue guidance last night. Xyratex said it was seeing reduced demand from large original equipment manufacturers, or OEMs, that incorporate Xyratex's enterprise data solutions into their products. NetApp is one of those OEMs. However, Xyratex added that it had also failed to meet "specific technical and performance requirements." These failures, in turn, caused Xyratex to delay recognition of some revenue, the company explained. However, in a note to investors earlier today, Piper Jaffray analyst Andrew Nowinski said he sees any weakness in NetApp's stock resulting from Xyratex's announcement as a buying opportunity. The analyst thinks that NetApp could report strong results for its quarter ended October, as he believes that the government's interest in the company's products increased last month. Moreover, the analyst remains optimistic that NetApp's share of end of year government spending will be similar to prior years. Finally, Nowinski notes that NetApp's increased its spending on "purchased components" by 111% during its quarter ended in July. This increase may have caused NetApp to reduce its purchases from Xyratex during the current quarter, the analyst wrote. In mid-morning trading, Netapp declined 0.43% to $35.06. |
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News For NTAP;XRTX From The Last 14 Days Check below for free stories on NTAP;XRTX the last two weeks. |
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| May 22, 2013 |
| 12:08 EDT |  | NTAP | Options with decreasing implied volatility: ARNA SGMO NTAP CBST GDI
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| 08:59 EDT | | NTAP | On The Fly: Pre-market Movers
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| 08:25 EDT |  | NTAP | NetApp price target raised to $48 from $40 at Deutsche Bank
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| 07:22 EDT |  | NTAP | Fusion-io may be in play after valuation decline, Bloomberg reports
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| 07:06 EDT | | NTAP | NetApp price target raised to $45 from $39 at Piper Jaffray
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| 07:04 EDT | | NTAP | NetApp product growth remains lackluster, says William Blair
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| May 21, 2013 |
| 18:56 EDT | | NTAP | On The Fly: After Hours Movers
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| 17:01 EDT | | NTAP | Elliott sees NetApp buyback, dividend as 'positive steps,' Bloomberg reports
Elliott Management sees NetApp buyback, dividend as 'positive steps,' Bloomberg reports. |
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| 16:41 EDT | | NTAP | NetApp reducing workforce by 900, expects $50M-$60M charge
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| 16:39 EDT | | NTAP | NetApp increases current repurchase program by additional $1.6B
The company is increasing its current stock repurchase program, of which $1.4B billion remains outstanding, by an additional $1.6B. The company plans to complete the aggregate $3B program over the next 3 years. NetApp intends $2B of repurchases to be completed within the next 12 months, of which $1B is planned to be completed during the next 4 months. Under its stock repurchase program, NetApp can purchase shares of its outstanding common stock through open market and privately negotiated transactions at prices deemed appropriate by management. |
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| 16:35 EDT |  | NTAP | NetApp initiates quarterly cash dividend of 15c per share
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| 16:11 EDT |  | NTAP | NetApp rises moderately after results, levels to watch
The shares are up over 2.6% to $37.60 in the extended session after the company's earnings report. The reported quarter beat, but coming quarter EPS was knocked down below consensus. At the current price, next resistance is at $37.84 and then at $39.15, the most recent pivot high. Support is at $37.05. |
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| 16:05 EDT | | NTAP | NetApp sees Q1 EPS 45c-50c, consensus 53c
Sees Q1 revenue $1.475B-$1.575B, consensus $1.6B |
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| 16:03 EDT | | NTAP | NetApp reports Q4 EPS 69c, consensus 68c
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| 15:18 EDT | | NTAP | Notable companies reporting after market close
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| 15:06 EDT | | NTAP | NetApp May 37 weekly straddle priced for 6.2% move into Q4
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| May 20, 2013 |
| 10:11 EDT |  | NTAP | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Artisan Partners (APAM) downgraded to Market Perform from Outperform at Keefe Bruyette... Bank of America (BAC) downgraded to Market Perform from Outperform at Keefe Bruyette... Bed Bath & Beyond (BBBY) downgraded to Hold from Buy at Jefferies... BlackRock (BLK) downgraded to Market Perform from Outperform at Keefe Bruyette... Cavium (CAVM) downgraded to Market Perform from Outperform at JMP Securities... Charles Schwab (SCHW) downgraded to Underperform from Market Perform at Keefe Bruyette... Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Longbow... Equifax (EFX) downgraded to Neutral from Buy at Goldman... Leap Wireless (LEAP) downgraded to Sell from Hold at Deutsche Bank... Lowe's (LOW) downgraded to Perform from Outperform at Oppenheimer... MicroStrategy (MSTR) downgraded to Market Perform from Outperform at JMP Securities... NetApp (NTAP) downgraded to Underperform from Neutral at RW Baird... NeuStar (NSR) downgraded to Neutral from Buy at Goldman... Red Hat (RHT) downgraded to Market Perform from Outperform at BMO Capital... Ruby Tuesday (RT) downgraded to Market Perform from Outperform at Wells Fargo... Synovus (SNV) downgraded to Sell from Neutral at Goldman... TD Ameritrade (AMTD) downgraded to Underperform from Market Perform at Keefe Bruyette... Thoratec (THOR) downgraded to Neutral from Buy at Goldman... CF Industries (CF) downgraded to Hold from Buy at Miller Tabak... Children's Place (PLCE) downgraded at Susquehanna... CarMax (KMX) downgraded to Market Perform from Outperform at William Blair... SanDisk (SNDK) downgraded to Neutral from Buy at Nomura... Red Hat (RHT) downgraded at BMO Capital... Rex Energy (REXX) downgraded to Hold from Buy at Stifel... Range Resources (RRC) downgraded to Hold from Buy at Stifel... Kansas City Southern (KSU) downgraded to Sell from Hold at Stifel... Capella Education (CPLA) downgraded to Hold from Buy at Stifel. |
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| 06:33 EDT | | NTAP | NetApp downgraded to Underperform from Neutral at RW Baird
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| May 17, 2013 |
| 15:36 EDT | | NTAP | NetApp May weekly volatility elevated at 61 into Q4
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| 07:54 EDT | | NTAP | NetApp investment thesis continues to play out, says Brean Capital
Brean Capital believes its buy thesis on NetApp continues to play out as expected and expects the company can achieve current Street estimates and manage operating expenses in the near-term. Shares are Buy rated with a $42 price target. |
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