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News Breaks | | | | March 1, 2013 | | 10:41 EDT |  | NTAP | NetApp calls active on renewed takeover chatter
NetApp March 34 weekly and March 36 calls are active on total call volume of 7,800 contracts (1,500 puts). March call option implied volatility is at 38, April and May is at 34; compared to its 26-week average of 35 according to Track Data. Active call volume suggests traders taking positions large price movement following renewed takeover chatter. | |
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News For NTAP From The Last 14 Days Check below for free stories on NTAP the last two weeks. |
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| May 22, 2013 | | 07:22 EDT |  | NTAP | Fusion-io may be in play after valuation decline, Bloomberg reports
 Subscribe for More Information | | | 07:06 EDT |  | NTAP | NetApp price target raised to $45 from $39 at Piper Jaffray
Subscribe for More Information | | | 07:04 EDT | | NTAP | NetApp product growth remains lackluster, says William Blair
Subscribe for More Information | | | May 21, 2013 | | 18:56 EDT |  | NTAP | On The Fly: After Hours Movers
Subscribe for More Information | | | 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. | | | 16:41 EDT | | NTAP | NetApp reducing workforce by 900, expects $50M-$60M charge
Subscribe for More Information | | | 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. | | | 16:35 EDT |  | NTAP | NetApp initiates quarterly cash dividend of 15c per share
Subscribe for More Information | | | 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. | | | 16:05 EDT | | NTAP | NetApp sees Q1 EPS 45c-50c, consensus 53c
Sees Q1 revenue $1.475B-$1.575B, consensus $1.6B | | | | 16:03 EDT | | NTAP | NetApp reports Q4 EPS 69c, consensus 68c
Subscribe for More Information | | | 15:18 EDT | | NTAP | Notable companies reporting after market close
Subscribe for More Information | | | 15:06 EDT | | NTAP | NetApp May 37 weekly straddle priced for 6.2% move into Q4
| | | 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. | | | 06:33 EDT | | NTAP | NetApp downgraded to Underperform from Neutral at RW Baird
Subscribe for More Information | | | May 17, 2013 | | 15:36 EDT | | NTAP | NetApp May weekly volatility elevated at 61 into Q4
Subscribe for More Information | | | 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. | | | May 16, 2013 | | 14:34 EDT | | NTAP | NetApp spikes higher on Elliott Management stake news
Subscribe for More Information | | | 12:24 EDT |  | NTAP | On The Fly: Midday Wrap
The S&P 500 was virtually unchanged at midday following a deluge of domestic economic data this morning. The S&P began the session in negative territory, but only moderately lower, after investors received a host of data prior to the open, including reports on jobless claims, consumer prices, and housing starts. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares advanced 12% to lead the blue chip index after the company's results beat expectations on the top and bottom lines and prompted price target increases at several analyst firms. Wal-Mart, in contrast, lagged all Dow names, sliding 2% after its earnings for the just ended quarter and its view of the current quarter missed the consensus forecast... After the closing bell, Tesla Motors (TSLA) said it intends to raise about $830M by offering 2.7M common shares and $450M in convertible senior notes. CEO Elon Musk will buy $100M worth of the stock and debt, the company said, and its recently high-flying shares rose another 6%. MAJOR MOVERS: Among the notable gainers rising following Cisco's better than expected results and commentary were Ciena (CIEN), which rose 8%, and Cavium (CAVM), which advanced 4%. Also higher were shares of NetApp (NTAP), which gained over 6% after Bloomberg said activist investor Elliott Management has taken a stake in the company and is pushing its board to explore ways to boost shareholder value. Among the noteworthy losers were Oncothyreon (ONTY), which fell 20%, and Biomarin (BMRN), down 5%, after both pharmaceutical companies, among a number of others, published data to be presented at ASCO, an annual meeting of oncologists. Also lower was AMD (AMD), which declined 14% following a downgrade to Sell at Goldman Sachs. INDICES: Near noon, the Dow was up 12.47, or 0.08%, to 15,288.16; the Nasdaq was up 8.74, or 0.25%, to 3,480.36; and the S&P 500 was nearly flat at 1,658.80. | | | 11:40 EDT | | NTAP | Activist fund Elliott takes stake in NetApp, Bloomberg reports
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