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Stock Market & Financial Investment News

News Breaks
December 6, 2012
13:43 EDTPKTProcera Networks mentioned positively at Northland Securities
Northland said Procera Networks (PKT) CEO does not see any impact from the Akamai (AKAM) and AT&T (T) agreement.
News For PKT From The Last 14 Days
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October 20, 2014
12:39 EDTPKTProcera Networks activist calls for board to evaluate strategic alternatives
Ronald Chez of Merriman Capital sent an open letter to the board of Procera Networks criticizing their lack of execution and failure to deliver on their strategy. Chez said, "I believe it is essential, and consistent with the board's fiduciary duties to Procera shareholders, that the board evaluate all strategic alternatives, including the retention of an investment bank to help guide the process. I have spoken to several shareholders and investment bankers. I intend to actively pursue further discussions with additional shareholders and interested parties. At the earliest possible convenience, I would also like to meet with the board, to discuss the immediate need to change direction." Shares of Procera are up 5.5% to $7.00 following the letter.
October 10, 2014
16:22 EDTPKTOn The Fly: Closing Wrap
Stocks on Wall Street had a bit of a see-saw trading day, but ended the session in the red once again. The Nasdaq took the brunt of the losses, falling over 2%, while the Dow's slide erased its gains for the year. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. Oil slumped to a four-year low during the session, as brent crude touched $88.11 intra-day, its lowest level since December 2010. COMPANY NEWS: The semiconductor sector was weak across the board after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. Microchip, which also pre-announced weaker than expected second quarter revenue, dropped $5.58, or 12.26%, to $39.96. Intel (INTC) fell $1.71, or 5.09%, to $31.91, Avago (AVGO) declined $9.24, or 11.46%, to $71.36, Texas Instruments (TXN) slipped $3.28, or 7.13%, to $42.74 and Micron (MU) dropped $2.71, or 8.86%, to $27.93. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied $6.48, or 35.76%, to $24.60 after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Also higher was Dave & Buster (PLAY), which gained $1.28 to $17.28 after commencing trading on the Nasdaq following its initial public offering. Among the noteworthy losers was Procera Networks (PKT), which was downgraded by at least four research firms and plunged $2.85, or 33.33%, to $5.70 after the company warned its Q3 revenue will miss expectations. Also lower were shares of Caesars (CZR), which dropped $1.92, or 17.36%, to $9.14 after disclosing in a regulatory filing that its Chief Accounting Officer resigned to accept a position with another company. INDEXES: The Dow fell 115.15, or 0.69%, to 16,544.10, the Nasdaq plunged 102.10, or 2.33%, to 4,276.24, and the S&P 500 dropped 22.08, or 1.15%, to 1,906.13.
13:08 EDTPKTOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and saw several swings throughout the morning. Near midday the averages were mixed, with the Dow a bit higher and the Nasdaq weighed down by weakness across the semiconductor sector. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. COMPANY NEWS: Shares of a number of semiconductor makers, including industry giant Intel (INTC), were sharply lower after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future. Near noon, Microchip dropped 11%, Intel fell almost 4%, Texas Instruments (TXN) slipped over 6%, Micron (MU) dropped 6% and Fairchild (FCS) declined 12%. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied 35% after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Among the noteworthy losers were a number of companies that, similarly to Microchip, warned that their quarterly results will likely miss expectations, including Procera Networks (PKT), which plunged 34%, Manitowoc (MTW), which fell 9%, and Sizmek (SZMK), which dropped 21%. INDEXES: Near midday, the Dow was up 38.02, or 0.23%, to 16,697.27, the Nasdaq was down 35.89, or 0.82%, to 4,342.45, and the S&P 500 was up 0.42, or 0.02%, to 1,928.63.
10:01 EDTPKTOn The Fly: Analyst Downgrade Summary
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09:00 EDTPKTOn The Fly: Pre-market Movers
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06:00 EDTPKTProcera Networks downgraded to Hold from Buy at Needham
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05:58 EDTPKTProcera Networks downgraded to Hold from Buy at Stifel
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05:58 EDTPKTProcera Networks downgraded to Neutral from Buy at Sterne Agee
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05:52 EDTPKTProcera Networks downgraded to Market Perform from Outperform at William Blair
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October 9, 2014
18:47 EDTPKTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Helen of Troy (HELE), up 3%... Barracuda Networks (CUDA), up marginally after reporting second quarter results. ALSO HIGHER: Sucampo Pharmaceuticals (SCMP), up 19.2% after announcing settlement agreement resolving patent litigation on AMITIZA... Civeo (CVEO), up 15% after Greenlight Capital reported a 9.99% stake in the company... EXCO Resources (XCO), up 10.6% after T. Boone Pickens says that company approached by buyers, reported by Bloomberg... EXACT Sciences (EXAS), up 3.7% after announcing final national coverage determination for Cologuard... US Ecology (ECOL), up 2.5% following announcement that it will replace Measurement Specialties (MEAS) in S&P 600. DOWN AFTER EARNINGS: Procera Networks (PKT), down 19.3%... Sizmek (SZMK), down 13.9% following third quarter revenue guidance... VOXX International (VOXX), down 12.5%... Knowles (KN), down 8.1% after lowering third quarter guidance... Microchip (MCHP), down 8.2% after lowering second quarter guidance... Juniper Networks (JNPR), down 3.6% after lowering third quarter outlook. ALSO LOWER: GT Advanced Technologies (GTAT), down 23.3% following a Bloomberg report that it will as to wind down sapphire operations.
17:36 EDTPKTProcera Networks down 21% following Q3 revenue, EPS guidance
16:09 EDTPKTProcera Networks expects FY14 revenue $70.0M-$75.0M, consensus $85.16M
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16:08 EDTPKTProcera Networks expects Q3 revenue $16.0M, consensus $22.64M
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16:00 EDTPKTProcera Networks trading halted, pending news
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