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News Breaks
February 28, 2013
09:41 EDTRKUSRuckus Wireless mentioned positively at OTR Global
News For RKUS;RKUS From The Last 14 Days
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September 16, 2014
08:14 EDTRKUSRuckus Wireless shares should be bought on weakness, says Oppenheimer
After meeting with Ruckus' management, Oppenheimer believes that the company's favorable Q2 market conditions have carried into the current quarter. The firm thinks the company has a number of potential positive longer term catalysts and keeps an Outperform rating on the shares.
September 12, 2014
12:51 EDTRKUSOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The day’s economic data, including retail sales figures, a report on import prices, and business inventories data, were generally in line with expectations. The economic bright spot was the University of Michigan consumer confidence report which came in higher than expected. The market is on the verge of ending the week lower, which would be its first weekly loss in the last seven. ECONOMIC EVENTS: In the U.S., sales at retailers climbed 0.6% in August, matching expectations but also representing the fastest pace in four months. Retail sales growth for July was also revised upward to 0.3% from a prior estimate of having been flat. Import prices dropped 0.9% in August, while export prices slipped 0.5%. The University of Michigan preliminary consumer sentiment reading for for September rose to 84.6, beating expectations for it to be up more modestly to 83.3. Business inventories grew 0.4% in July, as expected. COMPANY NEWS: Shares of eBay (EBAY) were up more than 2% near noon after rumors circulated that Google (GOOG) may look to take a stake in the company. However, an eBay spokesperson denied the speculation, telling Reuters that the company has held "no conversations" with Google about acquiring a stake. MAJOR MOVERS: Among the notable gainers was digital marketing services company Conversant (CNVR), which soared 30% after Alliance Data Systems (ADS) agreed to acquire it for about $2.3B in cash and stock. Following last night's announcement of the deal, some Conversant peers rose as well, as Criteo (CRTO) gained almost 5% and TubeMogul (TUBE) rose 1%, while Alliance Data gained over 2%. Among the noteworthy losers was Amarin (AMRN), which dropped 22% after an office within the FDA denied the company's appeal of FDA's rescission of the ANCHOR clinical trial Special Protocol Assessment agreement. Also lower were shares of Ruckus Wireless (RKUS), which fell 5% after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. INDEXES: Near midday, the Dow was down 66.43, or 0.39%, to 16,982.57, the Nasdaq was down 19.83, or 0.43%, to 4,571.97, and the S&P 500 was down 10.28, or 0.51%, to 1,987.17.
11:21 EDTRKUSRuckus Wireless sinks after analysts issue downbeat notes
Shares of Ruckus Wireless (RKUS), which provides products that enable Wi-Fi connections, are falling after one analyst downgraded the shares and another initiated coverage of the stock with an Underweight rating. WHAT'S NEW: Buckingham analyst Rohit Chopra downgraded Ruckus to Neutral from Buy this morning. Noting that the stock has surged 38% since June, Chopra believes that there are no significant unknown catalysts that are likely to increase Ruckus' multiple or cause its results to exceed expectations within the next year. Investors should take profits in the stock at current levels, wrote Chopra, who raised his price target on the shares to $16 from $15. Morgan Stanley analyst James Faucette initiated coverage of the stock with an Underweight rating last night. Ruckus has gained a significant share of the WiFi market due to its radio frequency technology which provides connectivity in difficult environments, Faucette stated. Ruckus' technology continues to be differentiated from its competitors' solutions, but its customers tend to have little need for advanced security or network management capabilities, the analyst believes. Consequently, they are unlikely to increase their investments in WiFi as much as the average WiFi provider, Faucette contended. Analysts' consensus estimates for the company's revenue growth in 2014-2016 are slightly too high, according to Faucette, who set a $13 price target on the shares. PRICE ACTION: In late morning trading, Ruckus dropped 5.4% to $14.31.
10:00 EDTRKUSOn The Fly: Analyst Initiation Summary
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10:00 EDTRKUSOn The Fly: Analyst Downgrade Summary
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09:14 EDTRKUSOn The Fly: Pre-market Movers
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08:55 EDTRKUSRuckus Wireless downgraded to Neutral from Buy at Buckingham
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07:12 EDTRKUSRuckus Wireless downgraded to Neutral from Buy at Buckingham
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September 11, 2014
18:06 EDTRKUSRuckus Wireless initiated with an Underweight at Morgan Stanley
Target $13.

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