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Stock Market & Financial Investment News

News Breaks
March 13, 2013
08:43 EDTRVBD, CSCOCisco renewed efforts to compete with Riverbed, says Wunderlich
Wunderlich believes Cisco (CSCO) renewed its efforts to compete with the core business of Riverbed (RVBD) when it announced a wide area network optimization as a module on the integrated services router product. The firm points out that the Cisco announcement specifies pricing at 35% below the current market level. Wunderlich lowered its price target for Riverbed shares to $19 from $23, but keeps a Buy rating on the stock.
News For RVBD;CSCO From The Last 14 Days
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October 28, 2014
07:27 EDTRVBDWilliam Blair 'puzzled' over NetApp acquisition
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October 27, 2014
16:03 EDTRVBDNetApp buys Riverbed's SteelStore product line for $80M
NetApp (NTAP) announced the acquisition of Riverbed Technology's (RVBD) SteelStore product line in an all-cash transaction for approximately $80M. he SteelStore product supports leading backup applications and cloud providers so that customers have a choice in how they extend their existing data protection infrastructure into the cloud. NetApp will offer enterprises cloud-integrated storage to securely and efficiently back up their data to both private and public cloud environments. NetApp expects that the SteelStore product will be available during its fiscal third quarter of 2015.
07:38 EDTCSCOCyber security start-ups hot with investors, including banks, FT says
Corporate venture arms have more than doubled their investment in cyber security start-ups over the last two years, according to Financial Times, citing data from CB Insights. While technology companies such as Google (GOOG), Intel (INTC) and Cisco (CSCO) are leading, the report notes that the venture capital units of Citibank (C), Wells Fargo (WFC) and General Electric (GE) have also been active investors in security start-ups. Reference Link
07:30 EDTCSCOInternational Economic Forum of the Americas to hold a forum
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October 24, 2014
11:25 EDTCSCOJuniper falls after Q4 profit outlook trails consensus
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10:04 EDTRVBDRiverbed CEO seems much more willing to consider sale, says MKM Partners
After Riverbed's Q4 guidance missed expectations, MKM Partners said its talks with Chairman and CEO Jerry Kennelly made it seem that he is "much more willing" now to consider strategic options. MKM believes Riverbed is worth more as a private company and foresees its strategic review most likely leading to a sale to a pe firm, possibly in the $20-$24 range. The firm maintains its Neutral rating and $21 price target on Riverbed.
October 23, 2014
16:56 EDTRVBDRiverbed sees Q4 EPS 31c-33c, consensus 35c
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16:17 EDTRVBDRiverbed sees Q4 EPS 31c-33c, consensus 35c
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16:16 EDTRVBDRiverbed reports Q3 EPS 30c, consensus 30c
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15:30 EDTRVBDNotable companies reporting after market close
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October 22, 2014
13:14 EDTRVBDRiverbed up 3% after dealReporter says contacting buyers next week
Shares of Riverbed moved higher after dealReporter said the company is expected to start a sale process and contact potential buyers next week, according to its sources.
11:25 EDTCSCOCisco sale of VCE stake to have limited impact, says Wells Fargo
Wells Fargo thinks Cisco's (CSCO) decision to sell a portion of its stake in VCE is unlikely to have a material near-to-intermediate-term impact on the company's top line since it will continue to sell its networking and compute solutions to the joint venture. Wells says Cisco's "budding" partnerships with NetApp (NTAP), Microsoft (MSFT) and Citrix (CTXS) should more than offset any potential impacts from lessening ties to EMC (EMC) and VMware (VMW).
08:18 EDTCSCOVCE to become an EMC company
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October 21, 2014
20:00 EDTCSCOEMC said to buy out most of Cisco VCE joint venture stake, Bloomberg reports
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14:34 EDTCSCOEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.

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