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Stock Market & Financial Investment News

News Breaks
July 14, 2014
10:59 EDTNTCT, RVBD, LOGM, CTXSElliot reaffirms $21 Riverbed bid following Q2 warning
Shares of information technology solution developer Riverbed (RVBD) are falling after the company cut its second quarter adjusted EPS and revenue outlook. Afterward, investor Elliot Management announced that it is reaffirming its $21 per share bid for the company. WHAT'S NEW: Riverbed announced this morning that it now sees Q2 adjusted EPS to be at low end of a 26c-28c range, which is in line with analysts' consensus forecast of 27c. The company lowered its Q2 adjusted revenue view to $264M-$265M from $274M-$280M, below analysts' consensus of $277.4M. The company said Q2 sales were below its expectations, principally in North America, as it experienced longer sales cycles on some of its larger and more complex deals. Following the company's announcement, activist investor Elliot Management, one of Riverbedís largest shareholders, said Riverbed's "poor performance this quarter reveals its decision to stonewall prospective buyers to be a serious and costly mistake." Elliot urged the board to "immediately" retain an advisor and announce a review of strategic alternatives, including a sale. Elliot also reaffirmed its previously announced cash bid of $21 per share to buy the company. ANALYST OPINION: Research firm Wells Fargo said after the profit warning that it thinks there are still fundamental reasons to be cautious about Riverbed. However, the firm also believes the company's Q2 miss strengthens Elliot's position that its $21 offer represents fair value and the activist investor's involvement limits downside risk in the stock. The firm keeps its Market Perform rating and $19-21 price target range on Riverbed. OTHERS TO WATCH: Other cloud infrastructure companies include Citrix Systems (CTXS), LogMeIn (LOGM), and NetScout Systems (NTCT). PRICE ACTION: During morning trading, shares of Riverbed were down $1.19, or 5.85%, to $19.16.
News For RVBD;CTXS;LOGM;NTCT From The Last 14 Days
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July 29, 2015
08:23 EDTCTXSCitrix upgraded to Outperform at Baird
As reported previously, Baird upgraded Citrix to Outperform from Neutral citing its agreement to work with activist investor Elliott Management. Baird raised its price target to $80 from $75 on Citrix shares.
06:29 EDTCTXSCitrix upgraded to Outperform from Neutral at Baird
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July 28, 2015
17:40 EDTCTXSElliott Associates raises Citrix stake to 7.5% from 7.1%
Elliott Associates has entered into a cooperation agreement with Citrix. Citrix agreed, among other things, that Asiff Hirji shall resign from the Citrix board and the board shall take such actions as are necessary to appoint Jesse Cohn as a new member of the board to fill the vacancy so created.
17:27 EDTCTXSCitrix in active talks regarding sale of ByteMobile business
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17:26 EDTCTXSCitrix initiates strategic review for GoTo family of products
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17:23 EDTCTXSCitrix forms operation committee to support operational review
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17:19 EDTCTXSCitrix up 3.4% after reporting results, cooperation pact with Elliott
17:06 EDTCTXSCitrix raises FY15 EPS view to $3.65-$3.75 from $3.55-$3.60, consensus $3.56
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16:17 EDTCTXSCitrix CEO Mark Templeton announces plans to retire
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16:15 EDTCTXSCitrix announces cooperation agreement with Elliott Management
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16:13 EDTCTXSCitrix sees FY15 EPS $3.65-$3.75, consensus $3.56
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16:12 EDTCTXSCitrix sees Q3 EPS 83c-85c, consensus 89c
Sees Q3 revenue $780M-$790M, consensus $790.93M.
16:11 EDTCTXSCitrix reports Q2 EPS $1.00, consensus 82c
Reports Q2 revenue $797M, consensus $790.37M.
15:21 EDTCTXSNotable companies reporting after market close
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July 24, 2015
07:43 EDTLOGMLogMeln price target raised to $84 from $72 at RBC Capital
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July 23, 2015
19:06 EDTLOGMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Amazon (AMZN), up 17.2%... Marketo (MKTO), up 15.4%... Juniper Networks (JNPR), up 9.9%... NetGear (NTGR), up 9.2%... Qlik Technologies (QLIK), up 9.1%... LogMeIn (LOGM), up 9.9%... Pandora (P), up 10.3%... Mitek Systems (MITK), up 7.8%... Proofpoint (PFPT), up 5.1%... Supreme Industries (STS), up 4.7%... Skyworks (SWKS), up 3.6%... IGI Laboratories (IG), up 3.7%... Maxim Integrated Products (MXIM), up 4.1%... Boyd Gaming (BYD), up 4.1%... Trinity Industries (TRN), up 5%... Trinity Industries (N), up 3.2%... Starbucks (SBUX), up 4.5%. ALSO HIGHER: Qorvo (QRVO), up 2.7% after Skyworks reported quarterly results. DOWN AFTER EARNINGS: TrueCar (TRUE), down 33.1% after reporting quarterly results and cutting fiscal 2015 revenue guidance... Tripadvisor (TRIP), down 9.2%... Align Technology (ALGN), down 7.4%... Capital One (COF), down 4.9%... PMC-Sierra (PMCS), down 9.1%... athenahealth (ATHN), down 2.1%. ALSO LOWER: Sunesis Pharmaceuticals (SNSS), down 59.7% after giving vosaroxin regulatory update... Avalanche Biotechnologies (AAVL), down 5.6% after CEO Thomas Chalberg, Jr., Ph.D. resigns and Hans Hull name interim CEO.
16:42 EDTLOGMLogMeln sees FY15 adjusted EPS $1.51-$1.57, consensus $1.40
Sees FY15 revenue $265M-$266.5M, consensus $263.85M. Sees adjusted EBITDA $63M-$65M.
16:40 EDTLOGMLogMeln sees Q3 revenue $68.8M-$69.3M, consensus $67.73M
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16:40 EDTLOGMLogMeln sees Q3 adjusted EPS 43c-44c, consensus 36c
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16:38 EDTLOGMLogMeln reports Q2 adjusted EPS 35c, consensus 33c
Reports Q2 revenue $64.83M, consensus $64.01M.
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