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Stock Market & Financial Investment News

News Breaks
July 14, 2014
10:59 EDTCTXS, NTCT, RVBD, LOGMElliot 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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August 31, 2015
11:03 EDTNTCTEricsson signs OSSii license agreements with Cisco and Tektronix
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August 28, 2015
10:02 EDTLOGMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADP (ADP) upgraded to Outperform from Market Perform at William Blair... ASML (ASML) upgraded to Buy from Hold at Berenberg... Abercrombie & Fitch (ANF) upgraded on Hollister fundamentals at RBC Capital... Akamai (AKAM) upgraded to Outperform from Market Perform at JMP Securities... Ares Capital (ARCC) upgraded to Outperform from Market Perform at Raymond James... Banco Santander (SAN) upgraded on valuation at Deutsche Bank... CIBC (CM) upgraded to Neutral from Underperform at Credit Suisse... Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank... Citi (C) upgraded to Buy from Neutral at Guggenheim... Ctrip.com (CTRP) upgraded to Buy from Hold at Stifel... El Pollo Loco (LOCO) upgraded at Stifel... Genomic Health (GHDX) upgraded to Market Perform from Underperform at Raymond James... Golar LNG (GLNG) upgraded on valuation, upcoming project completion at Stifel... Habit Restaurants (HABT) upgraded to Buy from Hold at Stifel... Helmerich & Payne (HP) upgraded to Overweight from Equal Weight at Stephens... Himax (HIMX) upgraded to Outperform from Neutral at Credit Suisse... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Guggenheim... InterContinental (IHG) upgraded to Outperform from Neutral at Credit Suisse... Knight Transportation (KNX) upgraded to Strong Buy on valuation at Raymond James... LogMeln (LOGM) upgraded to Overweight from Sector Weight at Pacific Crest... Patterson Companies (PDCO) upgraded to Overweight from Neutral at Piper Jaffray... Qunar (QUNR) upgraded on valuation, positive catalysts at Stifel... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... SVB Financial (SIVB) upgraded to Buy from Neutral at DA Davidson... Seagate (STX) upgraded to Buy from Hold at Cross Research... Sinopec (SNP) upgraded to Neutral from Sell at Citi... Summit Hotel Properties (INN) upgraded to Outperform at Baird... Texas Capital (TCBI) upgraded to Buy from Neutral at DA Davidson... The Medicines Co. (MDCO) upgraded to Buy from Hold at Jefferies... U.S. Bancorp (USB) upgraded to Buy from Neutral at Guggenheim... Weatherford (WFT) upgraded to Overweight from Equal Weight at Stephens.
07:15 EDTLOGMLogMeln upgraded to Overweight on sustainable growth at Pacific Crest
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06:56 EDTLOGMLogMeln upgraded to Overweight from Sector Weight at Pacific Crest
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