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Stock Market & Financial Investment News

News Breaks
July 14, 2014
10:59 EDTRVBD, CTXS, LOGM, NTCTElliot 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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October 17, 2014
10:00 EDTNTCTOn The Fly: Analyst Downgrade Summary
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07:20 EDTNTCTNetScout downgraded to Equal Weight from Overweight at Stephens
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October 16, 2014
14:15 EDTCTXS01 Communique confirms favorable appeals ruling in patent suit with Citrix
01 Communique announced that the U.S. Court of Appeals for the Federal Circuit has issued a Rule 36 Judgment affirming the U.S. Patent and Trademark Office, Patent Trial and Appeal Board's decision that the company's "479 Patent" that is at the center of its patent infringement lawsuit against Citrix Systems is valid. Andrew Cheung, President and CEO for 01 Communique, said, "This is a positive step forward in our lawsuit against Citrix. We remain confident in the merits of our case and have a tight schedule ahead of us as we prepare for the upcoming claim construction and tutorial scheduled for November 12 and 13 and completion of expert discovery shortly thereafter on January 16, 2015 following which we anticipate heading to trial."
11:25 EDTCTXS01 Communique patent win in suit with Citrix upheld on appeal
The U.S. Court of Appeals for the Federal Circuit affirmed the Patent and Trademark Office ruling that was appealed by Citrix, according to a decision posted to the court's website.
07:32 EDTNTCTNetScout reiterates FY15 adjusted EPS view $1.74-$1.81, cosnensus $1.79
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07:31 EDTNTCTNetScout reports Q2 adjusted EPS 40c, consensus 34c
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October 14, 2014
10:01 EDTNTCTOn The Fly: Analyst Downgrade Summary
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10:01 EDTNTCTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
08:12 EDTNTCTNetScout upgraded at DA Davidson
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08:03 EDTNTCTNetScout upgraded to Buy from Neutral at DA Davidson
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08:00 EDTNTCTNetScout downgraded to Sell from Hold at Noble Financial
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06:20 EDTNTCTNetScout downgraded to Hold from Buy at Wunderlich
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October 13, 2014
10:12 EDTNTCTNetScout turns negative on the session, levels to watch
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09:49 EDTNTCTNetScout expects synergies to be achieved as both businesses are combined
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07:31 EDTNTCTNetScout to host conference call
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07:12 EDTRVBDRiverbed news already priced into stock, says JMP Securities
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06:49 EDTNTCTDanaher to merge communications business with NetScout for $41.91 per share
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06:48 EDTNTCTNetScout Systems to acquire Danaher's Communications business for $2.6B
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06:47 EDTNTCTDanaher to merge communications business with NetScout for $41.91 per share
October 10, 2014
09:06 EDTRVBDF5 Networks checks indicate return to stable growth, says Janney Capital
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