New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 18, 2014
16:02 EDTRVBDRiverbed names Paul Mountford as Chief Sales Officer
Riverbed Technology announced that Paul Mountford has joined the company as senior vice president and Chief Sales Officer. He was most recently CEO of Sentillian, a New York-based web intelligence startup.
News For RVBD From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 13, 2014
07:12 EDTRVBDRiverbed news already priced into stock, says JMP Securities
Subscribe for More Information
October 10, 2014
09:06 EDTRVBDF5 Networks checks indicate return to stable growth, says Janney Capital
Subscribe for More Information
October 9, 2014
12:07 EDTRVBDRiverbed downgraded to Neutral from Buy at Citigroup
Citigroup downgraded Riverbed to Neutral citing the Q3 top-line shortfall.
10:44 EDTRVBDRiverbed miss increases likelihood of Elliot deal, says Wells Fargo
Subscribe for More Information
10:19 EDTRVBDFollow-up: Riverbed downgraded at William Blair
As previously reported, William Blair downgraded Riverbed to Market Perform from Outperform. The firm downgraded shares citing disappointing preliminary Q3 results, survey feedback that indicates lack of excitement around Riverbed's non-WAN optimization portfolio of products, and neutral risk/reward.
10:11 EDTRVBDRiverbed downgraded to Market Perform from Outperform at William Blair
Subscribe for More Information
09:43 EDTRVBDElliott 'commends' Riverbed board for initiating strategic review
Elliott Management Corporation commented on Riverbed Technology’s announcement of preliminary earnings and other actions: “We commend the Board for initiating a strategic review and believe that Riverbed is a great company with products customers value,” said Jesse Cohn, portfolio manager at Elliott Management. “We have made a $21 bid for the company, and our team and advisors look forward to completing our confirmatory diligence in an expedited fashion.”
08:32 EDTRVBDRiverbed to undertake comprehensive review of stratetgic, financial alternatives
08:32 EDTRVBDRiverbed initiates restructuring plan to reduce annual costs by $20M-$25M
The company announced that it has initiated a restructuring plan in order to reduce annual costs by $20 million to $25 million and improve annual operating margins by 1% to 2%. The company expects these restructuring efforts to be substantially complete by the end of calendar 2014. “In light of current business conditions, we are taking decisive steps to improve our cost structure in order to drive enhanced operating performance,” said Jerry M. Kennelly, chairman and CEO, Riverbed. “We believe these actions enable us to deliver increased value to our shareholders while continuing to deliver the products and support expected by our customers.” In addition to these restructuring initiatives, Riverbed's Board of Directors has determined to undertake a comprehensive review, with the assistance of its advisors, of strategic and financial alternatives to enhance shareholder value. There is no set timetable for the review process. The company does not intend to disclose or comment on further developments unless and until its Board approves a specific action or it otherwise concludes its review of alternatives.
08:31 EDTRVBDRiverbed narrows Q3 adjusted EPS view to 30c-31c from 30c-32c
Consensus is 31c. Cuts Q3 revenue view to $276M-$277M from $285M-$291M, consensus $286.75M. The revised guidance primarily reflects lower than expected growth in the company’s WAN Optimization and virtual ADC businesses.
October 6, 2014
08:31 EDTRVBDElliott Management reaffirms $21 per share offer for Riverbed
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use