Elliott Management obtains Juniper stake, shares +5.5% premarket

Activist investor Elliott Management has obtained a 6.2% stake in Juniper (JNPR), and is pushing for dividends, new buybacks, and cost cuts. The firm asserts such actions can lead Juniper's shares to rise to the $35-$40 range. (13D)

The disclosure comes shortly after Elliott made an offer to buy another networking hardware name, Riverbed (RVBD). Riverbed and Juniper have largely complementary product lines; might Elliott push for a merger between the companies? RVBD +0.9% premarket.

Less than two weeks ago, Cantor cited the potential for "shareholder-enhancing activities" as a reason for declaring Juniper a top 2014 pick. The company has $3B in net cash/investments, and currently doesn't pay a dividend.

Juniper rallied on Friday after an unknown trader made a $59.3M options bet.

From other sites
Comments (1)
  • Nettligent
    , contributor
    Comments (1346) | Send Message
    Another Pump & Dump stocks on the move.
    13 Jan 2014, 12:59 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs