ARRIS International plcNASDAQ
Wed, Oct. 12, 12:16 PM
- Arris (ARRS +0.3%) will be a key partner in the development of Charter Communications' (CHTR +0.2%) WorldBox 2.0 platform, targeted at traditional TV sets across the Charter footprint.
- The next-gen WorldBox 2.0 is a hybrid video platform that expands on Charter's downloadable conditional access capabilities as well as adding more graphics capabilities and processing power. The platform "gives Charter the flexibility to deploy a single platform across our entire expanded network," says Charter's Jim Blackley.
- The two companies had recently entered into a warrant agreement providing for Charter to acquire Arris shares based on targeted sales of Arris equipment to Charter over the next three years.
Fri, Oct. 7, 7:25 PM
- Stock in set-top box maker Arris (ARRS +6.8%) jumped today after it detailed a warrant agreement with Charter Communications (NASDAQ:CHTR), now the second-largest cable company in the U.S., and analysts came in with bullish takes.
- The agreement gives Charter a warrant to buy up to 6M shares of Arris stock at a strike price of $28.54 (vs. today's close of $29.65) after Charter buys a certain amount of products from Arris.
- Needham reiterated a Buy rating and price target of $32. "While it's difficult to precisely quantify the impact of the Charter agreement, we are qualitatively encouraged by Charter's willingness to sign an agreement that incentivizes it [to] purchase an increasing amount of product from ARRS in two consecutive years," writes analyst Richard Valera.
- Arris had entered a similar arrangement with top cable company Comcast this summer.
Fri, Oct. 7, 3:04 PM
Fri, Sep. 9, 9:43 AM
- With attention in the U.S. set-top box market focused on proposed new FCC rules opening the market, Arris (ARRS -0.1%) is pointing to a global coup, partnering with Telefonica (TEF -0.6%) on a new range of next-gen set-tops worldwide.
- The "Proteus" portfolio will begin rolling out in 2017 for Telefonica's satellite DTH, cable and IPTV services, supporting wired and wireless, and HD and ultra HD.
- The two are building on past partnerships in Brazil and Spain. Telefonica's choice of Arris "represents the progression of a successful partnership that will bring next-generation services to millions of subscribers across Europe and Latin America," says Arris' Steve McCaffery.
- Meanwhile, Arris says Portugal Telecom (OTCPK:ATCEY) has chosen an Arris ultra HD set-top for its recently launched MEO 4K service in Portugal. The wireless box gives subscribers access to MEO's 4K viewing using Wi-Fi and featuring time-shift/DVR capabilities.
Tue, Aug. 23, 4:41 PM
- After looking throughout 2016, Arris (ARRS +0.7%) has set its top leadership, naming Bruce McClelland its new chief executive, effective Sept. 1.
- He'll replace Bob Stanzione, who will remain chairman of the board and add the title of executive chairman.
- McClelland also joins the board along with his appointment.
- McClelland had joined the Arris Interactive joint venture 17 years ago as VP of engineering, following 11 years with Nortel Networks/Bell Northern Research.
Wed, Jul. 27, 5:39 PM
Wed, Jul. 27, 4:54 PM
- Arris International (ARRS -2.4%) is up 8.8% after hours after beating on top and bottom lines in its Q2 earnings report and boosting guidance.
- Comps were affected by the January acquisition of Pace plc, an integration that is mostly complete, Arris says.
- Order backlog was $1.239B, up from a year-ago $651.3M but down sequentially from $1.335B. Book-to-bill ratio was 0.94, flat Y/Y.
- It's now guiding to Q3 revenues of $1.7B-$1.75B (in line) and adjusted EPS of $0.72-$0.77 (vs. consensus for $0.73). For the full year, it expects revenues to be at the high end of guidance while net income is trending above guidance (consensus expectations are for EPS of $2.60 on revenues of $6.76B).
- Cash and equivalents came to $902.9M.
- Conference call to come at 5 p.m. ET.
- Press release
Wed, Jul. 27, 4:47 PM
Tue, Jul. 26, 5:35 PM
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Mon, Jul. 25, 10:59 AM
- Arris (ARRS +0.2%) has its channel program offering support and sales in every major market after an expansion into the U.S. and Canada.
- That will ease provision of a broader set of of offerings to a bigger client base. The program has centralized online resources through single sign-on and added new tools and resources, the company says.
- The expanded program has sales tools, training, incentives and joint marketing programs set to allow value-added resellers to design solutions for cable operators, telecom operators, ISPs, broadcasters, and enterprises, Arris says.
Thu, Jun. 30, 2:29 PM
- Arris (ARRS +1.1%) has sold its Media Analysis Framework unit to digital ad platform Watchwith.
- That move comes a day after Arris unloaded its Whole Home Solution to Canada's Espial (OTC:ESPAF). In that deal, Espial took over management of Arris' WHS server provider customers with Arris continuing to provide media gateways and media players.
- Watchwith's deal adds Arris' machine learning and automated metadata collection to its capabilities. The technology analyzes, tags and describes video to reduce manual tagging needs (and therefore expenses). Watchwith will integrated it into its data-driven advanced ad products.
- Like the move with WHS, the Media Analysis Framework deal involves a transfer of engineers from Arris, and Watchwith will set up an R&D office in Chicago.
Thu, May 5, 9:12 AM
- Gainers: SYNC +143%. LGCY +31%. AAWW +27%. EPE +21%. FCEL +19%. WTW +15%. DNR +14%. ZNGA +14%. CHK +13%. BCEI +12%. UNXL +12%. ARRS +10%. CRC +10%. CLMT +9%. ORIG +9%. QRVO +8%. GSV +8%. HMY +8%. VNR +7%. MEET +7%. SDRL 7%. CLR 6%. SGYP 6%. OAS 5%. REGN 5%. BABA 5%. AUY 5%.
- Losers: PTX -37%. FRSH -27%. SQNM -19%. FIT -13%. EBIO -11%. LB -10%. WFT -9%. SEAS -8%. ABC -8%. CTL -5%.
Wed, May 4, 4:59 PM
- Arris Group (NASDAQ:ARRS): Q1 EPS of $0.47 beats by $0.07.
- Revenue of $1.61B (+32.0% Y/Y) beats by $30M.
Tue, May 3, 5:35 PM
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Mon, Mar. 14, 12:57 PM
- Believing risk/reward is balanced following the Pace acquisition and news of AT&T's plans to launch a Web-based DirecTV service (court hurt Arris' set-top sales), Goldman's Doug Clark has downgraded Arris (ARRS -5%) to Neutral, and cut his target by $8 to $26.
- Clark also thinks pay-TV industry consolidation could "create lumpiness" within Arris' results. His downgrades arrives a month after Arris fell sharply in the wake of mixed Q4 results and light Q1 guidance, and three weeks after the company announced it's cutting 10% of its workforce.
- Shares are a little over $2 above a 52-week low of $20.27 (set the day after the Q4 report).
Mon, Feb. 22, 1:58 PM
- With a $2.1B acquisition of Pace in the rear-view, Arris (ARRS +3.1%) has confirmed it will cut about 800 employees -- about 10% of its worldwide workforce.
- It's looking companywide to "identify areas where we can find cost savings, eliminate redundancies, and increase shareholder value,” Arris said.
- The reduction is touching areas including Arris' operations in Horsham, Pa., and Suwanee, Ga., along with former Pace and 2Wire locations, Multichannel News reports.
- The company had reduced workforce by nearly 500 employees, to about 6,500 total, after its April 2014 acquisition of Motorola Home.