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
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.
Thu, Feb. 18, 7:05 PM
- TIVO is seen as a beneficiary of an FCC vote to push ahead with rule changes that would allow consumers to use third-party set-top boxes, rather than ones given (often for a monthly rental fee) by their pay-TV providers. The FCC will now hold a comment period for the proposed changes, and then carry out revisions and a final vote.
- In an official statement, TiVo, which generates revenue from both independent set-top/subscription sales and subscriptions delivered via pay-TV partnerships, cautiously praised the FCC decision. "Given the sunset of the integration ban and the absence of an industry-supported successor to CableCARD, the FCC's rulemaking is important to ensure choice for consumers, operators, and content creators. We are hopeful that this proceeding results in a competitive environment that increases choice, both for consumers and operators, and protects the business models that operators and device makers have created under the current CableCARD system."
- Arris (NASDAQ:ARRS), by far the biggest player in the pay-TV set-top market - the company recently acquired U.K. set-top vendor Pace, and previously bought Motorola Home from Google - arguably has the most to lose if the FCC opens up the set-top market to greater competition. Synergy Research has estimated Arris/Pace had over 30% of the 2014 video infrastructure client hardware market.
- Arris fell 12% in regular trading, after having posted mixed Q4 results and issued soft Q1 guidance yesterday afternoon. TiVo, whose FQ4 report is due on March 1, fell 1%.
Thu, Feb. 18, 12:48 PM
Wed, Feb. 17, 6:38 PM
- In addition to missing Q4 revenue estimates (while beating on EPS), Arris (NASDAQ:ARRS) is guiding for Q1 revenue of $1.56B-$1.61B and EPS of $0.37-$0.42, below a consensus of $1.68B and $0.58. The guidance accounts for the Pace acquisition, which closed on Jan. 4.
- Along with its numbers, Arris has announced a $300M buyback. It replaces prior authorizations, and is good for repurchasing 9% of shares at current levels.
- Q4 details: Order backlog stood at $715.8M as of the end of Q4 (before the Pace deal closed), up 28% Y/Y. Q4 book-to-bill was 1.14. GAAP operating expenses rose 5% to $305.8M. Arris ended 2015 with $879M in cash and over $1.5B in debt.
- ARRS -9.2% after hours to $21.70.
- Arris' Q4 results, earnings release