Fusion-io, Inc.
 (FIO)

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FIO is defunct.
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  • Sep. 11, 2013, 12:10 PM
    • After taking a breather yesterday (in spite of a Piper upgrade), Fusion-io (FIO +15.4%) is flying higher once again thanks to M&A hopes. Pac Crest argues recent deals - Seagate/Virident and Cisco/Whiptail - imply a buyout price of $22-$27/share.
    • Shares +40% from Friday's close. With 31.6% of the float shorted as of Aug. 15, it's a safe bet short-covering has much to do with this week's rally.
    • Previous: I, II
    | Sep. 11, 2013, 12:10 PM | 1 Comment
  • Sep. 10, 2013, 9:32 AM
    • Palo Alto Networks (PANW +4.7%) has been upgraded to Market Perform by Oppenheimer following its FQ4 results and solid FQ1 guidance.
    • Fusion-io (FIO +4%) has been upgraded by Piper, as M&A speculation (I, II) continues to swirl in the wake of Western Digital/Virident.
    • Jabil (JBL +2.6%) has been upgraded to Strong Buy by Needham.
    • Calix (CALX -2.9%) has been cut to Sell by Goldman.
    • Analogic (ALOG +1.5%) has been started at Buy by Benchmark.
    • Konami (KNM +4.1%) has been started at Underperform by Jefferies.
    | Sep. 10, 2013, 9:32 AM
  • Sep. 10, 2013, 8:31 AM
    • Cisco (CSCO) intends to acquire privately held Whiptail, a provider of solid-state memory systems, for $415M.
    • Whiptail's technology enables organizations "to simplify data center and virtualized environments, and process more data in less time," Cisco said. "Whiptal will strengthen Cisco's Unified Computing System strategy and enhance application performance."
    • Cisco's acquisition follows Western Digital's announcement yesterday that it's buying Virident Systems for $685M in a deal that extends Western Digital's presence in the market for server-based flash storage. The deal sent shares of Fusion-io (FIO) soaring 26% yesterday on hopes that it may be bought and they're now +4.7%. (PR)
    | Sep. 10, 2013, 8:31 AM
  • Sep. 9, 2013, 5:33 PM
    • Craig-Hallum and FBN have upgraded Fusion-io (FIO +25.9%) in the wake of Western Digital's $685M deal to acquire Fusion-io rival Virident, arguing the odds the server flash module vendor will receive a buyout offer have risen.
    • Like others, Craig-Hallum's Rajesh Ghai views Seagate (STX +1.8%), which is about to see its reseller deal with Virident unravel as the startup becomes a division of its biggest rival, is viewed as the most likely candidate to make a bid. However, he also names Samsung and Micron as potential suitors.
    • FBN's Shelby Seyrafi: "WDC is paying $645 million [net of cash] for a PCIe SSD company with little revenue, while FIO had an enterprise value on Friday of $1.2 billion and had $432 million in revenue last year."
    • Lazard's Edward Parker, who has been bullish on FIO for some time, says checks point to "substantial hyperscale design win activity in 2014, with Fusion-io and Virident both at the top of a short list of participants."
    • Fusion-io's top two hyperscale customers, Apple and Facebook, have been paring their orders, something that definitely hasn't gone unnoticed by investors.  But the company has also boasted of orders from other big tech/Internet names, such as Pandora, Salesforce, LinkedIn, and Alibaba.
    • 31.6% of the float was shorted as of Aug. 15.
    • Previous: Fusion-io soars in response to WDC's purchase of Virident
    | Sep. 9, 2013, 5:33 PM
  • Sep. 9, 2013, 12:46 PM
    | Sep. 9, 2013, 12:46 PM
  • Sep. 9, 2013, 10:26 AM
    • Virident, like Fusion-io (FIO +11.3%), offers PCI-Express-based server flash memory modules meant for performance-intensive applications. And beaten-down Fusion-io has been the subject of plenty of M&A speculation over the last two years.
    • Virident asserts its FlashMAX II PCI-Express modules offer 2x the performance of rival solutions.The company also provides FlashMAX Connect, an innovative software solution for allowing FlashMAX II modules to be clustered, to mirror/replicate content, and to act as caches for 3rd-party storage.
    • Western Digital (WDC -0.5%) should be able to greatly expand Virident's distribution. The purchase comes less than 3 months after WDC announced it's buying enterprise SSD vendor sTec for $207M.
    • In addition to Fusion-io, Virident competes against EMC, which offers its XtremSF flash modules and other flash storage products, and private flash storage system vendors such as Nimble Storage and Violin Memory.
    • Interestingly, Western Digital archrival Seagate (STX -0.8%) recently invested $40M in Virident and struck a reseller deal with the company. Though Seagate is probably getting a good return on its investment, it can't be happy to see Virident fall into WDC's arms. Will it counter by making a play for Fusion-io?
    • Previous: Western Digital buying Virident for $685M
    | Sep. 9, 2013, 10:26 AM
  • Aug. 8, 2013, 2:50 PM
    • Fusion-io (FIO -24.2%) has plunged to new post-IPO lows due to its light FQ1/FY14 guidance. Analysts generally argue a turnaround won't come quickly.
    • Benchmark (Hold): "We now believe FIO is required to significantly lower pricing for ioScale in order to attract hyperscale customers large enough to backfill maturing Apple/Facebook business." Fusion-io launched ioScale in January as a low-cost/high-density alternative to its mainstay ioDrive modules.
    • Benchmark is also worried about slumping margins, something it attributes to changing mix and rising NAND flash prices.
    • Benchmark and Stifel (downgrading to Hold) both raise questions about OEM channel conflict and competition. The former thinks LSI might be taking some of Fusion-io's Facebook sales. Raymond James uses the occasion to argue LSI is well-position to become the #2 player in the enterprise server flash module space.
    • Lazard is (kind of) among the defenders. "We don't see enough evidence that competition is marginalizing FIO ... We see revenue lumpiness and some executive missteps."
    • On the CC, management asserted order from newer Web/cloud customers (a group that includes Pandora, Alibaba, and Salesforce) will help spark a rebound. LinkedIn and a U.K. financial services firm were named as clients picked up in FQ4.
    | Aug. 8, 2013, 2:50 PM | 1 Comment
  • Aug. 8, 2013, 12:49 PM
    | Aug. 8, 2013, 12:49 PM
  • Aug. 8, 2013, 9:44 AM
    • Microsoft (MSFT +0.4%) has been upgraded to Overweight by Evercore.
    • Groupon (GRPN +24.8%) had been upgraded to Neutral by UBS, and to Market Perform by Raymond James, following its Q2 revenue beat (I, II), buyback news, and CEO announcement.
    • Sina (SINA +2.3%) has been upgraded to Buy by Maxim ahead of its Aug. 12 Q2 report.
    • Fusion-io (FIO -22.8%) has been cut to a neutral rating by BofA, Mizuho, Monness Crespi, and Benchmark due to the light guidance provided with its mixed FQ4 results.
    • Quad/Graphics (QUAD +3.5%) has been upgraded to Sector Perform by RBC following yesterday's Q2 report.
    | Aug. 8, 2013, 9:44 AM
  • Aug. 8, 2013, 9:17 AM
    | Aug. 8, 2013, 9:17 AM
  • Aug. 7, 2013, 5:45 PM
    | Aug. 7, 2013, 5:45 PM | 1 Comment
  • Aug. 7, 2013, 4:23 PM
    • Fusion-io (FIO) expects FQ1 revenue of $80M-$90M, well below a $123.8M consensus.
    • FY14 guidance is for 20% revenue growth, below a consensus for 30% growth. FY14 gross margin guidance is set at 52%-54%, below the company's FY13 GM of 60.1%.
    • No explanation is given for the shortfalls. Soft sales to Apple/Facebook have been blamed for light guidance in the past.
    • FQ4 results, PR
    | Aug. 7, 2013, 4:23 PM
  • Aug. 7, 2013, 4:07 PM
    • Fusion-io (FIO): FQ4 EPS of -$0.03 beats by $0.01.
    • Revenue of $106.1M misses by $4.1M. Shares -9.3% AH. (PR)
    | Aug. 7, 2013, 4:07 PM | 3 Comments
  • Aug. 7, 2013, 12:10 AM
  • Aug. 6, 2013, 5:35 PM
  • Jul. 10, 2013, 5:30 PM
    After-hours top gainers, as of 5:15 p.m.: PSLV +12%. VOXX +5%. APOL +4%. FIO +4%. VGM +3%.
    After-hours top losers: MACK -10%. EGAS -5%. RMTI -5%. SSYS -4%. PSMT -4%.
    | Jul. 10, 2013, 5:30 PM | 3 Comments
Company Description
Fusion-io Inc is a provider of data-centric computing solutions - a combination of hardware and software that places data closer to processing, resulting in dramatic improvements in both performance and efficiency.
Sector: Technology
Country: United States