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Moda Center Web Experience for Trail Blazers Fans Explodes with New Mobile App and Enhanced WiFi ServiceBusiness Wire (Oct 31, 2013)
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Stony Brook University Manages Massive Increase in Mobile Devices with Aruba 802.11ac Wi-Fi InfrastructureBusiness Wire (Oct 15, 2013)
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We securely deliver the enterprise network to users, wherever they work or roam using a combination of solutions. Our adaptive 802.11n Wi-Fi networks optimize themselves to ensure that users are always within reach of mission-critical information. By rightsizing expensive wired local area... More
Wednesday, Nov 275:28 PMStifel's Ruckus launch: Firm sees carrier Wi-Fi "inflection point" arriving
Wednesday, Nov 275:28 PM| Comment!
- Stifel's Sanjiv Wadhwani, who started coverage on Ruckus (RKUS +4.7%) with a Buy and $17 PT today, notes that while U.S. mobile data traffic is expected to rise 53x-153x from 2010-2020 (growth will likely be stronger in some foreign markets), cellular network capacity is only expected to grow 25x. That leads him to think carrier Wi-Fi deployments will see an "inflection point" in 12-18 months.
- Much like William Blair and Piper analysts, Wadhwani sees the arrival of the Hotspot 2.0 standard (allows mobile uses to be automatically logged into carrier Wi-Fi networks) acting as a growth driver.
- He also sees healthy enterprise Wi-Fi growth, thanks in part to the adoption of the new 802.11ac standard (enables transmission speeds of up to 1Gbps), and calls Ruckus' BeamFlex tech "highly differentiated" due to its ability to limit signal interference in noisy environments.
- A number of Wadhwani's arguments for Ruckus are also applicable to rival Aruba (ARUN +1%), which surged last week after posting an FQ1 beat and in-line FQ2 guidance.
Thursday, Nov 215:46 PM
Thursday, Nov 215:40 PMAruba +8.1% AH after issuing solid guidance; Ruckus also up
Thursday, Nov 215:40 PM| Comment!
- Aruba (ARUN) has guided on its FQ1 CC for FQ2 revenue of $165M-$169M and EPS of $0.16-$0.17. That's only in-line with a consensus of $166.1M and $0.16, but is music to the ears of investors nervous following Cisco's numbers and cautious analyst commentary.
- Enterprise/carrier Wi-Fi rival Ruckus (RKUS), which has a habit of moving in the same direction as Aruba, is up 2.3% AH.
- Aruba's FQ1 EPS was boosted by $113M in buybacks. The company announced a new $100M buyback plan last month.
Thursday, Nov 214:22 PM
Monday, Nov 185:21 PMAruba falls on cautious Wells Fargo note; Ruckus also drops
Monday, Nov 185:21 PM| Comment!
- Wells Fargo's Jess Lubert thinks Aruba (ARUN -9.8%) will report solid FQ1 results on Thursday, but also thinks its FQ2 guidance might be in-line "in line to slightly below [Wells Fargo's] estimate of $167 million and consensus of $166 million."
- Lubert is also forecasting FQ2 EPS of $0.15, below a $0.16 consensus. He also thinks the enterprise/carrier Wi-Fi hardware vendor might not meet 2H14 growth and op. margin expectations.
- Though expecting Aruba to likely "remain confident in its ability to capitalize on enterprise wireless demand and the ramp of new product," but could "express incremental near-term caution due to macro concerns and the need to invest for growth."
- Enterprise Wi-Fi kingpin Cisco recently reported only 8% Y/Y Oct. quarter revenue growth for its wireless ops, after reporting 32% growth for the July quarter.
- Rival Ruckus (RKUS -5.8%), which has relatively higher carrier Wi-Fi exposure, also sold off. Shares of both companies have priced in some bad news this year.
Wednesday, Nov 138:34 PMCisco's guidance, orders spark AH selloff in enterprise/telecom tech names
Wednesday, Nov 138:34 PM| 5 Comments
- Cisco's (CSCO) dispiriting Jan. quarter guidance and Oct. quarter order data has produced an AH selloff in enterprise IT and telecom equipment names, as well as a couple of the companies supplying them. NetApp's below-consensus guidance might not be helping either.
- HPQ -2.1% AH. IBM -1.1%. ALU -2%. FFIV -1.9%. CIEN -0.9%. CAVM -3%. BRCM -1.3%.
- Cisco's slumping FQ1 service provider (-13% Y/Y) and emerging markets (-12%) orders are bound to fuel concerns about carrier capex and macro trends. At the same time, it's worth noting Juniper and Alcatel-Lucent have been seeing better router sales to carriers (though not to Asia), and that Huawei has been doing better in emerging markets.
- The rest of Cisco's order data for major regions and customer groups was relatively better, but not exactly encouraging. Americas orders -2%, EMEA -4%, Asia-Pac (hurt by emerging markets weakness) -9%. Enterprise orders +2%, commercial (SMBs) +1%, public sector -1%.
- Switch sales (31% of revenue) rose 3% Y/Y, while routers (17% of revenue) fell 1%. Collaboration rose 1%, and service provider video fell 14% due to set-top weakness. Cisco's ASR 9000 edge router line, which EZchip (EZCH) supplies network processors for, grew 20% in FQ1 vs. 43% in FQ4.
- Data center (UCS servers) had another strong quarter, growing 44%, but still only accounts for 5% of revenue. Wireless (dominated by Wi-Fi gear) grew only 8% after growing 32% in FQ4 (could be a negative for ARUN and RKUS).
- John Chambers was asked on the CC (transcript) if the NSA spying uproar was affecting Cisco. He admitted it's a problem in China, but denied it was a major issue elsewhere.
Friday, Nov 89:49 AMUbiquiti jumps following FQ1 beat, strong guidance; enterprise sales soar
Friday, Nov 89:49 AM| Comment!
- Ubiquiti (UBNT +12.7%) is once more close to its all-time high of $43.99 after blowing away FQ1 estimates and providing strong guidance. The wireless networking hardware vendor expects FQ2 revenue of $130M-$136M and EPS of $0.42-$0.46, above a consensus of $123.8M and $0.40.
- Sales of Ubiquiti's airMAX high-speed transmission systems (47% of revenue) soared 88% Y/Y in Q3 after rising just 12% Y/Y in Q2, and declining 10% in Q1; the resolution of the the counterfeit hardware issues Ubiquiti dealt with last year had much to do with the airMAX turnaround.
- Total service provider sales (including airMAX) rose 82% Y/Y to $94.2M, while enterprise sales rose over 3x to $35.5M.
- Strong demand for Ubiquiti's new UniFi Wi-Fi hardware/software platform. fueled much of the enterprise growth. On the CC (transcript), CEO Robert Pera talked up UniFi's "disruptive pricing" relative to offerings from incumbents such as Cisco and Aruba (ARUN +1.1%), something he thinks make it an ideal solution for the SMB, hospitality, and education markets.
- Ubiquiti continues to run a very tight ship: opex was just 9.3% of revenue, down from a paltry 11% in Q2. R&D spend amounted to just $6.3M (4.9% of revenue). Gross margin was 44.7%, +400 bps Y/Y. However, CFO Craig Foster says Ubiquiti is now close to a "steady state" with regards to gross margin.
- Wedbush has upgraded shares to Outperform. The firm sees more room for enterprise Wi-Fi share gain, and notes wireless ISPs (some of whom use Ubiquiti's hardware) are taking share from cable/DSL providers.
Monday, Oct 2110:04 AMA roundup of tech ratings changes
Monday, Oct 2110:04 AM| 1 Comment
- SolarCity (SCTY +7.3%) has been started at Buy by BofA/Merrill.
- Salesforce (CRM +2.1%) has been upgraded to Strong Buy by Raymond James.
- Activision (ATVI +1%) has been started at Overweight by Barclays.
- MA-Com (MTSI +2.7%) has been upgraded to Overweight by Stephens.
- Russian carriers VimpelCom (VIP -0.5%) and MTS (MBT -1.8%) have been cut to Hold by Deutsche, and so has Aixtron (AIXG +3.2%)
- NII Holdings (NIHD -4.3%) has been cut to Underperform by Credit Suisse.
- Celestica (CLS -1.4%) has been cut to Hold by Canaccord.
- Aruba (ARUN +1.7%) has been started at Outperform by Northland.
- Applied Optoelectronics (AAOI +10.9%) has been started at Strong Buy by Raymond James.
- Xoom (XOOM +6.9%) has been started at Buy by SunTrust.
- Montage (MONT -0.4%) has been assigned five bullish ratings, and no neutral/bearish ones, on underwriter coverage day.
Tuesday, Oct 11:24 PMAruba up after launching cloud-based Wi-Fi management platform
Tuesday, Oct 11:24 PM| 1 Comment
- Aruba (ARUN +3.2%) has unveiled Aruba Central, a management software platform for the company's Wi-Fi hardware that (thanks to a cloud-based architecture) can be remotely accessed, and promises lower network deployment times. (PR)
- Aruba insists Central offers better performance than rival solutions, thanks in part to a management database "designed with web-scale performance" in mind. The company also asserts it's the only vendor that can "deliver a single architecture across controller-based and cloud-based Wi-Fi deployments."
- With Central, Aruba is looking to take on Cisco's (CSCO -0.4%) newly-acquired Meraki unit, which has long trumpeted its use of a cloud-based architecture; Cisco claims Meraki saw 100% Q/Q order growth in the July quarter.
- Network Computing's Lee H. Badman says he's "intrigued but not impressed" by Aruba's offering. While calling Central's interface "simple and effective," he observes the software lacks several features found in competing products, such as guess access and managed services support.
- Badman: "[Central is] pretty spartan beyond basic wireless management and monitoring, and feels small branch-oriented and 'first generation.'"
Wednesday, Sep 182:17 PMAruba up following Piper coverage launch, Ruckus also higher
Wednesday, Sep 182:17 PM| Comment!
- Piper's Troy Jensen has started coverage on Aruba (ARUN +2.8%) with an Overweight and $26 PT. The target is equal to 22x Piper's calendar 2015 op. income forecast (exc. cash).
- Jensen observes Gartner expects the Wi-Fi hardware market to post a 15.6% CAGR through 2017. He also argues Aruba's "broad portfolio of both controller and controller-less [Wi-Fi] technology, coupled with leading software solutions, will translate to further share gains in 2014."
- Jensen also thinks Aruba is "entering a period of easy comps and expanding margins."
- IDC estimates Aruba's enterprise Wi-Fi sales rose 13.6% Y/Y in Q2, slightly below market growth of 14.8% and good for an 11% share.
- Rival Ruckus (RKUS +3.5%), which was launched at Overweight by Piper in early July, is also trekking higher.
Wednesday, Sep 114:02 PMDeutsche tech conference presenters volatile
Wednesday, Sep 114:02 PM| Comment!
- A number of tech names were volatile today in the wake of presentations from company execs at Deutsche's annual dbAccess Technology Conference (runs from Sep. 10-12).
- In addition to Trulia (previous), companies rallying following presentations include Aruba (ARUN +3.5%), Wipro (WIT +3.5%), QLogic (QLGC +3.1%), Informatica (INFA +1.4%), and SGI (SGI +1.1%). QLogic might also be getting a lift from a bullish Barclays coverage launch.
- Companies declining following executive presentations include Dangdang (DANG -4.9%), Medidata (MDSO -1.9%), Ruckus (RKUS -1.8%), and Demand Media (DMD -1.8%).
- Full conference schedule
Wednesday, Sep 43:01 PMMore telecom equipment/component names rally thanks to Ciena, Juniper
Wednesday, Sep 43:01 PM| 2 Comments
- Equipment vendors Adtran (ADTN +10.1%), Ruckus (RKUS +4.5%), Aruba (ARUN +2.5%), Ericsson (ERIC +2.2%), Procera (PKT +2.1%) and Calix (CALX +2.3%), and component/chip suppliers Oplink (OPLK +4.1%), NeoPhotonics (NPTN +2.3%), Alliance Fiber (AFOP +3.1%), AppliedMicro (AMCC +5%), and PMC-Sierra (PMCS +1.9%) have joined the ranks of names outperforming following Ciena's (CIEN +13.6%) strong numbers (fueled by strong demand for metro/edge networking hardware) and Juniper's upbeat conference comments about Q3 bookings and router demand.
- Ciena mentioned on its FQ3 CC U.S. orders were relatively strong (likely a sign of strong AT&T/Verizon spending), as North American carriers lead the way in adopting newer technology platforms (100G optical, integrated Ethernet/optical hardware, etc.), However, the company also claimed Europe is stabilizing, and that it's seeing new customer wins in Latin America/Asia.
- Ciena also touted its share gains, noting Heavy Reading calls it the leader in the fiber-based Ethernet access switch space, and that Dell'Oro ranks its first in the integrated Ethernet/optical market. However, it does look as if Ciena has lost some share in optical transport (revenue +15% Q/Q but -26% Y/Y). The company says new customer wins will lead transport growth to pick up.
Friday, Aug 165:23 PMRuckus rallies; William Blair encouraged by management talks
Friday, Aug 165:23 PM| 2 Comments
- William Blair's Jason Ader, who is reiterating an Outperform, says meetings with Ruckus' management left his firm with "increased confidence" in Ruckus' (RKUS +2.7%) medium/long-term ability to benefit from growing carrier Wi-Fi deployments.
- Ader thinks carrier Wi-Fi is turning into a two-horse race involving Ruckus and Cisco (Aruba, Alcatel-Lucent, and Ericsson also compete), and that Ruckus is gaining enterprise Wi-Fi share. He also sees adoption of the Hotspot 2.0 standard (enables automatic discovery/login for carrier and public Wi-Fi networks) acting as a 2014 catalyst.
- Ruckus and rival Aruba (ARUN +0.7%) outperformed yesterday after Cisco (CSCO -0.9%) reported its Y/Y Wi-Fi hardware growth accelerated in the July quarter. Cisco also mentioned on its CC its recently-acquired Meraki enterprise Wi-Fi unit (a major Aruba rival) saw 100%+ Q/Q order growth, and is now on a $250M+/year order run rate.
Thursday, Aug 156:16 PMH-P dives thanks to Cisco, Aruba and Ruckus outperform
Thursday, Aug 156:16 PM| Comment!
- H-P (HPQ -4.5%) fell sharply today thanks to Cisco's (CSCO -7.1%) light guidance and order data, and perhaps also some of the specific factors that went into the numbers.
- But shares are up 0.5% AH in response to Dell's revenue beat. The fellow IT giant reported a 5% Y/Y drop in PC division sales, and 8% growth in enterprise hardware sales.
- Cisco, which fiercely competes with H-P in the server and Ethernet switch markets, mentioned on its CC enterprise orders fell 2% Y/Y in FQ4, thanks to a 10% EMEA drop. SMB (+5%), public sector (+6%), and carrier (+6%) orders were healthier.
- Also, though Cisco's U.S. (+5%) and EMEA (+6%) orders were solid, Asia-Pac orders fell 3% Y/Y. H-P's Asia-Pac sales fell 12% Y/Y in the April quarter.
- Cisco's data center revenue rose 43% Y/Y thanks to continued share gains for its UCS servers, but that represented a slowdown from FQ3's +77%. Switching revenue +5% Y/Y, thanks to 20% growth for the Nexus data center switch line. Routing was flat in spite of 69% growth for the ASR 9000 edge router line (good for EZCH).
- Cisco Wi-Fi hardware rivals Aruba (ARUN -0.2%) and Ruckus (RKUS -0.4%) outperformed the Nasdaq. Cisco reported 32% Y/Y Wi-Fi hardware growth, a pickup from FQ3's +27%.
- More on Cisco
Wednesday, Aug 147:07 PMFor whom Cisco tolls: Nasdaq futures, networking stocks down AH
Wednesday, Aug 147:07 PM| 1 Comment
- Nasdaq-100 futures (QQQ, XLK) -0.5% AH after Cisco provides relatively light FQ1 guidance to go with an FQ4 beat, and also reports Asia-Pac/Japan orders were down 3% Y/Y (macro is blamed).
- Networking/telecom hardware vendors and some of their suppliers are naturally the biggest decliners. Many of them have run up strongly this year on hopes of gradually improving carrier capex and enterprise IT spending. ALU -3.3% AH. JNPR -2.4%. ARUN -1.4%. FFIV -2%. ARRS -2.4%. RVBD -3.2%. JDSU -1.6%. FNSR -2.8%. CIEN -2.2%. CAVM -2%.
Wednesday, Jul 314:30 PMRuckus +10.1% AH thanks to Q2 beat, in-line guidance, low expectations
Wednesday, Jul 314:30 PM| Comment!
- Ruckus' (RKUS) Q3 guidance is for revenue of $66M-$69M and EPS of $0.04 vs. a consensus of $67.6M and $0.04.
- Q2 beat fueled by 62% Y/Y EMEA growth. Americas +31%.
- 2.9K new enterprise end-customers added.
- Shares were crushed in May thanks to a Q1 miss and light guidance, leaving investor expectations low.
- Piper's bullish coverage launch and Needham's upgrade look smart.
- CC at 5PM ET (webcast)
- Enterprise/carrier Wi-Fi rival Aruba (ARUN), whose shares have also plunged, is up 0.7%.
- Q2 results, PR