Oct. 29, 2014, 4:34 PM
Oct. 28, 2014, 5:35 PM
- ABX, ACGL, ACHC, ACMP, AEGN, AEM, AFOP, AHL, AIZ, AKAM, ALDW, ALL, ANIK, ARAY, ARII, ARRS, ASGN, ATML, AUY, AXS, BGC, BIDU, BLKB, BMR, CACI, CALX, CAR, CATM, CAVM, CBG, CBL, CEMP, CENX, CHDN, CJES, CLD, CLUB, CMO, CNW, CRL, CRUS, CSGP, CSII, CUZ, CW, CWT, DAC, DRE, DRIV, DWA, EQIX, EQY, ESRT, ESV, EXL, EXR, FBHS, FFIV, FISH, FLEX, FLTX, FMC, FNF, FORM, FORR, FR, GLUU, HBI, HOS, HT, IPI, IRG, ISIL, JDSU, KEX, KRFT, KS, LGCY, LNC, LOCK, LOPE, MAA, MANT, MASI, MDAS, MEOH, MET, MOBL, MTGE, MUR, NCLH, NE, NEU, NEWP, NSIT, OII, PDM, PEIX, PGTI, PPC, PRXL, PSMI, PVA, QGEN, QTM, QUIK, RFMD, RGR, RJF, RNG, RRC, RRTS, RST, SCI, SFLY, SGI, SIMO, SLCA, SPN, SPRT, SSNC, SSS, STR, SU, TEX, TFSL, TGB, TGI, THG, TRLA, TTMI, TTWO, UNM, V, VECO, VGR, VPRT, VR, WLL, WMB, WPZ, WSTL, WTW
Oct. 24, 2014, 12:32 PM
- Though Ericsson (ERIC -3%) beat Q3 estimates, the mobile infrastructure giant stated North American business activity "slowed down during the quarter as operators currently focus on cash flow optimization." It added North American spending patterns make it tough to judge near-term demand.
- Ericsson's North American sales fell 3% Y/Y to $1.93B, partly offsetting strong growth in China, India (+56%), the Middle East (+38%), and other emerging markets. Top-line figures were boosted some by M&A.
- AT&T and Verizon have been taking cautious approaches to capex, and Sprint (though investing heavily in 4G following the SoftBank deal) has been looking to cut costs under new CEO Marcelo Claure. The U.S. and Japan have been ahead of many other developed markets in ramping 4G coverage.
- Juniper (JNPR -6.3%) offered light Q4 guidance two weeks after delivering a Q3 warning, and reported its service provider sales were down 6% Y/Y due to soft demand from Asia-Pac, EMEA, and (especially) U.S. carriers.
- When the world's #2 carrier router vendor was asked on the CC (transcript) about 2015 sales, CEO Shaygan Keradpir admitted Juniper has poor near-term visibility, and that a rebound could take time. "Because we think these cycles typically take 2 to 4 quarters ... our planning assumption is that growth will return in the second half of 2015."
- Nokia and Infinera recently offered more positive numbers/commentary. Bulls have argued strong data/video traffic growth will lift capex. Bears have argued soft (if not negative) carrier revenue growth will continue pressuring spending.
- Decliners: ALU -1.6%. JDSU -2%. INFN -3.1%. CIEN -2.5%. CALX -2.5%. FNSR -1.8%. ADTN -1.5%. The Nasdaq is up 0.4%.
Oct. 15, 2014, 4:07 PM
- In an encouraging sign for beaten-down telecom equipment and chip/component stocks, Adtran (ADTN +5.7%) managed to rally even though it guided on its Q3 CC (transcript) for a low-to-mid teens Q/Q revenue drop. Consensus (doesn't appear to have fully accounted for Adtran's Q3 warning) was for revenue to drop 2% to $154.9M in Q4.
- Adtran attributed much of its Q3 weakness to "a decline in Europe as a large project there had a seasonal slowdown." Enterprise softness also took a toll.
- The company "[expects] to see an upturn in this business" in 2015, but European sales are expected to remain soft in Q4. Other equipment vendors, such as Juniper (JNPR +2%) and Ciena (CIEN +2.7%), have provided weak guidance blamed on U.S. wireline capex; AT&T is generally seen as a big culprit.
- In addition to Juniper and Ciena, many other industry names have closed with healthy gains. PKT +6.3%. INFN +3.4%. ZHNE +6.7%. ALLT +5.2%. AFOP +4.5%. AMCC +12.5%. CYNI +4%. CALX +3.3%. FNSR +3.1%. UBNT +4.2%. OPLK +3.4%. RKUS +3.3%.
Oct. 3, 2014, 1:37 PM
- Adtran (NASDAQ:ADTN) expects Q3 revenue of $162M-$163M and EPS of $0.23-$0.24, below a consensus of $177.4M and $0.27.
- The company blames a bigger-than-expected Q/Q drop in European sales, and a "softer enterprise spending environment." On the other hand, sales to U.S. carriers (a weak spot for many companies as of late) grew Q/Q, and Adtran forecasts "a re-acceleration in carrier spending both in Europe and the U.S." in 2015.
- Telecom equipment peer Cyan (CYNI -5.4%) is selling off on a day the Nasdaq is up 1%. Calix (CALX -1.1%) is off moderately.
Jul. 29, 2014, 4:38 PM
Jul. 28, 2014, 5:35 PM
- ACHC, ACMP, AEC, AEGN, AEGR, AFL, AJG, AMCC, AMGN, AMP, APC, APU, ARI, AXP, AXS, BGFV, BLDP, BOOM, BWLD, BXP, CALX, CAP, CBG, CBL, CEB, CEMP, CHMT, CHRW, CINF, CLD, CLMS, CPWR, CRAY, CSLT, CVD, DLR, DOX, DWA, EEFT, EQR, ESRX, EW, EXAM, EZPW, FARO, FBP, FISV, GAS, GNW, GPN, GPRE, HTA, HURN, IGT, INAP, INVN, IPHI, IVR, KIM, LNDC, MAR, MOVE, NATI, NCR, NEM, NEU, NFX, NTRI, NUVA, PEI, PLT, PNRA, QGEN, RBC, RGR, RKT, RNG, RNR, ROG, RPXC, RT, RUBI, SB, SLCA, SM, SQNM, TMH, TRN, TWTR, TX, UGI, ULTI, USNA, VRSK, VRTX, WNC, WSH, WTS, X, XCO, XPO
Apr. 29, 2014, 4:32 PM
Apr. 28, 2014, 5:35 PM
- ACE, ACHC, ACMP, AEC, AEGN, AFL, ANIK, ARI, AUY, AXS, AZPN, BGFV, BOOM, BXP, CALX, CAP, CEB, CEMP, CHE, CHRW, CLD, CMRE, CNQR, COLM, CRAY, DLB, DNB, DWA, EBAY, EEFT, EIX, EPR, ESRX, EZPW, FARO, FEIC, FISV, GMED, GNW, GPRE, HURN, IPHI, LOGM, MAC, MAR, MEOH, MWA, NANO, NATI, NCR, NDLS, NFX, NUVA, OHI, OI, PNRA, PRXL, REXX, RFMD, RNG, RNR, RPXC, RVBD, SIMG, SKT, SLCA, SM, STR, STX, SWI, TE, THG, TMH, TRLA, TRN, TTS, TWTR, ULTI, USNA, VNR, VPRT, VRSK, WSH, X, XCO.
Apr. 16, 2014, 11:53 AM
- Though Adtran (ADTN -6.2%) has reiterated guidance for Q2 revenue of $172M-$180M (consensus is at $174.9M), the telecom equipment vendor is forecasting gross margin will drop to 49%-50% from Q1's 52.9%.
- In addition, Adtran says U.S. carrier spending was slower than usual in seasonally soft Q1.
- Shares are off sharply in response, after opening with just modest losses in response to Adtran's mixed Q1 results. Rival Calix (CALX -0.9%), which reports on April 29, is edging lower on an up day for the Nasdaq.
Feb. 11, 2014, 4:06 PM
Feb. 11, 2014, 12:10 AM
Feb. 10, 2014, 5:35 PM
Jan. 22, 2014, 4:05 PM
- After reporting an EPS beat and in-line revenue this morning, Adtran (ADTN +4.5%) guided on its CC for Q1 revenue to be flat to down by a mid-single digit percentage Q/Q.
- Though the consensus is for revenue to be down less than 1% Q/Q to $158.8M, investors are taking heart in Adtran's forecast, given it follows warnings from several telecom equipment names.
- A slew of telecom equipment and component/chip vendors followed Adtran higher today. JDSU +3.1%. NPTN +4.6%. FNSR +2.3%. [CIEN] +2.1%. ALLT +2.6%. PKT +1.8%. CALX +1.7%.
Jan. 8, 2014, 4:46 PM
- Calix (CALX) shares dip 1.6% in AH trading after the company issues a preliminary Q4 revenue range of $93.5M-$94.5M, below both previous guidance of $97M-$103M and analyst consensus of $100.5M, and an EPS range of $0.02-$0.04, below previous guidance of $0.03-$0.08 and consensus of $0.07.
- The company attributes the downward revision to a larger-than-expected decline in "traditional year-end 'budget flush' customer spending patterns."
Dec. 12, 2013, 11:51 AM
- Cisco (CSCO -2.3%) is now targeting annual revenue growth of 3%-6% over the next 3-5 years, down from a prior 5%-7%, says CFO Frank Calderoni states at the networking giant's analyst meeting. In addition, Calderoni says Cisco's FY14 (ends July '14) revenue growth outlook is "basically" in-line with a Street forecast for a 4% decline.
- Cisco is now aiming for services revenue growth of 7%-10% over the next 3-5 years, down from 9%-11%; services accounted for 22% of Cisco's Oct. quarter revenue. Businesses related to "enabling the cloud" (a somewhat nebulous term) are expected to show a 12%-18% growth rate.
- Cisco, already pressured by John Chambers' macro comments, continues to trade lower. Many networking equipment peers and component/chip suppliers are also selling off; in addition to Cisco, Ciena's mixed FQ4 results and slightly soft FQ1 guidance could be playing a role here.
- Notable networking equipment/component/chip decliners: JNPR -3.1%. BRCM -2.5%. PKT -2.8%. FFIV -2.2%. ERIC -2.1%. JDSU -1.9% (getting pulled from the S&P 500). AFOP -5.5%. CAVM -1.7%. AMCC -1.8%. BRCD -1.8%. MRVL -1.6%. ARUN -1.7%. CALX -1.7%.
CALX vs. ETF Alternatives
Calix, Inc., offers broadband communications access systems and software for fiber- and copper-based network architectures that enable communications service providers, to connect to its residential and business subscribers in North America.
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