Cyan enables network transformation. The company's software-defined network (SDN) solutions deliver orchestration, visualization, and scale to networks that, until now, have been static and hardware driven. Serving carriers, enterprises, governments, and data center operators globally, Cyan's... More
Friday, Dec 201:34 PM
Friday, Dec 201:34 PM| Comment!
- FBR's Scott Thompson has started coverage on Infinera (INFN +1.6%) with an Outperform and $12.50 PT. He expects the optical networking space to "experience stronger performance in 2014 versus 2013" thanks to several catalysts he expects will "one of the strongest optical cycles the industry has seen in more than two decades."
- Thompson also reiterates an argument he made in a Dec. 4 note on Ciena (CIEN +2.3%): That telecom networks are migrating towards architectures that offer greater optical layer intelligence/flexibility, and in doing so require less money to be spent on switches/routers.
- Thompson thinks this architecture shift is partly responsible for the recent weakness seen in Cisco's (CSCO +0.6%) service provider sales.
- As for Infinera, a major player in the 100G optical transmission space, Thompson declares the company to have the strongest exposure to the optical segments where "the shift will be the most pronounced."
- In addition to Infinera and Ciena, a couple other optical networking hardware vendors are doing well on a good day for tech, as are some component suppliers. CYNI +4.3%. AFOP +5.9%. OPLK +2.8%. OCLR +2.4%. ADTN +1.9%.
Wednesday, Dec 42:59 PM
Wednesday, Dec 42:59 PM| Comment!
- FBR's Scott Thompson thinks Ciena (CIEN +7%) will deliver a beat-and-raise FQ4 report on Dec. 12, and sees the telecom equipment vendor benefiting from carrier adoption of network architectures that feature "more intelligence and flexibility at the optical layer."
- Thompson sees carriers building more advanced metro optical networks, replete with data centers that enable services such as content caching, app hosting, and advanced mobile messaging. He points to a recent optical switching deal between Verizon and Ciena as an example of how the latter benefits from this trend, and sees a similar deal with AT&T arriving soon.
- At the same time, he cautions optical gross margins "could be under pressure," thanks to aggressive pricing from Infinera (INFN +2%), lengthy deployment times, and the adoption of software-defined networking controllers (CYNI is among the companies providing them) that remove some intelligence from the optical layer.
- Ciena flew higher three months ago following its FQ3 report. The company reported solid demand for its integrated Ethernet switching/optical networking hardware, which now accounts for 56% of revenue.
- Infinera is following Ciena higher, and so are Finisar (FNSR +5.2%), JDS Uniphase (JDSU +3.1%), Fabrinet (FN +1.8%), and AppliedMicro (AMCC +3.9%).
Thursday, Nov 1412:45 PM|Thursday, Nov 1412:45 PM| Comment!
Tuesday, Nov 129:44 AM
Tuesday, Nov 129:44 AM| 1 Comment
- Voxeljet (VJET -3.5%) has received one bullish rating and two neutral ones on underwriter coverage day.
- Veeco (VECO -3.6%) has been cut to Sell by Noble Financial, and started at Sell by Canaccord. The company delivered mixed Q3 results last Friday.
- Rovi (ROVI +4.1%) has been upgraded to Sector Perform by Pac Crest. The upgrade comes as Rovi announces a DivX video codec licensing deal with Panasonic. Goldman cut shares to Sell last week, following the company's Q3 miss.
- Gogo (GOGO +2.2%) has been cut to Neutral by UBS after flying higher yesterday thanks to a Q3 beat and strong Q4 guidance.
- Faro (FARO -2%) has been cut to Hold by Stifel. Shares closed yesterday near their 52-week high, after surging two weeks ago in response to a Q3 beat.
- Cyan (CYNI +4.2%) has been started at Market Perform by FBR. With shares having closed near their post-IPO lows yesterday, investors seem pleased.
Wednesday, Oct 301:19 PM
Wednesday, Oct 301:19 PM| Comment!
- Several telecom equipment vendors and component suppliers are selling off in sympathy with Calix (CALX -22.7%) and Cyan (CYNI -31.8%), each of which is crashing due to the poor Q4 guidance (I, II) provided with its Q3 results. Both companies are heavily dependent on U.S. telco spending.
- Calix blamed its guidance on soft demand from tier-2 and tier-3 carriers, while Cyan blamed "cautious order patterns" caused by macro issues. On its CC (transcript), the company noted orders from top customer Windstream will be "substantially down compared to prior quarters."
- Notable decliners include Finisar (FNSR -7.3%), JDS Uniphase (JDSU -3%), Ruckus (RKUS -6.6%), Applied Micro (AMCC -3.8%), Procera (PKT -4.1%), Allot (ALLT -3.8%), Ciena (CIEN -2.7%), and Alliance Fiber (AFOP -7.7%). JDS and Ruckus report after the bell; Allot and Procera rallied yesterday in response to the former's Q3 report.
- Several industry names sold off last Thursday due to Infinera's soft Q4 guidance. Infinera said at the time it doesn't "expect significant budget flush or year-end money" from carriers.
Wednesday, Oct 3012:45 PM|Wednesday, Oct 3012:45 PM| Comment!
Wednesday, Oct 309:48 AM
Wednesday, Oct 309:48 AM| Comment!
- Electronic Arts (EA +11%) has been upgraded to Strong Buy from Hold by Needham after beating FQ2 estimates and issuing solid FY14 guidance.
- LSI (LSI +3.1%) has been upgraded to Overweight by Morgan Stanley a week after posting mixed Q3 results.
- Nanometrics (NANO +17.8%) has been upgraded to Outperform by Pac Crest in the wake of its Q3 beat.
- InvenSense (INVN -16.1%) has been cut to Neutral by Roth after issuing below-consensus FQ3 guidance to go with an FQ2 beat.
- Cyan (CYNI -26.3%) has been cut to Hold by Jefferies after issuing weak Q4/2014 guidance to go with a Q3 beat.
- Digital Realty (DLR -13.1%) has been cut to Market Perform by Raymond James after posting mixed Q3 results and issuing soft Q4/2014 FFO guidance. Off in sympathy: EQIX -1.1%. DFT -2.7%.
Tuesday, Oct 295:14 PM
Tuesday, Oct 295:14 PM| Comment!
- Cyan (CYNI) shares plunge 23.5% AH after the company beat expectations in Q3 but issued dismal Q4 guidance.
- In Q4, management expects revenue of $30M-$33M (vs. consensus of $46.1M) and EPS of -$0.24 to -$0.19 (-$0.08).
- For 2014, the company forecasts annual revenue growth of 33%, compared to analyst expectations of 46%.
- PR, conference call at 5pm ET
Tuesday, Oct 294:55 PM
Wednesday, Sep 49:29 AM
Wednesday, Sep 49:29 AM| Comment!
- Ciena (CIEN) expects FQ4 revenue of $550M-$580M, mostly above a $551.4M consensus.
- Sales of integrated Ethernet switching/optical networking gear (Converged Packet Optical) rose 3% Q/Q and 23% Y/Y in FQ3, and made up 56% of revenue. That could be a positive for Cyan (CYNI - previous).
- Ethernet switch sales (packet networking) +14% Q/Q and +104% Y/Y, and now 11% of revenue. Optical transport hardware +15% Q/Q but -26% Y/Y, and 12% of revenue. Software/services +7% Q/Q and +1% Y/Y, and 20% of revenue.
- As Cisco and Juniper can vouch, demand for metro/edge networking hardware (such as Ciena's converged packet optical gear and Ethernet switches) has been strong lately.
- Gross margin was 43.6%, +110 bps Q/Q and +400 bps Y/Y, and reversing FQ2's Q/Q decline. It's expected to be in the low-40s in FQ4. Opex -3.5% Q/Q and only +8% Y/Y, op. margin jumped to 8.2% from 3.7% in FQ2.
- International customers made up 37% of revenue vs. 43% in FQ2. Two customers (possibly AT&T/Verizon) accounted for 31.8% of revenue, nearly even with FQ2.
- Infinera (INFN) +6.9%, JDS Uniphase (JDSU) +2.5% and Finisar (FNSR) +2.8% in sympathy.
- Ciena also jumped following its FQ2 results. Needham's July call was on the mark.
- FQ3 results, PR
Wednesday, Aug 2812:51 PM
Wednesday, Aug 2812:51 PM| Comment!
- In an SA Pro column (embargoed until 9:30AM tomorrow), Stephen Simpson argues Cyan (CYNI +4.9%) is capable of delivering a 20% CAGR through 2022 on the back of strong demand for its packet-optical systems (they combine Ethernet switching and optical transmission systems) and carrier software-defined networking (SDN) platform.
- Simpsons observes Cyan had 85 customers for its Blue Planet SDN platform (still less than 10% of revenue) at the end of Q2, up from the 35 going into its IPO, and that the company's hardware addresses an $18.5B/year market opportunity.
- However, he cautions Cyan remains dependent on telco Windstream (37% of Q2 revenue), and that competition is fierce. Cisco, Ciena, and Tellabs are major players in the packet-optical space, and Cisco and Huawei are among the companies working on carrier SDN solutions.
- Cyan remains 14% below its May IPO price of $11.
Wednesday, Aug 71:11 PM|Wednesday, Aug 71:11 PM| Comment!
Wednesday, Aug 76:44 AM
Thursday, May 910:35 AMCyan (CYNI) turns in a disappointing IPO. After pricing its 8M-share offering at $11, the telecom equipment/software provider opened at $10.05 and is currently at $10.68, down 2.9%. That's good for a market cap of $475M. Cyan, which competes with Cisco, Alcatel-Lucent, Ciena, and other top telecom equipment vendors, posted Q1 revenue of $26.3M (+85% Y/Y), and a net loss of $9.4M. (2012 results) (S-1) |Thursday, May 910:35 AM| Comment!
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pl14mjr99:: i read that 40% of their value is cash and this looks like an oversold option. I wish i would have gone in 2 days earlier but in nonetheless