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FIO

Fusion-io, Inc.

5/21/2013, 5:12 PM ET

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Tuesday, May 14, 6:37 PM Fusion-io's (FIO) leadership change was about positioning the company for international and (enterprise) customer base expansion, new CEO Shane Robison and other execs told Street analysts. The execs insist there's no strategy change (though Robison does say FIO is doing "too many things" at once), and suggest FIO wants to ramp sales spend to land major international clients, particularly for hyper-scale deployments like Apple and Facebook's. Demand visibility for new customers (Salesforce, Pandora, etc.) is said to be strong, and the company is prepping a 2H launch of new flash modules relying on 20nm NAND flash. (SiliconAngle report) (UBS upgrade) Comment! [Tech]
Tuesday, May 14, 9:13 AM Fusion-io (FIO) +4.8% on an upgrade to Buy from UBS' Steve Milunovich. Though concerned about the sustainability of Fusion-io's competitive edge, Milunovich thinks the recent selloff "overcompensates for near-term risks," particularly in light of a solid FQ3 report. Shares are still down 16% since Fusion-io announced CEO David Flynn and CMO Rick White are leaving. Comment! [Tech, On the Move]
Thursday, May 9, 2:53 PM Fusion-io (FIO +0.2%) isn't for sale, states new CEO Shane Robison as he tries to clear the air about the company's surprising management shakeup. The company has long been the subject of M&A speculation, with some of the reports more far-fetched than others. Robison suggests the shakeup is aimed at taking Fusion-io to the next level (read: growing its enterprise base), rather than the result of a strategy disagreement. Fusion-io has come to embrace a software-driven strategy over the last 12 months, something Robison appears to be on board with. (SiliconAngle report) 2 Comments [Tech, M&A]
Wednesday, May 8, 2:53 PM Fusion-io (FIO -22.7%) CEO David Flynn and CMO Rick White "were forced out by the board," a source tells SiliconAngle. "They were founders with immense control and the board didn’t like that ... This is a shock to employees." Meanwhile, Piper's Andrew Nowinski, a long-time FIO bull, is worried the company could lose Facebook as a client, given the relationship has depended on management ties. Nonetheless, he calls the shakeup "a necessary step needed to drive further penetration of the enterprise market." New CEO Shane Robison is being praised for his enterprise chops, and criticized for his role in a string of failed H-P acquisitions. 1 Comment [Tech]
Wednesday, May 8, 12:53 PM Midday top 10 gainers: TRMD +68%. SYNM +35%. AFFY +35%. ALXA +25%. CSPI +21%. PSE +21%. NBG +20%. WBMD +18%. SCOK +17%. EA +16%.
Midday top 10 losers: FIO -25%. OCLR -23%. LIOX -18%. VCLK -17%. AXLL -16%. OCLS -15%. BTH -15%. SALM -13%. ACFC -12%. SNTA -12%. Comment! [On the Move]
Wednesday, May 8, 9:17 AM Premarket gainers: ALXA +51%. PSE +19%. LEDR +16%. NBG +11%. WFM +8%. EA +6%. PRTS +6%. SFUN +6%. CTSH +5%.
Losers: FIO -22%. VCLK -19%. OCLR -19%. AXLL -9%. CIE -7%. CHRW -7%. SODA -6%. DDD -6%. SYMC -5%. Z -5%. VVUS -5%. Comment! [On the Move]
Wednesday, May 8, 9:11 AM Fusion-io (FIO) -17.6% after announcing CEO David Flynn has resigned to "pursue entrepreneurial investing activities," and that CMO Rick White is joining him; both will maintain advisory roles for the next 12 months. Director and former H-P chief strategy officer/CTO Shane Robison, recently made a fall guy for the Autonomy acquisition by Meg Whitman, has been hired to be the company's new CEO. Fusion-io, which announced a CTO change only last week, is reaffirming its FQ4 guidance. 11 Comments [Tech, On the Move]
Thursday, May 2, 12:46 PM Micron (MU -0.2%) is down slightly on an up day for tech after receiving a downgrade to Underperform by CLSA. The downgrade comes as Micron advances its enterprise ambitions by announcing a new PCI-Express flash module for servers and storage gear - like SanDisk (SNDK), Micron is counting on its ability to obtain NAND flash at cost to help stand out in a crowded market featuring Fusion-io (FIO), STEC, Intel, and Marvell, among others. Yesterday, Morgan Stanley reiterated an Overweight on Micron and SanDisk, arguing investment plans and equipment order activity indicate NAND capacity will remain tight in 2013. 4 Comments [Tech]
Wednesday, May 1, 9:36 AM Fusion-io (FIO -0.1%) hires Pankaj Mehra, a former H-P distinguished technologist who helped develop persistent memory in his Compaq days, to be its new CTO. He replaces Neil Carson, who will now be Fusion-io's Asia-Pac CTO and VP. (PR) Comment! [Tech]
Thursday, April 25, 9:12 AM Premarket gainers: MPG +23%. INFN +19%. AKAM +17%. FIO +16%. CLF +8%. YNDX +7%. NXST +7%. NOW +7%. CAB +6%. CAKE +6%.
Losers: XIDE -15%. WHX -14%. INTU -13%. ZNGA -9%. MLNX -8%. AVEO -7%. CTXS -7%. 1 Comment [On the Move]
Wednesday, April 24, 5:52 PM After-hours top gainers, as of 5:15 p.m.: AKAM +16%. FIO +12%. AVG +10%. ANGI +8%. BYI +6%.
After-hours top losers: SUPN -14%. CTXS -12%. EQIX -11%. INTU -10%. ZNGA -8%. Comment! [On the Move]
Wednesday, April 24, 5:24 PM Fusion-io (FIO) is now up 10.9% AH following its FQ3 beat and strong FQ4 guidance. FQ3 gross margin was 59.9%, near the high end of a guidance range of 58%-60%; it's expected to drop in FQ4 to 56%-58%. The NexGen acquisition takes Fusion-io into the market for standalone storage gear, and does so in a surprising way, given the startup's products package Fusion-io's flash modules and software with standard hard drives. It's worth noting NexGen's products are aimed at SMBs - thus far, Fusion-io's modules have largely been sold to enterprises and major Internet services firms. (PR) Comment! [Tech, Earnings, On the Move, M&A]
Wednesday, April 24, 4:17 PM Fusion-io (FIO): FQ3 EPS of -$0.03 beats by $0.04. Revenue of $87.7M (-7% Y/Y) beats by $7.2M. Expects FQ4 revenue of $110M, above $107.3M consensus. Company is acquiring hybrid flash memory/hard drive storage vendor NexGen Storage for $119M. Shares +0.7% AH. (PR) 1 Comment [Tech, Earnings, Breaking News, M&A]
Wednesday, April 24, 12:10 AM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA 1 Comment [Earnings]
Tuesday, April 23, 5:35 PM Notable earnings after Wednesday’s close: AFL, AIZ, AKAM, ANGI, ARII, ARRS, ASGN, AVG, BAS, BDN, CAKE, CCI, CDNS, CLF, CLGX, CMO, CMRE, COG, CROX, CTXS, DRE, DRWI, EFX, EQIX, FFIV, FIO, FLS, GGG, INFN, ISIL, ITMN, JAH, KEX, LOGI, LPS, LRCX, LSI, MLNX, NEU, NOW, OIS, ORLY, OTEX, PDH, PMTC, QCOM, RJF, RYL, SCI, SKX, SRCL, SUSQ, SYK, TAL, TER, TEX, TQNT, TSCO, TWI, VAR, WCN, WDC, WLL, XLNX, XNPT, ZNGA Comment! [Earnings]
Tuesday, April 23, 1:03 PM Q1 checks for Fusion-io (FIO +7.6%) indicate a slight improvement in enterprise demand and easing competitive pressures, says Piper in a note giving the server flash module vendor a big lift ahead of Wednesday's FQ3 report. Though Fusion-io's 2013 slump has more to do with concerns about Apple and Facebook than enterprise orders, the Street is happy to hear bullish enterprise-related comments in light of recent numbers from OEM partner IBM. Piper has long maintained a bullish stance on Fusion-io, which had a whopping 44.7% of its float shorted as of March 28. (Stifel upgrade) Comment! [Tech, On the Move, Quick Ideas]

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