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Oct. 16, 2014, 1:41 PM
- Stating checks indicate Akamai's (AKAM -2.2%) media traffic has dropped in October, Wells Fargo has downgraded the CDN leader to Market Perform, and cut its valuation range to $57-$61 from $70-$75.
- Wells is also worried about the impact of a strong dollar on Akamai's foreign sales. eBay disclosed yesterday forex is taking a toll on its 2H14 performance.
- Akamai was hit earlier this year by news major customer Apple is following Netflix's lead by building its own CDN; the CDN went live this summer. The company has made cutting its dependence on low-margin media delivery sales a priority.
- Rival Limelight (LLNW -2.5%), more dependent on media delivery than Akamai, is also off. Akamai's Q3 report is due on July 30.
Aug. 4, 2014, 4:04 PM
Aug. 3, 2014, 5:35 PM
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Jun. 16, 2014, 10:04 AM
- P-E firm Tuition Build has offered to buy Limelight (LLNW) for $644.7M, or $6.55/share - a 131% premium to Friday's close.
- However, Limelight says it has "concluded that Tuition Build does not have the experience, credentials, financial resources, or capability to complete the proposed transaction," and that investors should "disregard" the offer.
- Limelight has been posting Y/Y revenue declines and losses amid softer demand from Netflix, which has been busy building its own CDN. Tuition Build's offer comes as Limelight rival Level 3 announces a $7.3B deal to buy TW Telecom.
Jun. 16, 2014, 9:15 AM
Jun. 2, 2014, 7:05 PM
- The Supreme Court has ruled Limelight (NASDAQ:LLNW) is "not liable for inducing infringement" of an Akamai (NASDAQ:AKAM) CDN patent. (court ruling - .pdf)
- The SC's ruling overturns a guilty verdict against Limelight from a federal appeals court. The case was closely watched by tech companies who feared an Akamai victory would open the door to a large number of frivolous lawsuits from litigants claiming induced infringement.
- Google, Oracle, Cisco, and other tech giants backed Limelight in the dispute, as did the White House.
- LLNW +1.7% AH.
May 21, 2014, 2:41 PM
- Akamai (AKAM +2.9%) and Level 3 (LVLT +0.4%), pressured lately by reports Apple and Comcast are planning to launch CDNs, are higher today, though Level 3 has given back some of its early gains. Limelight (LLNW +1.4%) is also up.
- Dan Rayburn has reported Apple, a major Akamai customer, is busy building out a large CDN infrastructure to deliver its content, and is also negotiating direct peering/interconnection deals with top ISPs. He originally wrote about Apple's CDN ambitions in February.
- Rayburn also reports Comcast has joined the ranks of carriers building its own last-mile CDN. He thinks some content owners who use Comcast's service might "pay 20%-40% less than what they pay now," given Comcast already owns the network on which the CDN is being built.
- Akamai, which still claims the world's biggest CDN and proprietary routing algorithms, has tried to counter the carrier CDN threat by striking partnerships - its client list includes AT&T, Telefonica, and Orange. It has also been trying to lower its dependence on a commodity media delivery business (includes sales to Apple) that's seeing intense price pressure.
May 6, 2014, 4:35 PM
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Mar. 19, 2014, 2:41 PM
Feb. 13, 2014, 4:57 PM
- In addition to posting mixed Q4 results, Limelight (LLNW) has authorized a $15M buyback, good for repurchasing 6% of shares at current levels. The CDN owner had $118.5M ($1.22/share) in cash at the end of 2013 to finance its buyback efforts.
- Q4 gross margin rose 50 bps Y/Y to $36.2M. While revenue declined 9% Y/Y, opex fell 4% to $24.5M.
- Q4 results, PR
Feb. 13, 2014, 4:13 PM
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Limelight Networks Inc operates a computing platform. The Company provides services including content delivery services, video content management services, performance services for website and web application acceleration, and cloud storage services.
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