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RVBD

Riverbed Technology, Inc.

6/19/2013, 6:59 AM ET

Quote & Headlines Market Currents StockTalk

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| Earnings
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| On the move

Wednesday, June 12, 9:29 AM Riverbed (RVBD) +3.1% after catching an upgrade to Buy from Lazard's Ryan Hutchinson. While granting Riverbed's core WAN optimization hardware business is slowing, Lazard's "fieldwork suggests that Riverbed continues to execute on its vision to become a more strategic infrastructure asset," and that its Granite storage optimization gear and OPNET's NPM software can boost growth while "creating a stickier customer base." Hutchinson says a talk with CFO Ernie Maddock leaves him more confident about OPNET integration (a major investor concern), and thinks federal spending visibility is improving. The upgrade comes with shares -20% YTD. Comment! [Tech, On the Move, Quick Ideas]
Thursday, June 6, 9:48 AM Following the open, a few more telecom equipment and optical component names are rallying in response to Ciena's (CIEN +14.2%) strong FQ2 beat and FQ3 guidance, which seems to be stoking optimism rising Web/mobile traffic will propel telecom capex higher whether or not carriers want it to. OCLR +5.9%. ADTN +4.7%. UBNT +3.4%. RVBD +3.8%. CALX +2.7%. TLAB +1.5%. XXIA +2.1%. Comment! [Tech, On the Move]
Friday, May 31, 7:08 PM F5's (FFIV) application delivery controller (ADC) share fell to 43% in Q1 from 48% a year earlier, and Citrix's (CTXS) rose to 25% from 16%, estimates UBS after going over calendar Q1 results and industry data from Dell'Oro. Citrix has been leveraging its new partnership with Cisco to gain ADC share; F5 is counting on a pending mid-range refresh to strengthen its hand. Meanwhile, Riverbed (RVBD) is believed to have seen its share of the WAN optimization hardware market fall to 40% from 43%, as F5 grew its share to 7%. Cisco (CSCO) is estimated to have a 19%-20% WAN optimization share, and a 23% security hardware share. Comment! [Tech]
Tuesday, April 30, 2:44 PM Riverbed (RVBD -0.1%) has erased the big AH losses it saw following its Q1 report,as the Street decides the results and light Q2 guidance are priced in following a 25% YTD drop. The fact WAN optimization sales are expected to grow in Q2 following a rough Q1 (OPNET sales are a different story) could be helping. JMP (Market Perform): "We believe the company sufficiently reset expectations ... In addition, we are encouraged that some key products are gaining momentum." On its earnings call, Riverbed noted 25% of Granite storage appliance clients are new to the company, and that it's counting on a richer feature set to lift slowing WAN optimization growth. Comment! [Tech, Earnings]
Tuesday, April 30, 9:10 AM Premarket gainers: HPY +10%. HTWR +9%. ANAD +9%. AVP +8%. UBS +7%. BBY +6%.
Losers: DCTH -20%. AVEO -16%. NUAN -15%. PBI -10%. MTG -8%. CNH -6%. RVBD -6%. QGEN -5%. Comment! [On the Move]
Monday, April 29, 5:38 PM After-hours top gainers, as of 5:15 p.m.: HTWR +9%. TXRH +8%. MGT +3%. USLV +3%. BWLD +2%.
After-hours top losers: MCO -8%. RVBD -7%. NSPR -7%. MBI -6%. BAH -3%. 1 Comment [On the Move]
Monday, April 29, 5:06 PM Riverbed (RVBD) guides on its Q1 call (webcast) for Q2 revenue of $255M-$260M and EPS of $0.21-$0.22, below a consensus of $273.4M and $0.25; a 2H pickup is promised. While Riverbed's core business is expected to grow 6%-7% Q/Q, OPNET sales are expected to drop to $42M-$46M from Q1's $52M. OPNET weakness is blamed on seasonality, gov. weakness, and (in what will get the most scrutiny) integration challenges. WAN optimization (68% of sales) rev. growth fell to 6% Y/Y in Q1 (a slowing market?). U.S. enterprise was a strong point, and 29 Granite customers were added. $25M in buybacks took place in Q1. Shares -8.2% AH. 1 Comment [Tech, Earnings, Breaking News]
Monday, April 29, 4:26 PM More on Riverbed: Q1 rev. growth was 10% Y/Y exc. OPNET (deal closed in Dec.), down from Q4's 14%. Company says "weak government spending and general economic softness" hurt results - some peers have also blamed gov. spending (esp. U.S. federal). EMEA sales fell 13% Q/Q in spite of OPNET; Asia-Pac -2%, Americas +13% and now 65% of revenue. Thanks to OPNET, Riverbed now has a 20/80 split between direct and indirect (channel/OEM) sales vs. 7/93 in Q4. RVBD -10.4% AH to its 52-week low of $13.30. CC at 4:30PM ET (webcast), guidance should be provided. (PR) Comment! [Tech, Earnings]
Monday, April 29, 4:08 PM Riverbed Technology (RVBD): Q1 EPS of $0.23 in-line. Revenue of $253M (+38% Y/Y) misses by $8.25M. Shares -12.4% AH. (PR) 1 Comment [Earnings, Breaking News, Tech, On the Move]
Monday, April 29, 12:10 AM Notable earnings after Monday’s close: ANAD, ANH, BWLD, CBL, CRK, CSE, CYH, DTLK, ESRX, GGP, HIG, HLF, HTZ, IDTI, JEC, MAS, MSTR, NEM, PCL, QGEN, RGR, RJET, RVBD, SBAC, SSW, SU, TXRH, VECO 1 Comment [Earnings]
Sunday, April 28, 5:35 PM Notable earnings after Monday’s close: ANAD, ANH, BWLD, CBL, CRK, CSE, CYH, DTLK, ESRX, GGP, HIG, HLF, HTZ, IDTI, JEC, MAS, MSTR, NEM, PCL, QGEN, RGR, RJET, RVBD, SBAC, SSW, SU, TXRH, VECO 1 Comment [Earnings]
Thursday, April 25, 11:05 AM Light FQ3 guidance isn't stopping F5 (FFIV +5%) from rallying in the wake of its FQ2 report; expectations were depressed thanks to the April 4 warning. On F5's earnings call, management insisted enterprise demand is healthy ahead of a mid-range application delivery controller (ADC) refresh and an update to F5's TMOS OS, even as U.S. telco and federal demand remains weak. Strong momentum was also claimed for F5's firewall and 4G infrastructure offerings. Nomura has upgraded shares to Buy, arguing "the market may be overstating the competitive risks to F5" from Citrix (CTXS - previous). Up in sympathy: RDWR +4%. RVBD +4.8%. Comment! [Tech, Earnings, On the Move]
Tuesday, April 23, 7:56 PM Telecom equipment and optical component makers fall in AH trading in response to Juniper's revenue miss and light Q2 guidance, and (in what's arguably the bigger news) AT&T's $2B/year capex budget cuts for 2014 and 2015. CSCO -1.8% AH. CIEN -2.5%. RVBD -1.4%. JDSU -3.4%. FNSR -1.3%. TLAB -1.6%. Many of these companies had surged last November when AT&T set lofty 2014/2015 capex targets. Other names that could fall tomorrow: INFN. FN. OPLK. CALX. ADTN. 1 Comment [Tech, On the Move]
Tuesday, April 23, 10:06 AM Riverbed (RVBD +1.5%) names co-founder David Wu its new CTO; he replaces Steve McCane, who resigned from the position (as well as from Riverbed's board) in February. Riverbed notes Wu helped develop the architecture for its bread-and-butter Steelhead WAN optimization hardware line, and also calls him "the innovator behind" Riverbed's new Granite appliance, which enables data consolidation and improves storage performance for remote offices. (PR) Comment! [Tech]
Thursday, April 4, 4:38 PM F5 (FFIV) resumes trading and is currently at $75.85, down 16.1% AH in response to its FQ2 warning, which (in the wake of Oracle's results) is bound to heighten concerns about U.S./European enterprise IT demand. Rivals and peers are off in sympathy: CSCO -2.3%. RVBD -3.7% CTXS -3.7%. JNPR -5.1%. VMW -2.2%. EMC -0.9%. RHT -1.7%. Comment! [Tech, On the Move]
Wednesday, March 27, 4:26 PM Much like they did last week following Oracle's FQ3 miss, some enterprise IT names are selling off AH following Red Hat's FQ4 revenue miss, which was accompanied by slowing deferred revenue growth. CTXS -2%. VMW -1.9%. FFIV -1.1%. RVBD -2.1%. Comment! [Tech, On the Move]

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