While IT budgets are being squeezed, spending on security software and hardware remains strong, Pacific Crest?s Rob Owens
asserted in a research note today. He notes that ?the vast majority? of
companies in the sector met or beat Q1 expectations. And he says checks
on the quarter to date finds ?continued demand for security solutions,?
though he warns of some ?air pockets,? in particular for the small-and
medium-sized business segment and in the U.S. government sector.
In connection with his larger take on the sector, Owens raised his ratings on both Check Point...
It seems to be the day of modest outperformance rewarded with outsized stock gains. Earlier I wrote about CyberSource (CYBS)
rising over 26% on a small beat in earnings Thursday night. Next up is $326
million (market cap) network equipment maker Packeteer (PKTR), rising nearly 11% Friday to $9.06 after reporting better-than-expected earnings Thursday night.
What?s the big deal? Well, nothing very good, it sounds like. Ferris Baker Watts analyst Matthew Robison,
upgrading the stock from Sell to Neutral Friday, is raising his
estimates for the current quarter from a net loss per share of 5 cents
to a net profit of 2 cents....
Traders always ask us which stocks react the most to earnings reports because they like to use various strategies to trade the volatility. From our 3rd Quarter Earnings Calendar, we sorted our list by stocks that are the most volatile on the first trading day following their earnings reports.
Below we highlight these stocks and include other information for their upcoming reports. ISRG is expected to report on the 18th, and as shown, the stock has an average absolute change of 18.6% on...
Lon Juricic submits: In a 13D filing on Packeteer, Inc. (Nasdaq: PKTR), Robert Chapman's Chapman Capital disclosed a 9.9% stake in the company, and demanded the company hire an investment bank to maximize shareholder value. Chapman noted that attempts to communicate with top executives were unsuccessful.
From the filing:
On July 30, 2007, Mr. Robert L. Chapman, Jr. attempted to contact the Issuer's Chief Executive Officer, Mr. David G. Cote, to inform him of the Reporting Persons a) having become the owners collectively of 9.9% of the Issuer's Common...
Elliott Management Corporation manages the Elliott Associates, L.P. hedge fund and its offshore equivalent the Elliott International, LTD hedge fund. The firm uses an opportunistic approach and invests in different types of vehicles depending on market conditions including common and preferred stocks.
The firm tends to focus on distressed opportunities in industrial stocks, real estate, emerging markets debt, and private placement convertibles. The firm often takes an active role in its investments, seeking to unlock shareholder value. Elliott uses relatively little leverage.
On May 24, Elliott Associates disclosed a 6.3% stake in Packeteer (PKTR) in a SC 13D filing. Elliott believes...
Inventing Money submits: Extreme Networks (EXTR) pre-announced a revenue miss last night after the close. Company blamed weakness in U.S and Japan for the miss.
Like I said few days back, I would stay away from EXTR. The company has been in internal ups and downs, and from what I can gather it is not smooth sailing yet. I believe the weakness in U.S. and Japan was due to these internal issues -- not due to any broad market weakness.
Private investment partnership Elliott Associates LP Monday said it has terminated its offer to purchase bandwidth management systems provider Packeteer Inc. Elliott also said Blue Coat Systems Inc. will acquire Packeteer for $7.10 a share in cash. Blue Coat also has agreed to purchase Elliott's shares in Packeteer for $7.10 per share, Elliott said. In connection with the Packeteer acquisition, Blue Coat has agreed to issue zero coupon convertible notes of $40 million to an affiliate of Elliott and an additional $40 million in notes to Francisco Partners II LP. Blue Coat will use the proceeds from the...
Blue Coat Systems Inc. will acquire Packeteer Inc. for about $268 million in cash, a deal uniting two suppliers of software used to improve the performance of large corporate networks. Terms call for Blue Coat to pay $7.10 for each share of Packeteer -- a 15% premium over their Friday closing price.
Blue Coat Systems Inc. (BSCI) signed a definitive agreement to acquire Packeteer Inc. (PKTR) for $268 million, or $7.10 a share, and also agreed to issue $80 million of zero coupon convertible notes in a private placement to Francisco Partners II LP, an associate of Elliot Associates LP. The Sunnyvale, Calif., Internet security service provider expects the acquisition of Packeteer, a Cupertino, Calif., network traffic prioritization technology provider, to add to non-GAAP earnings in the second full quarter of combined operations. Blue Coat said it will use the proceeds from the private placement of convertible notes due 2013 to partially...
Among the companies whose shares are expected to see active trade in Wednesday's session are Aflac, Amdocs, Best Buy, CarMax, Dillard's, Genta, IDT, Immucor, Lululemon, Medarex, Monsanto, Nordic American Tanker Shipping, Packeteer, Rex Stores and Walgreen.
SAN FRANCISCO (MarketWatch) -- Among the companies whose shares are expected to see active trade in Wednesday's session are Research In Motion, Micron Technology, and Best Buy.
Stocks 
Hickey and Walters (
