Breaking News Instant updates and real-time market news.

ANET

Arista Networks

$94.57

6.59 (7.49%)

, CSCO

Cisco

$30.18

0.13 (0.43%)

14:46
11/21/16
11/21
14:46
11/21/16
14:46

Arista Networks jumps after favorable customs ruling

Shares of Arista Networks (ANET) are on the rise after the networking equipment maker received a letter from U.S. Customs and Border Protection saying the company's products containing redesigned extensible operating system, or EOS, are not within the scope of a limited exclusion order issued by U.S. International Trade Commission following Cisco Systems' (CSCO) lawsuits. CUSTOMS RULING: Arista announced in a regulatory filing earlier that it has received a letter from the U.S. Customs and Border Protection ruling that the company's current products which contain its redesigned EOS are not within the scope of the limited exclusion order issued by the U.S. International Trade Commission, or ITC, and therefore may be imported into the U.S. Following Cisco's initial complaint accusing Arista of infringing six patents relating to five different features of EOS, the ITC had determined that the prior versions of EOS contained two features that indeed infringed three patents and issued a limited exclusion order and a cease and desist order that prohibited the latter from importing infringing products. To address these findings, Arista released the redesigned EOS for its products. On August 24, Cisco filed an enforcement action against its competitor asserting that it was violating the limited exclusion order, the filing explained. POSSIBLE IMPORT WINDOW: Commenting on the Customs and Border Protection's ruling, JPMorgan analyst Rod Hall noted that the decision came earlier than he had expected and added that it is "positive news" for the networking equipment maker. Further, the analyst pointed out that this early 944 ruling may open a short window during which Arista can import all products manufactured overseas as well as components associated with them. Nonetheless, Hall noted that the second ITC 945 case ruling, which is a separate ongoing lawsuit also filed by Cisco, has not yet been announced, but is expected by the end of this year. Should the 945 ruling go against the company, the analyst would expect a similar timeline to the 944, with products again being banned for import for some period of time until a workaround is approved by Customs, he contended. He reiterated a Neutral rating on Arista's shares. Following the ruling, JMP Securities analyst Erik Suppiger told investors in a research note of his own that he believes the decision will remove a "significant overhang" from the stock, and will allow Arista to re-engage with component suppliers outside of the U.S. for shipments to the country, helping to reduce supply constraints and fill excess demand created over the last couple quarters. Moreover, the analyst noted that a positive ruling from the Customs and Border Protection should reduce friction in the sales process for Arista. Suppiger increased his price target on Arista's shares to $115 from $87. PRICE ACTION: In afternoon trading, shares of Arista have gained more than 7% to $94.29.

ANET

Arista Networks

$94.57

6.59 (7.49%)

CSCO

Cisco

$30.18

0.13 (0.43%)

  • 28

    Nov

  • 29

    Nov

  • 08

    Dec

  • 12

    Dec

  • 12

    Dec

  • 12

    Dec

ANET Arista Networks
$94.57

6.59 (7.49%)

10/25/16
ARGS
10/25/16
INITIATION
Target $107
ARGS
Buy
Arista Networks initiated with a Buy at Argus
Argus analysts Jim Kelleher and Mike Jaffe initiated Arista Networks with a Buy and a $107 price target. They said Arista continues to benefit from the multiyear shift to cloud networking from legacy IT silos and the shares discount appears excessive based on our growth projections.
10/31/16
NEED
10/31/16
NO CHANGE
Target $110
NEED
Buy
Arista Networks price target raised to $110 from $105 at Needham
Needham analyst Alex Henderson raised his price target for Arista Networks (ANET) to $110 from $105, saying the "strong growth" from Amazon (AMZN) Web Services and Microsoft's (MSFT) Azure are "strongly suggestive" of robust demand for Arista gear in the Web 2.0 space. The analyst reiterates a Buy rating on Arista Networks' shares.
11/18/16
STFL
11/18/16
INITIATION
STFL
Buy
Arista Networks coverage resumed with a Buy at Stifel
Stifel analyst Aaron Rakers resumed coverage of Arista with a Buy rating. The analyst believes that the company is well-positioned to benefit from "disruptive architectural shifts" in the concentrated networking market. He also expects the company to expand its routing business. Target $102.
11/21/16
JMPS
11/21/16
NO CHANGE
Target $115
JMPS
Arista Networks price target raised to $115 from $87 at JMP Securities
CSCO Cisco
$30.18

0.13 (0.43%)

11/17/16
OPCO
11/17/16
NO CHANGE
Target $34
OPCO
Outperform
Cisco disappointing guidance reflects product portfolio issues, says Oppenheimer
Oppenheimer analyst Ittai Kidron notes that Cisco reported in-line results, but its guidance was soft, with cautious commentary highlighting emerging market and service provider headwinds and a general hesitation to spend. The analyst believes the disappointing guidance also reflects several product portfolio issues that need to be addressed. Nonetheless, he says the company continues to demonstrate superior execution and is doing well repositioning around cloud/recurring revenue. Kidron remains positive long term on this shift, and reiterates an Outperform rating and $34 price target on the shares.
11/17/16
FBCO
11/17/16
NO CHANGE
Target $25
FBCO
Underperform
Cisco has limited upside from here, says Credit Suisse
Credit Suisse analyst Kulbinder Garcha sees limited upside from here for Cisco shares and maintains his Underperform rating and $25 price target. The analyst said Cisco continues to struggle to grow its switching business and fears it faces increasing pressures, as the company continues to lose market share in the datacenter switching segment. Further, Garcha believes Cisco is running out of levers to offset switching declines and is concerned margins may have peaked, despite restructuring efforts.
11/18/16
STFL
11/18/16
INITIATION
STFL
Hold
Cisco coverage resumed with a Hold at Stifel
Stifel analyst Aaron Rakers resumed coverage of Cisco with a Hold rating, saying that he thinks that the stock is nearing its fair value. Target $34.
11/18/16
11/18/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Cisco (CSCO) coverage resumed with a Hold at Stifel. 2. UPS (UPS) was initiated with an Outperform at BMO Capital while the firm initiated FedEx (FDX) with a Market Perform. 3. Synchrony (SYF) was initiated with an Overweight at Stephens. The firm also initiated American Express (AXP) and Discover (DFS) with an Underweight. 4. American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV) and Allegiant Travel (ALGT) were initiated with a Buy at Citi while the firm initiated JetBlue (JBLU), United Continental (UAL), Alaska Air (ALK), and Hawaiian Holdings (HA) with a Neutral. 5. Juniper (JNPR) coverage resumed at Stifel. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

BMS

Bemis

$44.90

-0.28 (-0.62%)

20:30
06/22/17
06/22
20:30
06/22/17
20:30
Upgrade
Bemis rating change  »

Bemis upgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ATUS

Altice USA

20:29
06/22/17
06/22
20:29
06/22/17
20:29
Initiation
Altice USA initiated  »

Altice USA initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

BBRY

BlackBerry

$11.06

0.41 (3.85%)

, FINL

Finish Line

$12.73

0.23 (1.84%)

20:25
06/22/17
06/22
20:25
06/22/17
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

BBRY

BlackBerry

$11.06

0.41 (3.85%)

FINL

Finish Line

$12.73

0.23 (1.84%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 23

    Jun

  • 23

    Jun

NBRV

Nabriva Therapeutics

$10.50

1.19 (12.78%)

20:22
06/22/17
06/22
20:22
06/22/17
20:22
Initiation
Nabriva Therapeutics initiated  »

Nabriva Therapeutics…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 06

    Jul

WIX

Wix.com

$72.80

0.5 (0.69%)

20:20
06/22/17
06/22
20:20
06/22/17
20:20
Initiation
Wix.com initiated  »

Wix.com initiated with an…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Jun

OCLR

Oclaro

$9.44

-0.1 (-1.05%)

20:19
06/22/17
06/22
20:19
06/22/17
20:19
Initiation
Oclaro initiated  »

Oclaro initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

ACIA

Acacia Communications

$41.64

0.65 (1.59%)

20:19
06/22/17
06/22
20:19
06/22/17
20:19
Initiation
Acacia Communications initiated  »

Acacia Communications…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

LITE

Lumentum

$62.45

-0.05 (-0.08%)

20:19
06/22/17
06/22
20:19
06/22/17
20:19
Initiation
Lumentum initiated  »

Lumentum initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 22

    Jun

  • 26

    Jun

LEJU

Leju

$2.46

0.07 (2.93%)

20:05
06/22/17
06/22
20:05
06/22/17
20:05
Downgrade
Leju rating change  »

Leju downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GCP

GCP Applied Technologies

$30.40

0.3 (1.00%)

20:04
06/22/17
06/22
20:04
06/22/17
20:04
Upgrade
GCP Applied Technologies rating change  »

GCP Applied Technologies…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

PHM

PulteGroup

$24.04

-0.24 (-0.99%)

19:58
06/22/17
06/22
19:58
06/22/17
19:58
Initiation
PulteGroup initiated  »

PulteGroup initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

DHI

D.R. Horton

$33.47

-0.5 (-1.47%)

19:58
06/22/17
06/22
19:58
06/22/17
19:58
Initiation
D.R. Horton initiated  »

D.R. Horton initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

CAA

CalAtlantic

$34.80

-0.34 (-0.97%)

19:57
06/22/17
06/22
19:57
06/22/17
19:57
Initiation
CalAtlantic initiated  »

CalAtlantic initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

BZH

Beazer Homes

$13.01

0.03 (0.23%)

19:57
06/22/17
06/22
19:57
06/22/17
19:57
Initiation
Beazer Homes initiated  »

Beazer Homes initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MTH

Meritage Homes

$40.40

-0.4 (-0.98%)

19:57
06/22/17
06/22
19:57
06/22/17
19:57
Initiation
Meritage Homes initiated  »

Meritage Homes initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

TOL

Toll Brothers

19:57
06/22/17
06/22
19:57
06/22/17
19:57
Initiation
Toll Brothers initiated  »

Toll Brothers initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

LEN

Lennar

$52.41

-0.84 (-1.58%)

19:57
06/22/17
06/22
19:57
06/22/17
19:57
Initiation
Lennar initiated  »

Lennar initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

KBH

KB Home

$22.23

-0.1 (-0.45%)

19:57
06/22/17
06/22
19:57
06/22/17
19:57
Initiation
KB Home initiated  »

KB Home initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Jun

MHK

Mohawk

$242.70

-0.22 (-0.09%)

19:27
06/22/17
06/22
19:27
06/22/17
19:27
Initiation
Mohawk initiated at Credit Suisse »

Mohawk initiated with an…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

FBHS

Fortune Brands

$65.09

0.06 (0.09%)

19:27
06/22/17
06/22
19:27
06/22/17
19:27
Initiation
Fortune Brands initiated at Credit Suisse »

Fortune Brands initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

JELD

JELD-WEN Holding

$34.60

-0.29 (-0.83%)

19:26
06/22/17
06/22
19:26
06/22/17
19:26
Initiation
JELD-WEN Holding initiated at Credit Suisse »

JELD-WEN Holding…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

IBP

Installed Building Products

$52.75

-1 (-1.86%)

19:26
06/22/17
06/22
19:26
06/22/17
19:26
Initiation
Installed Building Products initiated at Credit Suisse »

Installed Building…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

OC

Owens Corning

$66.42

-0.85 (-1.26%)

19:26
06/22/17
06/22
19:26
06/22/17
19:26
Initiation
Owens Corning initiated at Credit Suisse »

Owens Corning initiated…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

WHR

Whirlpool

$195.16

1.35 (0.70%)

19:26
06/22/17
06/22
19:26
06/22/17
19:26
Initiation
Whirlpool initiated at Credit Suisse »

Whirlpool initiated with…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

MAS

Masco

$38.82

0.06 (0.15%)

19:26
06/22/17
06/22
19:26
06/22/17
19:26
Initiation
Masco initiated at Credit Suisse »

Masco initiated with a…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.