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CSCO

Cisco

$32.09

0.25 (0.79%)

, ANET

Arista Networks

$174.47

3.88 (2.27%)

13:21
08/16/17
08/16
13:21
08/16/17
13:21

On The Fly: What to watch for in Cisco's earnings report

Cisco (CSCO) is scheduled to report results of its fiscal fourth quarter after the market close on Wednesday, August 16, with a conference call scheduled for 4:30 pm ET. What to watch for: 1. EPS, REVENUE CONSENSUS DOWN A TICK: Along with its last report, Cisco guided for Q4 earnings per share in the range of 60c-62c on revenue growth of (6%)-(4%). At the time, analysts were expecting the company to report Q4 EPS of 62c on revenue of $12.51B, but those figures have since fallen to 61c and $12.07B, respectively. 2. PRETAX CHARGES: Also in its last report, Cisco said that, in May 2017, it extended its restructuring plan to include an additional 1,100 employees with $150M of estimated additional pretax charges. The company said at the time that it anticipates recognizing roughly $150M-$200M of pretax charges under this plan in Q4. Cisco noted at the time that it sees the plan being substantially completed by the end of the first quarter of fiscal 2018. 3. ARISTA ITC CASE: Continuing a long dispute, Arista Networks (ANET) said on June 21 that the Administrative Law Judge at the International Trade Commission has issued a favorable initial determination in the ITC enforcement proceeding brought by Cisco Systems against Arista. Two weeks later, Arista said that, following the completion of the Presidential review period for the ITC investigation, the limited exclusion order and cease and desist order are now in full effect, and Arista is barred from importing and selling infringing covered products in the United States. In late July, Bloomberg reported that Arista had lost its bid to prevent the import ban in the Cisco case. 4. BROADENING SUPPORT FOR APPLE DEVICES: In early June, Rowan Trollope, senior VP and General Manager of Cisco's Internet of Things and Collaboration Technology Group, said that the company was broadening support for optimized Apple (AAPL) devices on Cisco networks. A few weeks later, Cisco said in another blog post that the company was currently developing the Cisco Security Connector app for iPhone and iPad in the enterprise.

CSCO

Cisco

$32.09

0.25 (0.79%)

ANET

Arista Networks

$174.47

3.88 (2.27%)

AAPL

Apple

$161.60

1.75 (1.09%)

  • 16

    Aug

  • 16

    Aug

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    Aug

  • 17

    Aug

  • 23

    Aug

CSCO Cisco
$32.09

0.25 (0.79%)

06/26/17
ARGS
06/26/17
NO CHANGE
ARGS
Cisco intent-based network a potential game changer, says Argus
Argus analyst Jim Kelleher calls Cisco's intent-based networking solution "a potential game changer," although he says it's "early days" for the product. The analyst says that IBNS is currently designed for enterprise networks but could be expanded to carrier networks. He keeps a Buy rating on Cisco.
06/15/17
LEHM
06/15/17
NO CHANGE
Target $185
LEHM
Overweight
Arista Networks price target raised to $185 from $161 at Barclays
Barclays analyst Mark Moskowitz raised his price target for Arista Networks (ANET) to $185 citing "fading" litigation risk, improving gross margin and the potential for revenue upside related to the HP Enterprise (HPE) partnership. The analyst believes long-term investors may be taking a fresh look at the shares following the recent favorable ruling from the Patent and Trial Board against Cisco Systems (CSCO). He keeps an Overweight rating on Arista.
06/13/17
DBAB
06/13/17
NO CHANGE
Target $40
DBAB
Buy
Cisco upcoming analyst day a positive catalyst, says Deutsche Bank
Deutsche Bank analyst Vijay Bhagavath views Cisco Systems' analyst day on June 28 as a positive catalyst for the shares. The analyst expects an update to the company's three-to-five year target model and views the stock's current risk/reward as attractive. He reiterates a Buy rating on Cisco with a $40 price target.
06/05/17
NEED
06/05/17
NO CHANGE
Target $50
NEED
Buy
Gigamon worth $50-$55 per share to acquirer, says Needham
After Reuters reported that Gigamon (GIMO) has responded to Elliot Management's urging and has undertaken an active review of its options, including a potential sale, Needham analyst Alex Henderson estimated that a fair value for Gigamon is in the $50-$55 range. Henderson - who lists Cisco (CSCO), Juniper (JNPR), F5 (FFIV), HP (HPE), Dell/EMC (EMC), Palo Alto (PANW), and Fortinet (FTNT) among the companies that he thinks could be interested - said he would not be surprised to see Gigamon attract multiple suitors. He raised his price target on Gigamon to $50 from $34 and keeps a Buy rating on the stock.
ANET Arista Networks
$174.47

3.88 (2.27%)

08/04/17
BMOC
08/04/17
NO CHANGE
BMOC
Arista Networks price target raised to $190 from $167 at BMO Capital
BMO Capital analyst Tim Long raised his price target on Arista after the company reported stronger than expected results and provided guidance that beat expectations. Long says that the company's momentum remains strong, and he expects its data center share to rise going forward. He keeps an Outperform rating on the stock.
08/04/17
SBSH
08/04/17
NO CHANGE
Target $180
SBSH
Buy
Arista Networks price target raised to $180 from $165 at Citi
Citi analyst Stanley Kovler raised his price target for Arista Networks to $180 saying "significant" product revenue and gross upside drove the better than expected Q2 results. The analyst keeps a Buy rating on the shares.
08/04/17
08/04/17
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. GoPro (GPRO) was upgraded to Neutral from Underperform at Longbow and to Market Perform from Underperform at Raymond James. 2. Yelp (YELP) was upgraded to Buy from Neutral at MKM Partners and to Neutral from Sell at Roth Capital. 3. Synaptics (SYNA) upgraded to Buy from Hold at Craig-Hallum with analyst Anthony Stoss saying he expects to see substantial TDDI volume increases in fiscal 2018 and believes its optical fingerprint sensor should be a strong growth driver. 4. Activision Blizzard (ATVI) upgraded to Buy from Neutral at BofA/Merrill with analyst Justin Post citing the solid second quarter beat on strong digital content. 5. Arista Networks (ANET) was upgraded to Overweight from Neutral at JPMorgan and to Outperform from Market Perform at William Blair. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/07/17
ARGS
08/07/17
NO CHANGE
ARGS
Arista Networks price target raised to $200 from $162 at Argus
Argus analyst Jim Kelleher increased his price target on Arista after the company reported results which he called "blow-out." The analyst adds that the company's Q3 guidance was "strong," and he notes that earnings estimates for it are rising faster than its stock price. He keeps a Buy rating on the shares.
AAPL Apple
$161.60

1.75 (1.09%)

08/16/17
FBCO
08/16/17
NO CHANGE
Target $175
FBCO
Outperform
Apple removed from Focus List on analyst departure at Credit Suisse
Credit Suisse removed Apple from its Focus List citing the departure of the primary analyst. The firm has an Outperform rating on Apple with a $175 price target.
08/10/17
PIPR
08/10/17
NO CHANGE
Target $68
PIPR
Overweight
Lumentum price target raised to $68 from $58 at Piper Jaffray
Piper Jaffray analyst Troy Jensen raised his price target for Lumentum (LITE) to $68 saying a surge in orders for 3D Sensing VCSELs offset weaker than expected core optics in the June quarter. Jensen believes, based on conversations with industry contacts, that Lumentum captured 75%-100% of initial shipments of both the high and low-power VCSEL into Apple's (AAPL) iPhone 8. The 3D sensing market is a "significant earnings enhancement opportunity" for Lumentum, Jensen writes in a post-earnings research note. He reiterates an Overweight rating on the shares.
08/09/17
08/09/17
NO CHANGE
Target $70

Buy
Lumentum target raised to $70 on better than expected Apple order at Rosenblatt
As previously reported, Rosenblatt analyst Jun Zhang raised the firm's price target on Lumentum to $70 from $66 after the company confirmed its receipt of a $200M 3D sensing order for calendar 2017, believed to be from Apple (AAPL). This order was better than the firm's expectations and the consensus view, said Zhang, who keeps a Buy rating on Lumentum shares.
08/09/17
BNCH
08/09/17
NO CHANGE
BNCH
Buy
CEVA could be pressured by latest in Qualcomm-Apple fight, says Benchmark
Benchmark analyst Gary Mobley noted that Qualcomm (QCOM) announced that the ITC has commenced an investigation into Apple's (AAPL) use of certain mobile devices, radio frequency and processing components" as the companies continue their legal fight over disputed royalties. Intel (INTC) and Qualcomm currently split the iPhone 7 thin modem business and it is expected they'll also evenly split the iPhone 8 business, said Mobley, who noted that CEVA (CEVA) could lose $2M-$2.5M in annual royalties if the Intel-based phones are banned for U.S. import. He keeps a Buy rating on CEVA shares, which are down fractionally in early trading.

TODAY'S FREE FLY STORIES

RIO

Rio Tinto

$47.74

-0.08 (-0.17%)

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OPK

OPKO Health

$6.33

0.32 (5.32%)

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Opko Health call volume above normal and directionally bullish »

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OFIX

Orthofix

$47.73

-0.78 (-1.61%)

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LLEX

Lilis Energy

$3.99

-0.03 (-0.75%)

11:56
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Conference/Events
Lilis Energy management to meet with SunTrust »

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Treasury Action: month- and quarter-end are quickly sneaking up »

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ICFI

ICF International

$50.95

-0.25 (-0.49%)

11:54
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Conference/Events
ICF International management to meet with SunTrust »

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  • 21

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CRZBY

Commerzbank

$13.02

0.28 (2.20%)

, BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

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Periodicals
German government is favoring Commerzbank-BNP Paribas merger, CNBC says »

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CRZBY

Commerzbank

$13.02

0.28 (2.20%)

BNPQY

BNP Paribas

$39.58

-0.14 (-0.35%)

UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

03/08/13
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MRVL

Marvell

$18.03

-0.12 (-0.66%)

11:50
09/21/17
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Options
Put buyers active in Marvell as shares tick higher »

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  • 05

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TSLA

Tesla

$373.91

-1.19 (-0.32%)

11:48
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09/21
11:48
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Periodicals
Tesla to stop selling cheapest Model S this weekend, Business Insider says »

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  • 02

    Oct

FANG

Diamondback Energy

$97.32

3.04 (3.22%)

11:45
09/21/17
09/21
11:45
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11:45
Hot Stocks
Diamondback Energy EVP Molnar sells 5,000 shares »

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FINL

Finish Line

$9.43

-0.13 (-1.36%)

11:40
09/21/17
09/21
11:40
09/21/17
11:40
Options
Large spread in Finish Line ahead of earnings »

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Oil Action: NYMEX crude »

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SQ

Square

$28.24

-0.23 (-0.81%)

, INTC

Intel

$37.07

-0.16 (-0.43%)

11:32
09/21/17
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Hot Stocks
Square names Intel's Naveen Rao to board »

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SQ

Square

$28.24

-0.23 (-0.81%)

INTC

Intel

$37.07

-0.16 (-0.43%)

03/08/13
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03/06/13
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  • 21

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WASH

Washington Trust

$53.05

0.15 (0.28%)

11:31
09/21/17
09/21
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Hot Stocks
Washington Trust increases quarterly dividend by 1c »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

, CRZBY

Commerzbank

$13.02

0.28 (2.20%)

11:30
09/21/17
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11:30
Periodicals
UniCredit expresses interest in Commerzbank merger, Reuters reports »

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UNCFF

UniCredit

$21.15

-0.14 (-0.66%)

CRZBY

Commerzbank

$13.02

0.28 (2.20%)

03/08/13
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03/06/13
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OIH

Oil Services Holders Trust

$24.86

-0.33 (-1.31%)

11:30
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Short-term call buyers drilling for profits in Market Vectors Oil Services Fund »

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ICPT

Intercept

$98.12

1.92 (2.00%)

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SHOR

ShoreTel

11:25
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Breaking Hot Stocks news story on ShoreTel »

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EFX

Equifax

$97.46

1.46 (1.52%)

11:25
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Equifax CEO to testify to Senate panel on October 4, Bloomberg says »

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  • 22

    Oct

FSLR

First Solar

$48.85

-0.01 (-0.02%)

, SPWR

SunPower

$7.86

-0.51 (-6.09%)

11:24
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Before the Move: Watch First Solar, others ahead of ITC decision »

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FSLR

First Solar

$48.85

-0.01 (-0.02%)

SPWR

SunPower

$7.86

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CSIQ

Canadian Solar

$16.02

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JKS

JinkoSolar

$26.13

-0.16 (-0.61%)

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GLNG

Golar LNG

$21.15

0.66 (3.22%)

11:20
09/21/17
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11:20
Options
Golar LNG calls active as shares see relative strength »

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$NSD

NASDAQ Market Internals

11:17
09/21/17
09/21
11:17
09/21/17
11:17
Technical Analysis
NASDAQ market internals summary »

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$NYE

NYSE Market Internals

11:16
09/21/17
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11:16
09/21/17
11:16
Technical Analysis
NYSE market internals summary »

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COF

Capital One

$81.16

-0.64 (-0.78%)

11:15
09/21/17
09/21
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Options
Capital One put volume heavy and directionally bearish »

Bearish flow noted in…

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General news
Treasury announced an $88 B 3-pronged package of coupon auctions »

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