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

WLFC

Willis Lease

$26.66

0.05 (0.19%)

18:59
01/19/18
01/19
18:59
01/19/18
18:59
Hot Stocks
Willis Lease announces $1,000 bonus for employees »

Willis Lease announced…

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

DPS

Dr Pepper Snapple

$96.35

1.03 (1.08%)

18:13
01/19/18
01/19
18:13
01/19/18
18:13
Hot Stocks
Dr Pepper to become official sponsor of esports team TSM »

Dr Pepper announced it is…

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

RCII

Rent-A-Center

$11.70

0.09 (0.78%)

17:53
01/19/18
01/19
17:53
01/19/18
17:53
Hot Stocks
Vintage Capital in standstill pact with Rent-A-Center »

On January 17, Vintage…

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

AR

Antero Resources

$18.74

-0.59 (-3.05%)

17:44
01/19/18
01/19
17:44
01/19/18
17:44
Recommendations
Antero Resources analyst commentary at MUFG »

Antero Resources price…

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

T

AT&T

$37.21

0.06 (0.16%)

, TWX

Time Warner

$93.36

0.39 (0.42%)

17:44
01/19/18
01/19
17:44
01/19/18
17:44
Periodicals
AT&T requesting docs from companies in Time Warner deal hearing, Reuters says »

AT&T (T) is…

T

AT&T

$37.21

0.06 (0.16%)

TWX

Time Warner

$93.36

0.39 (0.42%)

VZ

Verizon

$51.91

0.36 (0.70%)

CMCSA

Comcast

$42.50

0.65 (1.55%)

CMCSK

Comcast

DISH

Dish

$45.26

0.1 (0.22%)

CHTR

Charter

$366.05

0.8 (0.22%)

DIS

Disney

$110.59

0.17 (0.15%)

VIA

Viacom

$39.20

-0.5 (-1.26%)

VIAB

Viacom

$33.36

-0.59 (-1.74%)

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

    Jan

  • 24

    Jan

  • 24

    Jan

  • 31

    Jan

  • 02

    Feb

  • 06

    Feb

  • 08

    Feb

  • 08

    Feb

GRPN

Groupon

$5.57

0.46 (9.00%)

17:44
01/19/18
01/19
17:44
01/19/18
17:44
Hot Stocks
Groupon announces Chief Product Officer Jay Sullivan resigns »

On January 17, Jay…

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

CELG

Celgene

$102.65

0.93 (0.91%)

17:41
01/19/18
01/19
17:41
01/19/18
17:41
Hot Stocks
Celgene's Abraxane exceeds primary endpoint target in pancreatic cancer trial »

Celgene announced primary…

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

  • 25

    Jan

  • 25

    Jan

  • 16

    Feb

  • 25

    Mar

VALU

Value Line

$19.60

0.3 (1.55%)

17:40
01/19/18
01/19
17:40
01/19/18
17:40
Hot Stocks
Value Line reaffirms $3M stock repurchase program »

The Board of Directors…

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

VALU

Value Line

$19.60

0.3 (1.55%)

17:39
01/19/18
01/19
17:39
01/19/18
17:39
Hot Stocks
Value Line declares special dividend of 20c per share »

Payable on March 9 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

ZEAL

Zealand Pharma

$15.05

-0.78 (-4.93%)

17:34
01/19/18
01/19
17:34
01/19/18
17:34
Hot Stocks
Zealand Pharma: FDA approves IND for Phase 3 trials of dasiglucagon in CHI »

The U.S. FDA has approved…

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

GNMSF

Genmab

$190.75

2.75 (1.46%)

, JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

17:29
01/19/18
01/19
17:29
01/19/18
17:29
Hot Stocks
Genmab says FDA grants priority review for daratumumab »

Genmab (GNMSF) announced…

GNMSF

Genmab

$190.75

2.75 (1.46%)

JNJ

Johnson & Johnson

$147.36

0.44 (0.30%)

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

  • 19

    Jan

  • 23

    Jan

  • 16

    Feb

  • 08

    Mar

HII

Huntington Ingalls

$242.12

5.24 (2.21%)

17:21
01/19/18
01/19
17:21
01/19/18
17:21
Hot Stocks
Huntington Ingalls awarded $125.2M government contract modification »

Huntington Ingalls Inc. -…

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

  • 15

    Feb

  • 21

    Feb

BAESY

BAE Systems

$33.30

0.18 (0.54%)

, GD

General Dynamics

$209.10

1.3 (0.63%)

17:20
01/19/18
01/19
17:20
01/19/18
17:20
Hot Stocks
BAE Systems, General Dynamics awarded $237.6M government contract modification »

BAE Systems (BAESY) San…

BAESY

BAE Systems

$33.30

0.18 (0.54%)

GD

General Dynamics

$209.10

1.3 (0.63%)

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

  • 24

    Jan

SYRS

Syros Pharmaceuticals

$10.80

0.27 (2.56%)

17:17
01/19/18
01/19
17:17
01/19/18
17:17
Syndicate
Breaking Syndicate news story on Syros Pharmaceuticals »

Syros Pharmaceuticals…

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

WTFC

Wintrust Financial

$87.81

0.96 (1.11%)

17:13
01/19/18
01/19
17:13
01/19/18
17:13
Hot Stocks
Wintrust Financial raises its minimum wage to $15 per hour »

Wintrust Financial…

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

    Jan

TWTR

Twitter

$23.66

-0.38 (-1.58%)

17:07
01/19/18
01/19
17:07
01/19/18
17:07
Hot Stocks
Twitter says has identified more IRA and automated Russia-based accounts »

In a statement on its…

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

    Jan

  • 07

    Feb

  • 08

    Feb

  • 28

    Feb

ITEK

Inotek Pharmaceuticals

17:04
01/19/18
01/19
17:04
01/19/18
17:04
Hot Stocks
Boxer Capital reports 5.3% passive stake in Rocket Pharmaceuticals »

In a regulatory filing,…

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

OIS

Oil States

$32.80

0.35 (1.08%)

17:03
01/19/18
01/19
17:03
01/19/18
17:03
Syndicate
Breaking Syndicate news story on Oil States »

Oil States files to sell…

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

AVGO

Broadcom

$266.39

-3.41 (-1.26%)

, QCOM

Qualcomm

$68.04

-0.01 (-0.01%)

16:43
01/19/18
01/19
16:43
01/19/18
16:43
Hot Stocks
Broadcom receives second request from FTC for proposed Qualcomm deal »

Broadcom (AVGO) announced…

AVGO

Broadcom

$266.39

-3.41 (-1.26%)

QCOM

Qualcomm

$68.04

-0.01 (-0.01%)

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

    Mar

TRNC

tronc

$19.53

0.3 (1.56%)

16:37
01/19/18
01/19
16:37
01/19/18
16:37
Periodicals
LA Times' CEO Ross Levinsohn to take leave of absence amid probe, WSJ says »

Ross Levinsohn, the…

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

AP

Ampco-Pittsburgh

$14.20

0.15 (1.07%)

16:35
01/19/18
01/19
16:35
01/19/18
16:35
Syndicate
Breaking Syndicate news story on Ampco-Pittsburgh »

Ampco-Pittsburgh files 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

  • 29

    Mar

CG

Carlyle Group

$24.35

-0.05 (-0.20%)

, UBSH

Union Bankshares

$38.79

0.54 (1.41%)

16:33
01/19/18
01/19
16:33
01/19/18
16:33
Hot Stocks
Carlyle Group reports 6% passive stake in Union Bankshares »

In a regulatory filing,…

CG

Carlyle Group

$24.35

-0.05 (-0.20%)

UBSH

Union Bankshares

$38.79

0.54 (1.41%)

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

    Jan

ANDX

Andeavor Logistics

$52.52

0.12 (0.23%)

16:31
01/19/18
01/19
16:31
01/19/18
16:31
Hot Stocks
Andeavor Logistics raises quarterly cash distribution to $1.00 per unit »

The fourth quarter…

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

  • 16

    Feb

16:30
01/19/18
01/19
16:30
01/19/18
16:30
Options
Preliminary option volume of 22.8M today »

Preliminary option volume…

TRNC

tronc

$19.53

0.3 (1.56%)

16:26
01/19/18
01/19
16:26
01/19/18
16:26
Periodicals
LA Times' CEO Ross Levinsohn to take leave of absence amid probe, DJ says »

Dow Jones added that the…

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.