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ANET

Arista Networks

$267.22

9.93 (3.86%)

, CSCO

Cisco

$42.99

0.16 (0.37%)

12:09
08/06/18
08/06
12:09
08/06/18
12:09

Arista to pay Cisco $400M to resolve all pending litigation

Arista Networks disclosed that it entered into a binding term sheet with Cisco Systems (CSCO) which, upon execution of a final agreement, will result in the dismissal of all pending district court and International Trade Commission litigation between the parties. Under the binding term sheet, Arista will pay Cisco $400M by August 20. Cisco will grant the company a release for all claims of infringement with respect to the patent infringement allegations against the company in the pending litigation. Arista will grant Cisco a release from all past antitrust claims. These mutual releases will extend to the company's and Cisco's customers, contract manufacturers, and partners, Arista added. The parties have further agreed to a five-year stand-down period as to any utility patent infringement claims either may have against features currently implemented in the other party's products and services, with some carve-outs for products stemming from acquired companies. The parties further agreed to a three-year dispute resolution process for allegations by either party against new and/or modified features in the other party's products. Arista also agreed to make certain modifications to its Command Line Interface. In light of the binding term sheet, the parties are planning to seek a continuance and/or stay of their jury trial, which is set to commence today.

ANET

Arista Networks

$267.22

9.93 (3.86%)

CSCO

Cisco

$42.99

0.16 (0.37%)

  • 07

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    Sep

ANET Arista Networks
$267.22

9.93 (3.86%)

08/06/18
MSCO
08/06/18
NO CHANGE
MSCO
Boeing, Tesla, Nvidia make Morgan Stanley 'key man risk' list
Morgan Stanley equity strategist Mark Savino noted that about 12% of CEO jobs among S&P 500 companies turned over in 2017, noting that this was the highest level of CEO departures since before the financial crisis. The 59 stocks of S&P 500 companies that had CEOs depart in 2017 underperformed the market by 11% over the next 12 months, or since the departure for instances that were less than 12 months ago, noted Savino. In cooperation with the firm's U.S. analysts, Savino and his team identified the companies in each sector they believe face the greatest level of "key man risk," which includes: Boeing (BA), Tesla (TSLA), ADT Inc. (ADT), Moody's (MCO), TransUnion (TRU), Arista Networks (ANET), Church & Dwight (CHD), Coca-Cola (KO), Monster Beverage (MNST), Coupa Software (COUP), Salesforce (CRM), FireEye (FEYE), MongoDB (MDB), Microsoft (MSFT), New Relic (NEWR), XPO Logistics (XPO), Hilton (HLT), Las Vegas Sands (LVS), Best Buy (BBY), Ulta (ULTA), Aflac (AFL), Athene Holding (ATH), Lincoln National (LNC), Arthur J. Gallagher (AJG), Chubb (CB), Amazon.com (AMZN), Activision Blizzard (ATVI), Facebook (FB), Alphabet (GOOGL), Apple (AAPL), Terex (TEX), Cleveland-Cliffs (CLF), Freeport McMoRan (FCX), FleetCor (FLT), Global Payments (GPN), Square (SQ), Jazz Pharmaceuticals (JAZZ), Cheesecake Factory (CAKE), Broadcom (AVGO), Nvidia (NVDA), Chegg (CHGG), DXC Technology (DXC), Medidata (MDSO), Pluralsight (PS), RealPage (RP), Shopify (SHOP) and T-Mobile (TMUS).
08/06/18
ARGS
08/06/18
NO CHANGE
Target $320
ARGS
Buy
Arista Networks price target raised to $320 from $280 at Argus
Argus analyst Jim Kelleher raised his price target on Arista Networks to $320 and kept his Buy rating despite the 4% decline in the stock price late last week following its Q2 results, saying any weakness related to "cautious" guidance is an opportunity to add to positions. The analyst notes that the company has a history of guiding conservatively and then beating "soundly", as it is "permanently" positioned to disrupt the network space with its cloud solutions. Kelleher further cites Arista's "global momentum" in sales to market leaders across multiple verticals, "including cloud titans, cloud specialty service providers, and tier one telcos."
08/03/18
SBSH
08/03/18
NO CHANGE
Target $300
SBSH
Buy
Arista Networks call confusion brings buying opportunity, says Citi
Citi analyst Jim Suva believes confusion on Arista Networks' conference call presents a buying opportunity. The company reaffirmed its outlook and did not imply a reduction that was confused by the announced Mojo Networks acquisition, Suva tells investors in a research note. He sees any stock pullback as an "aggressive opportunity" for investors and reiterates a Buy rating on Arista Networks with a $300 price target.
08/03/18
LOOP
08/03/18
NO CHANGE
Target $260
LOOP
Hold
Arista Networks price target raised to $260 from $250 at Loop Capital
Loop Capital analyst James Kisner raised his price target on Arista Networks to $260 after its Q2 earnings beat and in-line Q3 guidance, saying the company has a "high level of differentiation and growth opportunities". The analyst also cites the 300bps beat in operating margin on the strength of its Cloud Titans vertical, but keeps his Hold rating due to "expensive" valuation and "volatile" end market demand.
CSCO Cisco
$42.99

0.16 (0.37%)

08/02/18
JPMS
08/02/18
NO CHANGE
JPMS
Overweight
Cisco deal for Duo shouldn't have major impact on Okta, ForeScout, says JPMorgan
After Cisco (CSCO) announced it will acquire privately held Duo Security for $2.35B, JPMorgan analyst Sterling Auty offered his view on the read-through from the deal to Okta (OKTA) and ForeScout (FSCT). Duo Security is best known for its multi-factor authentication, and MFA is only one out of six products that Okta offers, said Auty, who does not see the deal having a major impact on Okta. ForeScout has long competed with Cisco for network access control and the Duo deal does have the potential to bolster Cisco's capabilities in this area, Auty said. However, he does not see this transaction having a meaningful near- or mid-term impact, as he contends that ForeScout has "moved well beyond" its original use case. Auty has Overweight ratings on both Okta and ForeScout.
07/19/18
07/19/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. NEEDHAM CUTS TESLA TO UNDERPERFORM: Needham analyst Rajvindra Gill downgraded Tesla (TSLA) to Underperform from Hold, stating the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. The analyst cited expectations of slower Model S/X sales amid increased competition and possible cannibalization from the Model 3, the expiration of credits, slower gross margins improvement with "persistently high" production costs, lower energy segment revenue after recent restructuring, and Tesla's "unsustainable capital structure." Tesla is down 1.9% in midday trading. CREDIT SUISSE UPGRADES SQUARE: Credit Suisse analyst Paul Condra upgraded Square (SQ) to Outperform from Neutral, saying he believes its growing product eco-system is increasing its ability to penetrate larger merchants. He also said positive data points on Cash-App adoption validate Square's two-sided platform strategy to grow both merchant and consumer use-cases. The analyst also raised his price target on the shares to $81 from $44. MORGAN STANLEY UPS SQUARE TARGET: Morgan Stanley analyst James Faucette sees good potential for upward estimate revisions for Square in the near-term and raised his price target on the stock to $75 from $43. However, Faucette kept an Equal Weight rating on Square, calling its valuation "demanding" and citing his continued view that new services are misvalued. Square is higher by 3.5% at midday. MORGAN STANLEY DOWNGRADES LENDINGCLUB, ON DECK: Morgan Stanley's Faucette downgraded LendingClub (LC) to Equal Weight from Overweight as he thinks the previously disclosed FTC investigation into the company's lending practices will be a drag on new investor interest and involvement in the stock until it is resolved. Faucette lowered his price target on LendingClub shares to $5 from $6. Faucette downgraded On Deck Capital (ONDK) to Underweight from Equal Weight, stating that he sees the company needing a long time to meaningfully scale the "OnDeck-as-a-Service," which he believes will limit the stock's potential for valuation expansion above small-to-mid cap banks. Also, Faucette sees limited upside potential to origination growth estimates given the company's preference for delivering profitability versus growth, he tells investors. PIPER POSITIVE ON CISCO AND ARISTA, CALLS AMAZON FEARS OVERBLOWN: Amazon (AMZN) is not entering the network switching market as speculated on July 13, Piper Jaffray analyst James Fish told investors in a research note. The confirmation by Amazon removes the potential shadow of Amazon on the space. The analyst continued to recommend Cisco (CSCO) and Arista (ANET) as his top networking picks.
07/19/18
PIPR
07/19/18
NO CHANGE
PIPR
Amazon switching fears 'overblown as suspected,' says Piper Jaffray
After yesterday's market close, it was reported and confirmed by Amazon (AMZN) and Cisco Systems (CSCO) that Amazon is not entering the network switching market as speculated on July 13, Piper Jaffray analyst James Fish tells investors in a research note titled "Fake News! Amazon Switching Fears Were Overblown As Suspected." The confirmation by Amazon removes the potential shadow of Amazon on the space, making Q3 earnings more about the fundamentals than "competitive hype," Fish writes. He notes that shares of Cisco, Arista Networks (ANET) and Juniper Networks (JNPR) are higher following the news. The analyst continues to recommend Cisco and Arista as his top networking picks.
07/16/18
07/16/18
NO CHANGE

Fly Intel: Today's top analyst calls on Wall Street
Check out today's top analyst calls from around Wall Street, compiled by The Fly. NETFLIX CUT TO UNDERPERFORM AT BUCKINGHAM: Buckingham analyst Matthew Harrigan downgraded Netflix (NFLX) to Underperform from Neutral ahead of the company's earnings report, as he estimates that the stock's current price implies "optimistic" views of the company reaching 360M global members in 2025 and 505M by 2033 along with a long-term operating profit margin near 35%. UBS NOW FAVORS UPS OVER FEDEX: UBS analyst Thomas Wadewitz upgraded UPS (UPS) to Buy from Neutral and raised his price target for the shares to $125 from $121. The combination of cost and productivity improvements, coupled with a "constructive" revenue backdrop, provide potential for improved Domestic Package margin performance and stronger operating income growth in 2019 for UPS, Wadewitz told investors. The analyst believes the company has "multiple cost side drivers" and that the new Teamsters agreement may also facilitate growth. Wadewitz this morning also downgraded FedEx (FDX) to Neutral from Buy and lowered his price target for the shares to $256 from $283. With a large global Express business representing 55% of revenue and about 13% of revenue linked to Asia, FedEx is exposed to risk from tariffs and potentially slower trade activity, Wadewitz told investors. The analyst sees limited visibility to near term margin expansion as the company is still ramping up integration with TNT in Europe. In midday trading, UPS is up just over 1%, while FedEx is down 1.5%. BMO CUTS HASBRO TO UNDERPERFORM: BMO Capital analyst Gerrick Johnson downgraded Hasbro to Underperform from Market Perform and lowered his price target to $75 from $80. The analyst noted that the liquidation of Toys R US may be "more impactful than investors realize" after the initial 9% rally in the stock price on "relief that things were not worse", even as retailers are becoming more selective in the "pantry loading" inventory restocking process. JPMORGAN SEES LOW THREAT FROM AMAZON TO NETWORK EQUIPMENT STOCKS: JPMorgan analyst Samik Chatterjee told investors in a research note that he believes the threat of Amazon (AMZN) entering into the networking equipment market is "relatively low" for networking equipment stocks including Arista Networks (ANET), Cisco Systems (CSCO), and Juniper Networks (JNPR), contending that AWS' switching product will target data center capital spending from large enterprise customers, which is only a $2.5B opportunity relative to the $12B data center switching and $16B campus switching market.

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IFF

International Flavors

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Qorvo

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ATI

Allegheny Technologies

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0.065 (0.25%)

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Internap

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DRI

Darden

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-1.79 (-1.62%)

, CAG

Conagra Brands

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HYMTF

Hyundai Motor

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CVBF

CVB Financial

$21.12

-0.53 (-2.45%)

19:45
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CVB Financial raises quarterly dividend to 18c from 14c per share »

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KAMN

Kaman

$57.84

0.345 (0.60%)

19:24
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Kaman exploring sale of distribution segment, Bloomberg says »

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VALE

Vale

$13.49

-0.21 (-1.53%)

19:19
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Vale suspends operations at Alegria mine in Mariana complex on preventive basis »

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EQH

AXA Equitable

$20.84

-0.565 (-2.64%)

19:12
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AXA Equitable 40M share Secondary priced at $20.50 »

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OTTW

Ottawa Bancorp

$13.56

-0.14 (-1.02%)

19:02
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JAZZ

Jazz Pharmaceuticals

$133.73

-1.74 (-1.28%)

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Jazz Pharmaceuticals' Sunosi for excessive daytime sleepiness approved by FDA »

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AYI

Acuity Brands

$123.00

-5.53 (-4.30%)

18:52
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  • 03

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HYAC

Haymaker Acquisition

$11.79

(0.00%)

, OSW

OneSpaWorld

$0.00

(0.00%)

18:47
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OneSpaWorld says will start trading on Nasdaq March 21 »

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HYAC

Haymaker Acquisition

$11.79

(0.00%)

OSW

OneSpaWorld

$0.00

(0.00%)

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MLHR

Herman Miller

$35.07

-0.85 (-2.37%)

, MU

Micron

$40.08

-0.3 (-0.74%)

18:46
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Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

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Herman Miller

$35.07

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MU

Micron

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Williams-Sonoma

$56.88

0.09 (0.16%)

SIEN

Sientra

$9.76

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EB

Eventbrite

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GES

Guess

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UNIT

Uniti Group

$10.01

0.15 (1.52%)

WEX

Wex

$184.85

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CBMG

Cellular Biomedicine

$18.26

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FTDR

Frontdoor

$32.10

-2.29 (-6.66%)

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SAGE

Sage Therapeutics

$152.62

-3.46 (-2.22%)

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NVDA

Nvidia

$174.38

-1.39 (-0.79%)

18:27
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CURLF

Curaleaf Holdings

$0.00

(0.00%)

, CVS

CVS Health

$56.17

-0.93 (-1.63%)

18:24
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Periodicals
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CURLF

Curaleaf Holdings

$0.00

(0.00%)

CVS

CVS Health

$56.17

-0.93 (-1.63%)

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  • 25

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PETQ

PetIQ

$29.87

0.91 (3.14%)

18:23
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  • 20

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T

AT&T

$30.51

-0.19 (-0.62%)

18:21
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SGSOY

SGS SA

$0.00

(0.00%)

18:19
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SGS SA rating change at Goldman Sachs »

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CLX

Clorox

$155.94

-0.93 (-0.59%)

, RBGLY

Reckitt Benckiser

$0.00

(0.00%)

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Clorox

$155.94

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Reckitt Benckiser

$0.00

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  • 28

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BA

Boeing

$376.41

2.54 (0.68%)

18:09
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Boeing pushes flight test to International Space Station to August, Reuters says »

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CE

Celanese

$101.04

0.08 (0.08%)

18:02
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Celanese increases acetyl intermeditates prices »

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  • 18

    Apr

FTDR

Frontdoor

$32.10

-2.29 (-6.66%)

17:58
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Syndicate
Frontdoor 16.73M share Secondary priced at $30.00 »

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    Mar

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