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HIVE

Aerohive

$4.20

-0.04 (-0.94%)

16:18
04/15/19
04/15
16:18
04/15/19
16:18

Aerohive reports preliminary Q1 adj. EPS (10c)-(9c), consensus (1c)

Reports preliminary Q1 revenue roughly $33M, consensus $37.47M. The company believes approximately half of the revenue shortfall to be primarily due to sales execution issues in the United States, and the other half to be primarily due to two mix shifts in the quarter: An unexpected shift in unit product mix from mid- to lower-priced access points. Revenue on lower-priced access point business is more heavily weighted toward deferred subscription revenue. The company believes this mix shift was an anomaly in the quarter and not an indication of a future trend, and Wi-Fi 6 access point business in the quarter increased sequentially from 15% to 20% of total Wi-Fi business. The other mix shift in the quarter was a faster-than-expected transition from licenses to multi-year subscriptions. While demonstrating increasing acceptance of Aerohive's subscription-based cloud offering, it resulted in a greater portion of revenue being deferred. These mix shifts resulted in the company recognizing a higher portion of shipment value as deferred revenue in the quarter, it said. This generated record deferred revenue balances, but also reduced in-quarter product revenue. "While we are disappointed with sales execution in the US and are implementing measures to improve in this region, we see clear signs that the US education market is returning to growth and believe we are well-positioned to benefit. The 2019 E-rate cycle resulted in a 55% year-over-year increase in funding requests for Aerohive products and over 10% market share of all funding requested for 'wireless data distribution,' as reported by E-rate Profit Works. We expect E-rate orders to begin to flow in the second quarter but primarily to contribute to results in the second half of the year," stated David Flynn, president and chief executive officer, Aerohive Networks. "In the second quarter we expect to see continued progress in our migration to a more SaaS-like business model, as market demand is dictating more cloud-based subscription services and this revenue line continues to grow in the high teens year-over-year."

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TODAY'S FREE FLY STORIES

CNC

Centene

$50.20

0.04 (0.08%)

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APHA

Aphria

$7.64

-0.17 (-2.18%)

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ALGN

Align Technology

$296.77

-0.35 (-0.12%)

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AAPL

Apple

$205.28

-1.82 (-0.88%)

18:21
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Several veterans leave Apple's design team, WSJ reports »

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FB

Facebook

$193.23

10.59 (5.80%)

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NOV

National Oilwell

$26.44

-0.04 (-0.15%)

18:17
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National Oilwell reports Q1 EPS (20c), consensus (8c) »

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FB

Facebook

$193.23

10.59 (5.80%)

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FB

Facebook

$193.23

10.59 (5.80%)

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

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Amazon.com says had 'a lot of good customer wins' in Q1 »

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FIBK

First Interstate

$41.94

-0.63 (-1.48%)

18:08
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First Interstate reports Q1 EPS 69c, consensus 72c »

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F

Ford

$9.41

-0.17 (-1.77%)

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PUB

People's Utah Bancorp

$28.02

0.09 (0.32%)

18:01
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Earnings
People's Utah Bancorp reports Q1 EPS ,55c consensus 55c »

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AEGN

Aegion

$19.44

-0.58 (-2.90%)

17:57
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Hot Stocks
Aegion subsidiary awarded three contracts valued at $13M total »

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AMZN

Amazon.com

$1,902.53

1.81 (0.10%)

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F

Ford

$9.41

-0.17 (-1.77%)

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CIR

Circor

$34.53

-2 (-5.48%)

17:48
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Earnings
Circor sees Q2 adjusted EPS 40c-48c, consensus 54c »

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F

Ford

$9.41

-0.17 (-1.77%)

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Ford CFO says Q1 market share declined to 5.9% from 6.5% »

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CIR

Circor

$34.53

-2 (-5.48%)

17:46
04/25/19
04/25
17:46
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17:46
Earnings
Circor reports Q1 adjusted EPS 38c, consensus 37c »

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F

Ford

$9.41

-0.17 (-1.77%)

17:45
04/25/19
04/25
17:45
04/25/19
17:45
Hot Stocks
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ARGO

Argo Group

$74.21

-0.245 (-0.33%)

17:43
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17:43
Upgrade
Argo Group rating change at William Blair »

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ILMN

Illumina

$318.91

4.47 (1.42%)

17:36
04/25/19
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17:36
Earnings
Illumina raises FY19 adj. EPS view to $6.63-$6.73 from $6.50-$6.60 »

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HTH

Hilltop Holdings

$19.90

-0.19 (-0.95%)

17:35
04/25/19
04/25
17:35
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17:35
Earnings
Hilltop Holdings reports Q1 EPS 41c, consensus 26c »

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F

Ford

$9.41

-0.17 (-1.77%)

17:35
04/25/19
04/25
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17:35
Hot Stocks
Ford backs long-term revenue growth target view exceeding global GDP »

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ILMN

Illumina

$318.91

4.47 (1.42%)

17:32
04/25/19
04/25
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17:32
Earnings
Illumina reports Q1 adj. EPS $1.60, consensus $1.34 »

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GIB

CGI Group

$71.16

0.36 (0.51%)

17:30
04/25/19
04/25
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17:30
Downgrade
CGI Group rating change at CIBC »

CGI Group downgraded to…

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