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CSCO

Cisco

$56.20

-0.41 (-0.72%)

, ACIA

Acacia Communications

$48.13

0.05 (0.10%)

08:03
07/09/19
07/09
08:03
07/09/19
08:03

Cisco to acquire Acacia Communications for $70.00 per share in cash, or $2.6B

Cisco (CSCO) and Acacia Communications (ACIA) announced they have entered into a definitive agreement under which Cisco has agreed to acquire Acacia. An existing Cisco supplier, Acacia designs and manufactures high-speed, optical interconnect technologies that allow webscale companies, service providers, and data center operators to meet the fast-growing consumer demands for data. Under the terms of the agreement, Cisco has agreed to acquire Acacia for $70.00 per share in cash, or for approximately $2.6B on a fully diluted basis, net of cash and marketable securities. The acquisition is expected to close during the second half of Cisco's FY2020, subject to customary closing conditions and required regulatory approvals. Upon completion of this transaction, Acacia employees will join Cisco's Optical Systems and Optics business within the networking and security business under David Goeckeler.

CSCO

Cisco

$56.20

-0.41 (-0.72%)

ACIA

Acacia Communications

$48.13

0.05 (0.10%)

  • 16

    Jul

  • 14

    Aug

CSCO Cisco
$56.20

-0.41 (-0.72%)

06/12/19
06/12/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Cisco (CSCO) downgraded to Market Perform from Outperform at William Blair with analyst Jason Ader saying he sees "signs of tightening demand" across IT infrastructure, which he believes could pressure growth in Cisco's fiscal 2020, "especially when compared against unusually strong demand in fiscal 2019." 2. Manpower (MAN) downgraded to Neutral from Outperform at Credit Suisse. 3. Dave & Buster's (PLAY) downgraded to Hold from Buy at Gordon Haskett and SunTrust, as well as to Market Perform from Outperform at Wells Fargo. 4. Amcor (AMCR) reinstated with a Sell from Neutral at Goldman Sachs with analyst Brian Maguire saying Bemis's earnings growth "has not proven to be as resilient in recent years." 5. Beyond Meat (BYND) downgraded to Market Perform from Outperform at Bernstein with analyst Alexia Howard saying "valuation considerations as the stock has traded in a highly volatile manner since its IPO likely due to its limited public float." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
06/25/19
COWN
06/25/19
NO CHANGE
COWN
Outperform
Cisco remains our "Best idea", says Cowen
Cowen analyst Paul Silverstein said Cisco remains his "Best idea" for 2019. He cited confidence in its earnings power from an improving comps position, ongoing shift to recurring software revenue, and increasing strategic significance of the network. Silverstein reiterated his Outperform rating and $65 price target on Cisco shares.
07/03/19
RILY
07/03/19
NO CHANGE
Target $5
RILY
Buy
Finjan kept 'all-important' system claims in patent ruling, says B. Riley FBR
The U.S. Court of Appeals for the Federal Circuit yesterday affirmed prior U.S. Patent Trial and Appeal Board inter partes review rulings that affirm the patentability of claims of one of Finjan Holdings' (FNJN) workhorse patents against Palo Alto Networks, B. Riley FBR analyst Mike Crawford tells investors in a research note. While Finjan didn't regain prior stricken method claims, it did retain its "all-import" system claims in the patent, says the analyst. Further, he believes the CAFC cleared up an unintentional delay on delayed priority claim issue that quashes any inequitable conduct arguments not only in the Palo Alto case but also in others such as Juniper Networks (JNPR) and Cisco Systems (CSCO) where Finjan also is asserting this patent. Crawford now expects Finjan to ask the judge to lift the stay, "setting the wheels in motion to grind toward a potential jury trial." He keeps a Buy rating on the shares with a $5 price target.
07/08/19
SBSH
07/08/19
DOWNGRADE
Target $24
SBSH
Sell
Juniper downgraded to Sell from Neutral at Citi
Citi analyst Jim Suva downgraded Juniper Networks (JNPR) to Sell from Neutral and cut his price target for the shares to $24 from $28. The analyst has picked up recent competitive share gains by Arista Networks (ANET) and Cisco Systems (CSCO). This sets up for more share loss to Juniper and "too lofty" expectations in the second half of 2019, Suva tells investors in a research note.
ACIA Acacia Communications
$48.13

0.05 (0.10%)

05/06/19
05/06/19
UPGRADE
Target $64

Neutral
Acacia Communications upgraded to Neutral at BofA/Merrill
As previously reported, BofA/Merrill upgraded Acacia Communications to Neutral from Underperform and raised its price target to $64 from $40. Analyst Tal Liani believes Acacia is well positioned to benefit from China's 5G build-out and new Data Center products, but notes customer concentration is a key risk given Chinese vendor inventory build-out.
07/01/19
NEED
07/01/19
UPGRADE
NEED
Buy
Acacia Communications upgraded to Buy from Hold at Needham
07/01/19
NEED
07/01/19
UPGRADE
Target $59
NEED
Buy
Acacia Communications upgraded to Buy from Hold at Needham
Needham analyst Alex Henderson upgraded Acacia Communications (ACIA) to Buy from Hold with a $59 price target following a round of industry checks and visits. In a research note to investors, Henderson says he believes the landscape is improving for Acacia, as well as for Ciena (CIEN) and Infinera (INFN). By driving more rapid new DSP introductions, the analyst says Acacia has pressured its competitors to keep pace, which he says they are not. He thinks Acacia will gain share, lock in customers, and enhance their advantage on the next chip development cycle.
07/02/19
PIPR
07/02/19
NO CHANGE
PIPR
Piper sees 'interesting opportunities' in Optical Networking space
The trade war concerns have created some "interesting opportunities" within the Optical Networking space as underlying demand trends remain solid, Piper Jaffray analyst Troy Jensen tells investors in a research note. The analyst believes investors should revisit some select names and he highlights Acacia Communications (ACIA), Fabrinet (FN) and Lumentum (LITE). He continues to view Acacia as one of the best optical stocks to own and would be buyers at current levels.

TODAY'S FREE FLY STORIES

ATEX

Anterix

$46.95

-0.66 (-1.39%)

21:10
07/16/19
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Syndicate
Anterix 2.22M share Secondary priced at $45.00 »

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TNXP

Tonix Pharmaceuticals

$0.57

-0.4087 (-41.75%)

21:08
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21:08
Syndicate
Tonix Pharmaceuticals 9M share Secondary priced at $0.60 »

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HTHT

Huazhu Group

$34.88

0.23 (0.66%)

21:05
07/16/19
07/16
21:05
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21:05
Earnings
Huazhu Group sees Q2 revenue growth of 13%-15% »

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PS

Pluralsight

$30.66

-0.71 (-2.26%)

20:58
07/16/19
07/16
20:58
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20:58
Initiation
Pluralsight initiated at KeyBanc »

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TWOU

2U

$38.60

-0.34 (-0.87%)

20:57
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07/16
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20:57
Initiation
2U initiated at KeyBanc »

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BVN

Buenaventura

$16.31

-0.03 (-0.18%)

20:36
07/16/19
07/16
20:36
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20:36
Hot Stocks
Buenaventura reports Q2 Orcopampa gold production 10.7K oz vs. 5.9K in Q1 »

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HOPE

Hope Bancorp

$13.96

0.2 (1.45%)

20:33
07/16/19
07/16
20:33
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20:33
Hot Stocks
Hope Bancorp authorizes $50M stock repurchase program »

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  • 17

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20:25
07/16/19
07/16
20:25
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20:25
Conference/Events
CLSA Asian tech analyst team to hold an analyst/industry conference call »

Asian Technology Analysts…

BAC

Bank of America

$28.99

-0.23 (-0.79%)

, ABT

Abbott

$83.11

-0.69 (-0.82%)

20:25
07/16/19
07/16
20:25
07/16/19
20:25
Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

BAC

Bank of America

$28.99

-0.23 (-0.79%)

ABT

Abbott

$83.11

-0.69 (-0.82%)

USB

U.S. Bancorp

$53.04

-0.07 (-0.13%)

PNC

PNC Financial

$138.66

-1.52 (-1.08%)

PGR

Progressive

$84.11

0.105 (0.12%)

BK

BNY Mellon

$43.13

-0.02 (-0.05%)

OMC

Omnicom

$84.08

0.065 (0.08%)

TXT

Textron

$54.02

0.59 (1.10%)

CMA

Comerica

$71.75

0.39 (0.55%)

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SCGLY

Societe Generale

$0.00

(0.00%)

20:08
07/16/19
07/16
20:08
07/16/19
20:08
Upgrade
Societe Generale rating change at JPMorgan »

Societe Generale upgraded…

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SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

, SPX

S&P 500

$0.00

(0.00%)

20:06
07/16/19
07/16
20:06
07/16/19
20:06
Periodicals
SF Fed President Daly not leaning in either direction on rates, Reuters says »

In a Reuters interview,…

SPY

SPDR S&P 500 ETF Trust

$299.75

-1.03 (-0.34%)

SPX

S&P 500

$0.00

(0.00%)

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WAFD

Washington Federal

$34.63

0.02 (0.06%)

20:02
07/16/19
07/16
20:02
07/16/19
20:02
Earnings
Washington Federal reports Q3 EPS 67c, consensus 64c »

Reports Q3 NII $121.7M,…

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PAGS

PagSeguro Digital

$44.72

0.755 (1.72%)

19:16
07/16/19
07/16
19:16
07/16/19
19:16
Initiation
PagSeguro Digital initiated at Evercore ISI »

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

, CTAS

Cintas

$239.46

-3.85 (-1.58%)

18:50
07/16/19
07/16
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18:50
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS:…

SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

CTAS

Cintas

$239.46

-3.85 (-1.58%)

UAL

United Continental

$94.00

2.7 (2.96%)

QCOM

Qualcomm

$75.66

0.23 (0.30%)

NUS

Nu Skin

$45.50

1.44 (3.27%)

SENS

Senseonics

$1.68

-0.075 (-4.29%)

CSX

CSX

$79.57

1.05 (1.34%)

IBKR

Interactive Brokers

$50.72

-0.44 (-0.86%)

INO

Inovio

$3.00

0.05 (1.69%)

TELL

Tellurian

$7.68

-0.1 (-1.29%)

WB

Weibo

$41.57

-1.47 (-3.42%)

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NVLN

Novelion Therapeutics

$0.71

-0.0054 (-0.75%)

18:46
07/16/19
07/16
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Hot Stocks
Novelion Therapeutics announces BC Court dismissed action filed by Whitefort »

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DLGNF

Dialog Semiconductor

$0.00

(0.00%)

18:41
07/16/19
07/16
18:41
07/16/19
18:41
Earnings
Dialog Semiconductor raises Q2 revenue view to $482M »

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BHP

BHP Group

$57.59

-0.27 (-0.47%)

18:39
07/16/19
07/16
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Hot Stocks
BHP Group reports Q4 iron ore output 63MT, down 2% from last year »

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  • 16

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DPZ

Domino's Pizza

$246.55

-23.42 (-8.68%)

18:33
07/16/19
07/16
18:33
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18:33
Hot Stocks
Domino's Pizza CEO: We are in a position of strength »

In an interview on…

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  • 16

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    Nov

UBER

Uber

$44.13

-0.38 (-0.85%)

18:18
07/16/19
07/16
18:18
07/16/19
18:18
Periodicals
Uber rolls out ride-hailing services in Hamburg, Germany, Reuters says »

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  • 08

    Aug

LFUS

Littelfuse

$168.35

-2.05 (-1.20%)

18:03
07/16/19
07/16
18:03
07/16/19
18:03
Earnings
Littelfuse reports preliminary Q2 EPS $1.91, consensus $2.03 »

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  • 31

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  • 19

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S

Sprint

$7.23

0.12 (1.69%)

, SSNLF

Samsung

$0.00

(0.00%)

17:51
07/16/19
07/16
17:51
07/16/19
17:51
Periodicals
Sprint says hackers broke into user accounts via Samsung site, ZDNet says »

Sprint (S) informed…

S

Sprint

$7.23

0.12 (1.69%)

SSNLF

Samsung

$0.00

(0.00%)

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  • 08

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SGEN

Seattle Genetics

$63.12

-0.87 (-1.36%)

17:50
07/16/19
07/16
17:50
07/16/19
17:50
Hot Stocks
Seattle Genetics up 8% to $68.20 after Q2 results »

The company achieved…

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  • 16

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QCOM

Qualcomm

$75.66

0.23 (0.30%)

17:48
07/16/19
07/16
17:48
07/16/19
17:48
Periodicals
DOJ requests halt of antitrust ruling against Qualcomm, Reuters reports »

The U.S. Justice…

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  • 31

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MFGP

Micro Focus

$20.66

-0.01 (-0.05%)

17:46
07/16/19
07/16
17:46
07/16/19
17:46
Downgrade
Micro Focus rating change at Goldman Sachs »

Micro Focus downgraded to…

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GLD

SPDR Gold Shares

$132.39

-1.12 (-0.84%)

17:45
07/16/19
07/16
17:45
07/16/19
17:45
Hot Stocks
SPDR Gold Shares holdings fall from 800.54MT to 799.37MT »

This is the lowest level…

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