Riverbed (RVBD) Warns; Pulls Down Enterprise Software Industry (QLGC, ELX, BCSI, FFIV)
More News related to BCSI
- Blue Coat Partners with Apere to Secure and Simplify Authentication of Web-Based Applications
- Blue Coat Senior Architect Honored With SIGCOMM's Test of Time Award for TCP Performance Research
- Blue Coat Systems (BCSI) Gain Almost 18% After Earnings Report and Upgrade
- Unusual 11 Mid-Day Movers 8/22: ALO, BCSI, LEH, YGE Higher; AVNXD, PSUN, PERY, NDSN Lower
- Notable Analyst Rating Changes 8/22: CHS, CRM, BCSI, RRC Upgraded; LVS, BKC, PSUN Downgraded
More News related to ELX
- Matrix USA Rating Changes 8/29
- DataCore Incorporates Emulex 8Gb/s Fibre Channel Host Bus Adapters into High-Performance Storage Virtualization Solutions
- Emulex to Present At Citigroup Global Technology Conference
- Emulex Demonstrates Industry-Leading Data Center Efficiency With Its 8Gb/s HBAs and Next-Generation Intel Servers At IDF
- Emulex 8Gb/s LightPulse HBAs Now Available for Hitachi Data Systems Storage Platforms
More News related to FFIV
- F5 Networks to Present at the Citigroup 15th Annual Global Technology Conference and the Kaufman Bros. 11th Annual Investor Conference
- F5 Teams with Ritz Interactive to Accelerate E-Commerce Network
- F5 Networks Helps Averitt Express Accelerate Its Online Booking System
- F5 Networks to Hold Analyst/Investor Meeting November 4th at Company Headquarters in Seattle
- Wall Street Media Presents Exclusive Videos from the Pacific Crest Technology Leadership Forum
More News related to Analyst Comments
- ARGUS Maintains Hold Rating on Wyeth (WYE)
- Dell (DELL): Colour on quarter
- Deutsche Bank Cuts Price Target on Sigma Designs (SIGM) to $25; Maintains Buy
- Citi Reiterates 'Buy' Rating on Marvell Technology (MRVL)
- Affymax (AFFY) "Significantly Undervalued"; Buy on Weakness -Baird
After the close yesterday, Riverbed Technology (Nasdaq: RVBD) issued preliminary Q1 earnings, saying it expects EPS to be in the range of $0.08-$0.10 and revs between $72-$74 million. As both of these numbers are lower than the current Street EPS and revenue outlook of $0.12 and $80.98 million, respectively, shares of Riverbed have sold-off today. The stock has traded down about $1.90, or about 13% to as low as $12.72.
This lower-than-expected outlook has spooked the entire enterprise software sector. Several analyst firms have come out with negative notes about the implications for this market as a whole. Each of the firms cited concerns about IT spending, sending shares of companies across the industry tumbling.
Just before the close, QLogic (Nasdaq: QLGC) is down about 4%, Emulex (NYSE: ELX) is down 9%, and Blue Coat (Nasdaq: BCSI) is down 12%. Also, F5 Networks (Nasdaq: FFIV), which has a lot of exposure to IT software, has traded down 6% on the day.
An analyst at Collins Stewart commented "we have learned that the overall tone of business in large enterprise slowed across the board."
Riverbed Technology, Inc. provides solutions to the fundamental problems of wide-area distributed computing in the United States and internationally. [BCS]
Subscribe to EasyStockAlerts.com Now & Get The News Before Everyone Else!
Related Categories
Analyst CommentsCorporate News
Guidance
Insiders' Blog
Stocks Mentioned
-0.38Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
