Oppenheimer Cuts Numbers On Cavium Networks (CAVM) On Q4 Warning
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Rating Summary:
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Up: 10 | Down: 11 | New: 6
Rating Summary:
13 Buy, 18 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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Oppenheimer lowered estimates on Perform-rated Cavium Networks (NASDAQ: CAVM) following lower Q4 guidance.
After the close, Cavium cut 4Q11 guidance to $56.5 million from $61.6 million, versus the consensus $62.6 million.
The firm said, "recent negative pre-announcements from bellwethers ALTR/XLNX should soften the blow, although CAVM's stable of growth/momentum investors is unlikely to welcome the reduced outlook."
For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.
Shares of Cavium Networks closed at $28.48 yesterday.
After the close, Cavium cut 4Q11 guidance to $56.5 million from $61.6 million, versus the consensus $62.6 million.
The firm said, "recent negative pre-announcements from bellwethers ALTR/XLNX should soften the blow, although CAVM's stable of growth/momentum investors is unlikely to welcome the reduced outlook."
For an analyst ratings summary and ratings history on Cavium Networks click here. For more ratings news on Cavium Networks click here.
Shares of Cavium Networks closed at $28.48 yesterday.
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