Raymond James Maintains Market Perform on NetApp (NTAP) Following Announced SolidFire Acquisition

NetApp (NTAP)/SolidFire, Better Late Than Never, Baird Says; PT Down to $35

December 22, 2015 7:35 AM EST

Baird analyst, Jayson Noland, cut his price target on NetApp (NASDAQ: NTAP) to $35 from $40 after announcing the SolidFire acquisition on the near term earnings impact from the acquisition. The analyst has been negative on NTAP but is warming to the story demand has noticeably improved with the introduction of the cTAP transition program and consolidation... More

SolidFire Acquisition Seen as Possibly 'Too Little, Too Late' for NetApp (NTAP)

December 22, 2015 7:13 AM EST

William Blair affirms NetApp (Nasdaq: NTAP) with an Underperform rating following news that the company would acquire SolidFire in an $870 million deal.

Analyst Jason Ader sees the acquisition as potentially too little, too late for NetApp. The analyst commented: From a strategic standpoint, SolidFires... More

Susquehanna Cuts Price Target on NetApp (NTAP) Following Announced SolidFire Acquisition

December 22, 2015 7:11 AM EST

Susquehanna maintained a Neutral rating on NetApp (NASDAQ: NTAP), and cut the price target to $31.00 (from $32.00), following the company's announced acquisition of SolidFire. Susquehanna sees the acquisition to be an intriguing addition to NTAP's existing portfolio. However, given that NTAP already possesses two other All-Flash Array (AFA) products, the AFF and EF-Series, the company plans to utilize SolidFire as yet another tier of AFA systems, not as a replacement of AFF and... More

RBC Capital Downgrades NetApp (NTAP) to Sector Perform; SolidFire Acquisition Makes Takeout Unlikely

December 22, 2015 6:35 AM EST

RBC Capital downgraded NetApp (NASDAQ: NTAP) from Outperform to Sector Perform with a price target of $28.00 (from $38.00). Analyst Amit Daryanani called the deal to acquire SolidFire is materially dilutive to near-term EPS and will make NTAP a less likely takeout candidate."

"We are downgrading NTAP to Sector Perform from... More

After-Hours Stock Movers 12/21: (ALXA) (CTAS) Higher; (SCS) (NTAP) (SYNT) Lower (more...)

December 21, 2015 6:10 PM EST

Alexza Pharmaceuticals, Inc. (Nasdaq: ALXA) 41.2% HIGHER; announced interim results of its Phase 2a study of AZ-002 (Staccato® alprazolam) in epilepsy patients. AZ-002 produced a dose-related decrease in mean Standardized Photosensivity Range (SPR), the primary endpoint in the study. AZ-002 is being developed for the management of epilepsy in patients with acute repetitive seizures... More

Market Wrap: 'Star Wars' Shatters Records; Shkreli Dropped from Another CEO Role; CDC Updates on Chiptole Probe

December 21, 2015 5:21 PM EST

Market wrap for December 21st

End of the Day: S&P 500 up 15.6 to 2,021.15; Dow Jones up 123.1 to 17,251.62; Nasdaq up 45.8 to 4,968.92

Market Brief: Markets rebounding following post-Fed-rate-hike volatility last week, which saw the Dow cede 620 points over two sessions.

Disney's Star Wars: The Force Awakens had a solid opening weekend.

KaloBios terminated its controversial CEO, Martin Shkreli, following securities fraud allegations last week.

The CDC said it was looking at a new e. coli strain, which may be related to the... More

NetApp to buy flash storage maker SolidFire for $870 million

December 21, 2015 4:32 PM EST

(Reuters) - Data storage equipment maker NetApp Inc (NASDAQ: NTAP) said it would buy SolidFire, a flash-storage systems maker, for $870 million in cash.

The deal is expected to close in the fiscal fourth quarter, the company said on Monday.

(Reporting by Supantha Mukherjee in Bengaluru)

... More

NetApp (NTAP) to Acquire SolidFire in $870M Cash Deal

December 21, 2015 4:01 PM EST

NetApp, Inc. (NASDAQ: NTAP) announced it has entered into a definitive agreement to acquire SolidFire for $870 million in cash. Founded in 2010, SolidFire is a market leader in all-flash storage systems built for the next-generation data center where simple scaling, set-and-forget management, assured performance and multi-tenancy, and cloud economic models are driving new market growth.

"This acquisition will benefit current and future customers looking to gain the benefits of webscale cloud providers for their own data centers," said George Kurian, chief executive officer of NetApp. "SolidFire combines the performance and economics of all-flash storage with a... More