Juniper Networks (JNPR) 23.10 -1.93 (-7.7%)
After raising its Q3 (Sept) outlook on July 13, maker of Internet-switching equipment turns in EPS of $0.13 (consensus of $0.11) on top of a 118% spike in revenues to $375 mln (consensus of $370.5 mln); Company remains optimistic for the remainder of the year and issues better than expected EPS and revenues guidance for Q4 (Dec); On its call, notes that the Q3 book-to-bill was above 1.0; Traders, however, have taken JNPR lower tonight - due to the general tone of the evening and expectations of extremely bullish guidance
Rambus (RMBS) 15.90 +0.75 (+5.0%)
After issuing better than expected guidance for Q3 (Sept) on July 15; memory chip maker proves that its continuing to gain steam with above consensus EPS and revenues numbers; Licensing revenues jumped to $8.3 mln, more than twice that of a year-ago; Company has been embroiled in several lawsuits with competitors and the government; On its call, RMBS said it expected a ruling in its anti-trust suit against Micron (MU) in another week; Clean report gives shares a reason to rally
Sun Microsystems (SUNW) 4.11 +0.14 (+3.5%)
Network computer maker comes in at breakeven in its Q1 (Sept) report - topping consensus expectations that called for a loss of $0.03; Revenue were a bit light - rising 4% to $2.6 bln (consensus of $2.7 bln); however, the market doesn't seem to mind as this is the second quarter of increases after three quarters of decreases; Gross margin also improved, to 42.9%; Company has been written off for a while now as it has been on the losing end against Linux; Right now, management is trying to make strides to improve its cost structure
CNET Networks (CNET) 8.15 -1.11 (-12.0%)
Provider of online technology news and information shows upside to the top and bottom-line consensus estimates in its Q3 (Sept) report, but then issues revenues forecasts that are closer to the low-end of estimates for Q4 (Dec) and FY05; Management also says that CFO Doug Woodrum will take another role at the company, but will continue in his position through 1Q05 until a successor is found; The combination of the CFO news and multiple warnings has spooked traders tonight; CNET has approached its 50-day moving average at 8.6
Netflix (NFLX) 11.00 -6.43 (-36.9%)
After guiding higher for Q3 (Sept) Oct 4, online movie rental service reports EPS of $0.35 - $0.03 above the upwardly revised Reuters Estimates consensus; Gross margins came in at 49.5% (company guided for 'as high as 51%') and churn was 5.6% (versus 5.2% a year ago); Buyers have not come out in mass, tough, as Netflix said it expected the business environment to become increasingly competitive; On its call, management said that Amazon.com (AMZN) is coming into its market, and a result, it will be postponing its UK launch and reducing its price to $18 from $22; Puts FY05 (Dec) EPS at breakeven versus the consensus of $1.19
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