Riverbed Technology Hits New 52 Week High on Not So Surprising Earnings
Ok, maybe the Q2 earnings report and movement was surprising to others, but it was clear from the F5 Networks (FFIV) report and 13% surge on Thursday plus other reports from the likes of VMWare (VMW) that Riverbed Tech (RVBD) would likely report a blowout quarter. Whats really surprising is the lackluster jump on Thursday and the monster 14% move on Friday. After today, Riverbed Tech has become the largest position in both the Growth and Opportunistic Portfolios. Details on the earnings report from Reuters : * Q2 adj. EPS $0.25 vs est. $0.22 * Q2 rev $126.2 mln vs est. $119.4 mln * Sees Q3 EPS $0.27 vs est. $0.24 Product sales rose more than 40 percent, marking its fourth consecutive quarter of product revenue increase, the company said in a statement. After the results, S&P analyst Ari Bensinger upgraded the stock to "hold", saying that the networking equipment was experiencing a solid rebound in demand from the enterprise sector. "While we still see a lagging ...