Key Developments: NetApp Inc (NTAP.O)
36.89USD
23 May 2013
$-0.39 (-1.05%)
$37.28
$37.50
$37.50
$36.85
11,277,377
8,262,075
$39.15
$26.26
Latest Key Developments (Source: Significant Developments)
NetApp Inc Issues Q1 2014 Guidance Below Analysts' Estimates; Initiates Quarterly Cash Dividend And Announces Stock Repurchase
NetApp Inc announced that for the first quarter of 2014, it expects revenues to be in the range of $1.475 billion to $1.575 billion, GAAP earnings per share to be approximately $0.13 to $0.18 and non-GAAP earnings per share to be approximately $0.45 to $0.50. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.601 billion and EPS of $0.53 for the first quarter of 2014. The Company also announced that it has initiated a quarterly cash dividend of $0.15 per share of the Company's common stock, which it intends to increase over time. The first dividend will be payable on July 23, 2013 to shareholders of record as of the close of business on July 11, 2013. The Company also announced that it is increasing its current stock repurchase program, of which $1.4 billion remains outstanding, by an additional $1.6 billion. The Company plans to complete the aggregate $3 billion program over the next 3 years. NetApp intends $2 billion of repurchases to be completed within the next 12 months, of which $1 billion is planned to be completed during the next 4 months. Under its stock repurchase program, NetApp can purchase shares of its outstanding common stock through open market and privately negotiated transactions at prices deemed appropriate by management. Full Article
NetApp Inc Issues Q4 2013 Guidance In Line With Analysts' Estimates
NetApp Inc announced that for the fourth quarter of 2013, it expects revenue to be in the range of $1.700 billion to $1.800 billion, GAAP earnings per share (EPS) to be approximately $0.43 to $0.48 per share and non-GAAP earnings per share (EPS) to be approximately $0.65 to $0.70 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.749 billion and EPS of $0.65 for the fourth quarter of 2013. Full Article
Sap AG and NetApp Inc Deepen Strategic Partnership to Integrate Storage Database, Analytics and Application Solutions
Sap AG and NetApp Inc announced they are deepening their collaboration with the intent to support solutions, including the SAP HANA platform and SAP NetWeaver Landscape Virtualization Management software. By complementing database solutions from SAP with NetApp's storage and data management solutions, the companies are providing customers with an agile data infrastructure for SAP applications that can help drive competitive advantage and reduces cost of ownership. With these technologies, NetApp is part of the solution that supports customers running classic SAP solutions as well as SAP HANA. The building-block-style architecture supports logically unlimited scalability and offers high availability for support of non-stop operations. NetApp storage and data management solutions, including the Cisco and NetApp-developed FlexPod, complement SAP NetWeaver Landscape Virtualization Management in the automation of routine administration tasks; reduction of costs, hardware resources and power; and simplification of landscape management of SAP solutions. Full Article
NetApp Inc Prices $1,000,000,000 of Senior Notes
NetApp Inc announced the pricing of $750,000,000 in aggregate principal amount of its 2.00% senior notes due 2017 (the 2017 notes) and $250,000,000 in aggregate principal amount of its 3.25% senior notes due 2022 (the 2022 notes). The offering is expected to close, subject to customary closing conditions, on December 12, 2012. The 2017 notes were priced to yield 2.107% and the 2022 notes were priced to yield 3.344%. NetApp intends to use the net proceeds from this offering for general corporate purposes, which may include repayment of certain indebtedness, capital expenditures, possible stock repurchases, working capital and potential acquisitions and strategic transactions. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers. Citigroup Global Markets Inc., Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC are acting as co-managers. Full Article
NetApp Inc Announces Offering of Senior Notes
NetApp Inc announced that it intends to offer, subject to market and other conditions, senior unsecured notes under an effective shelf registration statement on file with the Securities and Exchange Commission. The offering and the final terms of the senior notes, including principal amount, interest rate and maturity will depend on market and other conditions at the time of pricing. NetApp intends to use the net proceeds from this offering for general corporate purposes, which may include repayment of certain indebtedness, capital expenditures, possible stock repurchases, working capital and potential acquisitions and strategic transactions. J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers. Full Article
NetApp Inc Issues Q3 2013 Guidance
NetApp Inc announced that for the third quarter of 2013, it expects revenue to be in the range of $1.575 billion to $1.675 billion, GAAP earnings per share to be approximately $0.29 to $0.34 per share and non-GAAP earnings per share to be approximately $0.53 to $0.58 per share. Full Article
Citrix Systems Inc And NetApp Inc Collaborate To Simplify Cloud Storage
Citrix Systems Inc announced that the Company and NetApp Inc announced an extension of their current collaboration aimed at accelerating the adoption of enterprise cloud deployments. Together, Citrix and NetApp will provide a fully integrated cloud orchestration and storage solution that will address storage automation, resource allocation, and virtual machine backup and recovery. The move greatly simplifies cloud storage deployment for the companies' mutual customers and will result in faster transitions to private and hybrid clouds. These integrations between Citrix and NetApp technology will focus on NetApp OnCommand Unified Manager. Support in CitrixCloudPlatform and Apache CloudStack will automate the provisioning and administration of storage service offerings within the product's self-service portal, increasing agility while decreasing service deployment times based on policy-based resource allocation. NetApp virtual storage console (VSC) for Citrix XenServer. NetApp plug-in for XenCenter empowers Citrix administrators to provision, deduplicate, resize, and delete storage repositories on NetApp storage. In VDI deployments, NetApp VSC for Citrix XenServer allows for cloning tens of thousands of VMs almost instantaneously with NetApp FlexClone technology. Full Article
NetApp Inc Issues Q2 2013 Guidance In Line With Analysts' Estimates
NetApp Inc announced that for the second quarter of 2013, it expects revenue to be in the range of $1.5 billion to $1.6 billion. GAAP earnings per share to be approximately $0.23 to $0.28 per share and estimates non-GAAP earnings per share to be approximately $0.45 to $0.50 per share. According to I/B/E/S Estimates, analysts were expecting the Company to report revenues of $1.5 billion and EPS of $0.46 for the second quarter of 2013. Full Article
NetApp Inc Issues Q1 2013 Guidance Below Analysts' Estimates
NetApp Inc announced that for the first quarter of 2013, it expects revenue to be in the range of $1.40 billion to $1.50 billion, GAAP earnings per share (EPS) will be approximately $0.10 to $0.15 per share and non-GAAP earnings per share (EPS) will be approximately $0.34 to $0.39 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.61 billion and EPS of $0.59 for the first quarter of 2013. Full Article
NetApp Inc Issues Q4 2012 Guidance In Line With Analysts' Estimates
NetApp Inc announced that for fourth quarter of 2012, it expects revenue to be in the range of $1.645-$1.725 billion, GAAP earnings per share to be approximately $0.38 to $0.43 per share and non-GAAP earnings per share to be approximately $0.60 to $0.65 per share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.67 billion and EPS of $0.63 for fourth quarter of 2012. Full Article
NetApp speeds up share buyback, starts dividend
- Data storage equipment maker NetApp Inc , under pressure from activist shareholder Elliott Management, said it would spend about $1 billion in the next four months to buy back shares.
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