News: NetApp Inc (NTAP.OQ)
24 May 2013
- Data storage equipment maker NetApp Inc , under pressure from activist shareholder Eliott Management, said it would spend about $1 billion in the next four months to buy back shares.
(Corrects adjusted profit in paragraph 13 to 69 cents per share from 68 cents per share)
May 21 - Data storage equipment maker NetApp Inc reported a marginal rise in quarterly revenue, helped by higher sales of its flash storage products.
- Shares of NetApp Inc jumped 7 percent on Thursday after Bloomberg cited unidentified sources as saying activist investor Elliott Management has taken a "significant" stake in the company and intends to push for changes to the board and cash return strategy.
- Data storage equipment maker NetApp Inc reported third-quarter results that beat market estimates on growth in its services business, and forecast current-quarter adjusted earnings above expectations.
* Expects fourth-quarter adjusted earnings $65-$70/share vs est $65/share
Feb 13 - Data storage equipment maker NetApp Inc reported a more than 30 percent jump in quarterly profit as revenue from its services business rose.
Dec 6 - NetApp Inc on Wednesday sold $1 billion of senior notes in two parts, said IFR, a Thomson Reuters service. J.P. Morgan and Morgan Stanley were the joint bookrunning managers for the sale. BORROWER: NETAPP TRANCHE 1 AMT $750 MLN COUPON 2 PCT MATURITY 12/15/2017 TYPE SR NTS ISS PRICE 99.494 FIRST PAY 06/06/2013 MOODY'S Baa1 YIELD 2.107 PCT SETTLEMENT 12/12/2012 S&P BBB-PLUS SPREAD 150 BPS PAY FREQ SEMI-ANNUAL FITCH N/A MO
Overview -- We are assigning ratings to Sunnyvale, Calif.-based software company NetApp Inc. based on its "satisfactory" business risk position coupled with its "modest" financial risk profile under our criteria. -- We are assigning our 'BBB+' corporate credit rating and stable outlook. -- The stable outlook reflects our expectation that NetApp will maintain its market position and financial profile in line with the current rating over the intermediate term. Rating Action On D
- NetApp Prices $1,000,000,000 of Senior Notes
- NetApp Announces Offering of Senior Notes
- Employee-Driven Culture Helps Fuel Customer and Partner Success, Earns NetApp #6 Ranking as Best Place to Work in New York City
- U.S. Federal Government Customers Choose NetApp More Than Any Other Storage Vendor
- NetApp Supports Amazon Web Services Direct Connect With Private Storage Solution
- City of Evansville, Indiana, Empowers IT Staff to Deliver More Services and to Deploy Them Quickly With New NetApp Storage Solution
- NetApp to Participate in the Credit Suisse Technology Conference on November 27, 2012
- Top Investment Service Publishes 'The Demise of Apple or a Time to Buy?' Special Report
- NetApp Announces Results for Second Quarter Fiscal Year 2013
- Unique Global Culture Earns NetApp #3 Ranking as Best Workplace in the World, Helps Fuel Customer and Partner Success