News: NetApp Inc (NTAP.OQ)

NTAP.OQ on NASDAQ Stock Exchange Global Select Market

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24 May 2013
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Wed, May 22 2013

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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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NetApp speeds up share buyback, starts dividend

- 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.

CORRECTED-UPDATE 1-NetApp boosts share buyback by $1.6 bln; starts dividend

(Corrects adjusted profit in paragraph 13 to 69 cents per share from 68 cents per share)

NetApp revenue rises on higher flash storage sales

May 21 - Data storage equipment maker NetApp Inc reported a marginal rise in quarterly revenue, helped by higher sales of its flash storage products.

NetApp shares soar after report Elliott took 'significant' stake

- 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.

NetApp forecasts adjusted earnings above estimates

- 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.

UPDATE 1-NetApp forecasts adjusted earnings above estimates

* Expects fourth-quarter adjusted earnings $65-$70/share vs est $65/share

NetApp's profit rises on strong services business

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.

New Issue-NetApp sells $1 bln in 2 parts

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

TEXT-S&P assigns NetApp 'BBB+' rating, outlook is stable

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

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