Citrix Systems (CTXS) is being taken to task by activist shareholder Elliott Management, and at least one analyst says it could be headed toward going private. The enterprise software company received a letter Thursday from Elliott Management that encouraged the company to sell some units, cut costs and buy back some of its shares. Elliott, which owns a 7.1% stake in Citrix, requested a meeting with the company’s board to share a plan to improve
Citrix Systems’ (CTXS) negative Q1 earnings preannouncement late Thursday could signal more adverse implications for the technology company. Citrix, which makes desktop virtualization software in competition with VMware (VMW) and others, could be in for tougher times as it works through internal restructuring and foreign currency issues, Michael Turits, an analyst for Raymond James & Associates, said in a research report Friday. He maintained a
Citrix Systems (CTXS) provided investors with a major restructuring plan, including layoffs, along with fourth-quarter earnings that beat analyst estimates, after the market close on Wednesday. The maker of virtualization desktop software and cloud services said it plans to cut about 10% of its workforce, including 700 full-time employees and 200 contractors, which it says will result in annualized pretax cost savings of $90 million to $100