Citigroup upgraded F5 Networks (FFIV) to neutral after it reported fiscal Q1 earnings and revenue above views late Wednesday, even though the data center gear maker’s outlook disappointed. Shares in F5 Networks were down about 0.5% in early afternoon trading in the stock market today. F5 Networks stock has plunged 33% since August. Longtime CEO John McAdam returned to run the company in December on an interim basis after Manny Rivelo, a former
F5 Networks (FFIV) stock rose a day after its chief executive resigned and its former longtime CEO John McAdam returned to run the company on an interim basis. Manny Rivelo, a former Cisco Systems (CSCO) executive, stepped down as CEO due to personal conduct matters unrelated to the operations or financial of the company, F5 Networks said late Monday. One analyst speculated that the management shuffle could open the door for F5 to “seek a
F5 Networks (FFIV) should use its strong balance sheet to add debt and initiate a dividend, says Nomura Securities, which downgraded the stock to sell Tuesday on views its revenue growth will slow. Seattle-based F5 Networks dropped more than 3% in the stock market today by early afternoon, to around 100. Shares in the data center gear maker are down 23% in 2015. Unlike RBC Capital, which last week speculated that F5 Network’s cash hoard and lower