Blue Coat Systems (BCSI) shares are down sharply today, apparently pressured by last night’s earnings warning from Riverbed (RVBD), a rival in the wide-area network optimization sector. There is no other news or analyst commentary on Blue Coat this morning that would explain today’s decline.
As noted earlier, Riverbed’s estimate on first quarter revenues came up short of expectations. “Macro-economic trends caused a lengthening sales cycle, primarily for domestic enterprise customers,” the company said in announcing its warning.
Blue Coat shares are down $2.36, or 10.6%, to $20.01. Riverbed is off $1.61, or 11%, at $13.02.
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This article has 1 comment:
We are seeing unusual activity on the BCSI calls in May. The calls(right to buy) only have a few days left to expire. Perhaps you would know? Are they a take out target?
Ac
Optionmonster.com