The company's forecast for the current period was below Wall Street's consensus estimates, but Kevin Dennean of Citigroup wrote that the company "made constructive comments that we believe should not be overlooked" regarding new product momentum, share buybacks and cost savings. "All in,ALL we ARE IDIOTS FOR RECOMENDING THIS STOCK ON THEIR COMMENTS ITS BECAUSE WE HAVE TO UNLOAD WHAT THEY OWN P/E 27 way to high
lol, agree. maybe they are trying to prop up more than just this networking stock. appears this spin has NTAP and others pumped up as well. the whole network build out is way too early according to the industry experts themselves. I have a video link but anything over 20 minutes is too long. should settle back down after the sold to you shares is complete. amazing.
1) Denholm on conference call: "we recently announced a $1 billion increase in our share repurchase authorization. Given the current market, we intend to be more opportunistic in the near term. ...based on current trends, we clearly recognize the opportunity to do more."
There's now a floor under the stock. Outside of the insider period (30 days before end of Q till 1 day after earnings), expect jnpr to be a buyer on any down tick when the stock is below $15. In other words, there's a lower limit now, so good luck on being wishful that you're going to be able to rescue a short position.
2) re: 27 p/e. bogus. You're using trailing GAAP numbers, and this stock has always been about forward non-GAAP numbers. But it's more than that now, Denholm announced approx. $.29/share reduction in opex backloaded for 2013. As we get closer to the end of the year, expect analysts numbers to reflect that in forward earnings targets. That's going to buy you upgrades.
Face it, shorts screwed the pooch on this one. Trying to wait this one out is going to make matters worse.