Revenue, Earnings to Miss Previous Guidance
F5 Networks issued preliminary second-quarter numbers last night, and they weren't good! Revenue was just $350 million, missing previous guidance of $370 million to $380 million. Earnings of $1.06 to $1.07 also lagged hopes for a number between $1.21 and $1.24. Management blamed weak spending by telecoms and government. FFIV plunges 17 percent before the bell on my tradeMONSTER platform.
Late-Stage Trial Weighs on Rigel
Rigel Pharmaceuticals is getting hit after its fostamatinib arthritis drug performed poorly in a phase III trial. While it fared well against a placebo, X-rays didn't show the product improving joint damage. RIGL plunges 34 percent in early trading.
Radware Misses Expectations
Radware said first-quarter revenue was just $45 million because of weak sales in Europe and China. The provider of data-center applications had previously forecast $48.5 million to $49.5 million. That miss has RDWR lower by 18 percent in the premarket.
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