Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

JP Morgan Cuts Network Associates to 'Market Perform'


JP Morgan cut Network Associates (NET) to market perform from buy.

Analyst Sterling Auty says the trigger of the SEC's investigation unknown at this point. He added that there's no time frame to a resolution. Auty also notes the company changed revenue recognition to sell through in the fourth quarter of 200, which had a big impact on revenues. He thinks this would be the focus of the proble.

While the investigation will not impact operations in his opinion, Auty says he's looking at old issues, which will be a cloud over the stock until the investigation is resolved. Auty says he'll review his rating as the visibility of the SEC review becomes clearer, and as valuation becomes more compelling, or another catalyst emerges.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus