Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


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.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Citigroup Cuts Extreme Networks to Hold from Buy

Citigroup downgraded Extreme Networks (EXTR) to hold from buy, after the company cut its third quarter revenue guidance.

The company said late Thursday it expects net revenue for the quarter of $84 million to $85 million. This is below the company's previous expectations of $90 million to $95 million.

Analyst B. Alexander Henderso notes this is the second quarter in a row that Extreme Networks negatively preannounced. Its sales execution rebound, which had been expected in the US and Japan, didn't materialize. Meanwhile European revenue rose sequentially. He thinks Extreme Networks has company-specific sales execution problems, although he sees better potential for a near term turnaround at Radware given recent attrition in Extreme's US salesforce. He cut his 24 cents fiscal year 2006 (ending June) earnings per share (EPS) estimate to 16 cents and his 27 cents fiscal year 2007 estimate to 21 cents. He lowers his $6.50 stock price target to $5.

blog comments powered by Disqus