Mixed results - GRUB/FTNT/INFN etc

Results season is in full swing and plenty of stocks reported yesterday for me. Whilst the underlying business performance is the most interesting for me to follow I couldn’t help but notice some pretty wild movements and some fairly surprising reactions…

Stocks of interest to me that reported were:

INFN really dropped their performance and guided downwards with a lot of uncertainty so they go taken to the woodshed as a result - harsh but nothing surprising. I won’t dissect this further as it has been well covered in other threads.

CY which I hold thanks to their acquisition of Spansion did a meet and beat and got a 3% AH rise

After that it gets more bizarre…

ABMD announced accelerated growth and a beat and raise which looked stunning and the sp went down on the day.

GRUB - reported more of the same same kind of performance (strong growth) but with the background concerns over competitors has been ignored or gone down over the last year. Strangely enough they were rewarded with a 24% rise in their SP. I will take it but I find it strange.

Mitek had a huge beat and raise and they only went up 1%

Synaptics had a meet and beat and got hit with a 3.5% drop AH.

The one I find most bizarre is the continued strong performance by Fortinet. The had a beat and raise and they got hit with an 10% AH drop in the SP. Presumably because the raise wasn’t as much as analysts liked. That something I just don’t get - if it is a raise above estimates how can it disappoint expectations.



Found an article on thestreet talking about FTNT. Basically they’re claiming that the stock price dropped because of soft future guidance for next quarter and the rest of the year:


However, every other source I can find seems to indicate that they actually slightly raised guidance for the rest of the year, it’s odd that their stock price would tank.

Yeh exactly - pretty weird. I guess everyone is nervous given Imperva warned.

Having said that all the cyber security players have been on a tear this week including: Fortinet, Imperva, Palo Alto, Fire Eye, Proof point, Sophos etc.

All very strange.

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CYBR is up almost 50% in the last 6 months. However, it’s down for the last year. Very volatile but I continue to hold it.


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