Akamai and Limelight Down After Juniper Networks Acquisition

Juniper (NYSE:JNPR) announced on Monday that it is acquiring service management software developed by Tata Communications’ (NYSE:TCL) BitGravity, a Content Delivery Network subsidiary. This move preceded Akamai (NASDAQ:AKAM) closing down 0.9% and Limelight (NASDAQ:LLNW) down 2.4% today; the two companies are owners of CDN. An out-of-the-box CDN solution to carriers is provided by the combination of BitGravity’s software and its media flow hardware, according to Juniper.

Here’s how these stocks are reacting to the news:

Juniper Networks, Inc. (NYSE:JNPR): JNPR shares recently traded at $22.54, down $0.45, or 1.96%. They have traded in a 52-week range of $16.67 to $45.01. Volume today was 9,686,771 shares versus a 3-month average volume of 9,575,070 shares. The company’s trailing P/E is 23.75, while trailing earnings are $0.95 per share.

Akamai Technologies Inc. (NASDAQ:AKAM): AKAM shares recently traded at $31.72, down $0.32, or 1%. They have traded in a 52-week range of $18.25 to $49.60. Volume today was 3,403,984 shares versus a 3-month average volume of 4,792,030 shares. The company’s trailing P/E is 31.25, while trailing earnings are $1.01 per share.

Tata Communications Limited (NYSE:TCL): TCL shares recently traded at $9.14, up $0.25, or 2.81%. They have traded in a 52-week range of $6.74 to $11.75. Volume today was 27,764 shares versus a 3-month average volume of 51,831 shares. The company’s trailing earnings are $-1.00 per share.

Limelight Networks, Inc. (NASDAQ:LLNW): LLNW shares recently traded at $3.27, down $0.08, or 2.39%. They have traded in a 52-week range of $1.95 to $8.58. Volume today was 827,995 shares versus a 3-month average volume of 975,434 shares. The company’s trailing earnings are $-0.24 per share.