Here’s Why Computer Networking Stocks are Getting Drop Kicked Now
Riverbed Technology(NASDAQ:RVBD) is getting slammed over 25% after delivering disappointing earnings. The tech company missed Q2 revenue estimates and said profits will come in under expectations in Q3. Riverbed’s revenue rose 35% year over year to $170.3 million ($0.21 EPS). Unfortunately for Riverbed shareholders, Wall Street expected revenues of $173 million.
The miss has computer networking investors spooked about end demand. Investors are also fleeing these stocks now and will ask questions later: Juniper Networks, Inc. (NYSE:JNPR), F5 Networks, Inc. (NASDAQ:FFIV), Acme Packet, Inc. (NASDAQ:APKT), Citrix Systems, Inc. (NASDAQ:CTXS), Polycom, Inc. (NASDAQ:PLCM), and Allot Communications Ltd. (NASDAQ:ALLT).