Links/Catalyst.Added GIMO at 17.50 for a bounce swing trade. Avg cost is 17.71 looking to add more on dips.
Stock is down from 37 in two weeks. It is oversold by almost every technical measure. They had a small revenue revision from a client who has delayed a purchase. It sounds like the company is still working on winning the client's business in the next quarter. They will report earnings on April 24 after the bell, the stock should have a nice run-up into earnings. Also around half of the float has traded in two days this is often a sign of a bottoming process. GIMO has become a value and a growth stock at this price level imo.
http://finviz.com/quote.ashx?t=GIMO&ty=c&ta=1&p=d&b=1
http://stockcharts.com/h-sc/ui?s=GIMO&p=D&b=5&g=0&id=p49638880564
Gigamon Announces Preliminary First Quarter Results
http://finance.yahoo.com/news/gigamon-announces-preliminary-first-quarter-200500645.html
Pasted. Stock is being defended by 3 analysts now Goldman, DA Davidson and Needham and co.
April 9, 2014
10:05 EDT GIMO Gigamon upgraded to Buy from Neutral at DA Davidson
DA Davidson upgraded Gigamon to Buy from Neutral based on valuation.
April 9, 2014
10:20 EDT GIMO High option volume stocks: CZR STZ TCK GIMO NCR
10:05 EDT GIMO Gigamon upgraded to Buy from Neutral at DA Davidson
April 8, 2014
16:21 EDT GIMO On The Fly: Closing Wrap
12:12 EDT GIMO On The Fly: Midday Wrap
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12:00 EDT GIMO Gigamon falls 32.9%
Gigamon is down 32.9%, or $8.61, to $17.59
10:31 EDT GIMO Gigamon slips after missed deal prompts lower Q1 outlook
Shares of Gigamon (GIMO), which offers solutions to control and manage network traffic, are slipping after the company lowered its first quarter revenue outlook based on the fall-out of a large deal with an existing customer. WHAT'S NEW: Last night, Gigamon reduced its first quarter revenue view to $31M-$31.5M from its previous outlook of $34M-$35M. Prior to the company's warning, analysts consensus revenue estimate was $34.8M. The company attributed the lowered revenue to one expected large transaction from an existing customer in EMEA that did not transpire. Other transactions that were anticipated to close late in the quarter slipped into the second quarter, Gigamon noted, adding that these factors also affected the company's first quarter gross margin outlook. Gigamon pegged its Q1 gross margins to be approximately 71%-72%, versus prior guidance of 78%-79%. ANALYST REACTION: This morning, Pacific Crest downgraded Gigamon to Sector Perform from Outperform. Analyst Josh Beck said that the company's efforts to build out its international sales force are taking longer than the firm would have expected. Beck added that it is unclear whether the margin depression is a one-time event or a trend, adding that sustained compression would alter the firm's view of the company's competitive positioning. Meanwhile, Goldman Sachs said that it feels that Gigamon's share weakness due to the shortfall of one large deal is overdone. The firm believes that Gigamon does not feel the deal was lost to a competitor and is on indefinite postponement. Goldman lowered its price target on Gigamon to $32 from $43, but maintains its Buy rating on the stock, which it noted trades at a discount to peers. PRICE ACTION: During morning trading, shares of Gigamon fell over 32% to $17.77.
10:28 EDT GIMO High option volume stocks: GIMO SOCL SPLK NOK CSOD
10:03 EDT GIMO On The Fly: Analyst Downgrade Summary
10:00 EDT GIMO Gigamon falls 29.8%
09:00 EDT GIMO Gigamon falls 23.1%
08:56 EDT GIMO Gigamon shares defended at Goldman
Goldman believes Gigamon share weakness due to the Q1 miss attributable to one large deal is overdone. The firm notes that Gigamon does not believe the deal was lost to a competitor and is on indefinite postponement. The firm lowered its price target on Buy rated Gigamon to $32 from $43 and said shares trade at a discount to peers.
08:05 EDT GIMO Gigamon volatility expected to move after cutting Q1 revenue outlook
07:52 EDT GIMO Gigamon downgraded at Pacific Crest
Gigamon (GIMO) Issue 'Isolated', Buy on Weakness - Needham & Company
April 8, 2014 7:23 AM EDT
06:52 EDT GIMO Gigamon downgraded to Sector Perform from
April 7, 2014
19:05 EDT GIMO On The Fly: After Hours Movers
LOWER: Gigamon (GIMO), down 24% after cutting its first quarter revenue outlook, which the company attributed to one expected large transaction from an existing customer that did not materialize... James River Coal (JRCC), down 44% after filing for Chapter 11 bankruptcy... Trading lower after filing to sell stock were Nordic American Tanker (NAT), down 8.5% after filing to sell 10M common shares, and Voxeljet (VJET), down 4.7% after filing to sell 4M American Depository Shares, including 1M for selling holders.
16:54 EDT GIMO Gigamon down over 24% to $19.80 following reduced Q1 revenue outlook
16:17 EDT GIMO Gigamon lowers Q1 revenue view to $31M-$31.5M from prior $34M-$35M
Q1 consensus $34.81M. Gigamon expects revenue for the first quarter to be approximately $31M-$31.5M, below the company's previously stated guidance of $ 34M-$35M. The revenue shortfall was primarily attributable to one expected large transaction from an existing customer in EMEA that did not materialize. In addition, certain other transactions that were expected to close late in the quarter slipped into the second quarter. GAAP gross margins are expected to be in the range of 70%-71%. Non-GAAP gross margins are expected to be approximately 71%-72%, compared to guidance of 78%-79%. The lower gross margins are due to an excess inventory charge of approximately $2.3M in the quarter related to the transaction in EMEA that did not materialize and other changes in our product mix. Without the charge, GAAP gross margins would have been approximately 77%-78% and non-GAAP gross margins would have been approximately 78%-79% as discount trends fell within historical norms. "While we are disappointed in these preliminary results, we remain confident in our business strategy and the market opportunity," said Paul Hooper, the company's CEO. "We did not see any material change within the competitive landscape during the first quarter and we are encouraged by our initial assessment of our second quarter pipeline."
16:15 EDT GIMO Gigamon lowers Q1 revenue view
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