Not content with its dominant position in telecom equipment, Juniper Networkstook aim at the security sector today.
Juniper’s $4 billion acquisition of NetScreenwas a shot across Cisco’sbow, with NetScreen’s enterprise customer base setting up potential competition with Cisco.
The acquisition was also viewed as creating opportunities for Avici, Check Point, Cyberguard, Internet Securityand SonicWall, all of which rose on the news.
The broader market slipped ahead of testimony to Congress by Fed Chairman Alan Greenspan.
The Nasdaq slipped 3 to 2060, the S&P 500 lost 2 to 1139, and the Dow fell 14 to 10,579. Volume declined to 1.28 billion shares on the NYSE, and 1.76 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 17-14 on the Nasdaq. Upside volume was 52% on the NYSE, and 50% on the Nasdaq. New highs-new lows were 289-6 on the NYSE, and 215-6 on the Nasdaq.
After the close, FindWhat.comwarned and amended its agreement to acquire Espotting.
During the day, PeopleSoftlost 2% after rejecting Oracle’slatest offer.
InterActiveCorprose 3% after beating estimates.
Silicon Labsjumped 12% on a new wireless amplifier.
EDSfell 3.6% after abandoning plans for a software IPO.
Z-Telrose 15% on a VoIP offering.
ClickSoftwarefell 14% on its earnings report.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.