Not content with its dominant position in telecom equipment, Juniper Networks took aim at the security sector today.
Juniper’s $4 billion acquisition of NetScreen was a shot across Cisco’s
bow, 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 Security
and 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.com warned and amended its agreement to acquire Espotting.
During the day, PeopleSoft lost 2% after rejecting Oracle’s
latest offer.
InterActiveCorp rose 3% after beating estimates.
Silicon Labs jumped 12% on a new wireless amplifier.
EDS fell 3.6% after abandoning plans for a software IPO.
Z-Tel rose 15% on a VoIP offering.
ClickSoftware fell 14% on its earnings report.
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