Jana Partners LLC has taken a large stake in Juniper Networks Inc, a move that comes at a time when the network gear maker is being urged by one of its prominent investors to increase shareholder returns. Intensifying competition among U.S. telecom companies to expand their offerings has been a boon for network equipment makers such as Juniper, Riverbed Technology Inc and F5 Networks Inc, which has in turn caught the attention of activist investors.Hedge fund Jana did not disclose the quantum of its investment in Juniper, but said it is now one of the largest shareholders in the company, according to a letter to investors that was seen by Reuters.Jana estimates Juniper could potentially save $300 million by implementing certain business plans it suggested. It also wants the tech firm to start paying out dividends, a demand also echoed by peer Elliott Management Corp, which disclosed a 6.2 percent stake in Juniper.Elliot, run by Paul Singer, had earlier urged Juniper to purchase back shares, start paying a dividend and consider cutting costs.
F5 Networks, Inc. is a provider of Application Delivery Networking (ADN) technology that secures and optimizes the delivery of network-based applications and the security, performance and availability of servers, and other network resources. Shares of FFIV traded higher by 5.14% or $5.01/share to $102.49. In the past year, the shares have traded as low as $67.53 and as high as $109.00. On average, 1962040 shares of FFIV exchange hands on a given day and today's volume is recorded at 7226211.
Juniper Networks, Inc. (Juniper Networks) designs, develops, and sells products and services that together provide its customers with network infrastructure. Shares of JNPR fell by 0.65% or $-0.17/share to $26.01. In the past year, the shares have traded as low as $15.62 and as high as $26.52. On average, 8513660 shares of JNPR exchange hands on a given day and today's volume is recorded at 12281022.
Riverbed Technology, Inc. (Riverbed) has developed solutions to the fundamental problems associated with information technology (IT) performance across wide area networks (WANs). Shares of RVBD fell by 4.21% or $-0.88/share to $20.01. In the past year, the shares have traded as low as $13.77 and as high as $21.07. On average, 3587470 shares of RVBD exchange hands on a given day and today's volume is recorded at 5071889.
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