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Juniper Networks shareholder calls for new strategy
2014-01-14 07:05:00| Telecompaper Headlines
(Telecompaper) Juniper Networks has a new activist shareholder, who has called on the company to cut costs and return more cash to shareholders. Elliott Associates reported a 6.2 percent stake in the network equipment maker and filed a presentation with the SEC on how it would like to see things change at Juniper. Elliott said the company's shares have underperformed, due to an "outsized cost structure, inefficient capital structure, poor M&A track record and execution issues caused by unsuccessful extensions into security and enterprise switching". To improve the performance, the new shareholder would like Juniper to start a programme to cut annual costs by USD 200 million, buy back USD 3.5 billion in shares by the end of 2015 and pledge to return 50 percent of free cash flow to shareholders, and streamline its portfolio, including a review of the security and switching activities. Juniper said it had received the presentation but not yet held talks with Elliott. The company defended its record, noting five consecutive quarters of year-over-year revenue growth, continued efforts to streamline the company's cost base and 105 percent of free cash flow returned to shareholders in the last three years.
Tags: strategy
networks
calls
shareholder
Juniper Networks lands in Elliot Management's cross hairs
2014-01-14 04:10:21| Telecom - Topix.net
Juniper Networks has been targeted by activist hedge fund Elliott Management, which will seek cost cuts, stock buybacks and other changes at the networking-gear maker.
Tags: cross
networks
lands
elliot
Elliott urges Juniper to buy back shares, cut costs
2014-01-13 19:56:09| Telecom - Topix.net
Juniper Networks Inc shareholder Elliott Management Corp urged the network equipment maker to buy back shares, streamline its product line and cut costs to boost shareholder value.
Cyberport Selects Juniper Networks Contrail to Drive Software-Defined ...
2013-12-31 06:47:30| Telecom - Topix.net
The new offering from Cyberport is designed to give ICT start-ups hands-on experience with a state-of-the-art cloud environment and serve as a gateway to public cloud services.
Tags: drive
networks
selects
juniper
Juniper exec Muglia abruptly quits
2013-12-12 13:33:41| InfoWorld: Top News
Bob Muglia, executive vice president of Juniper Networks' software solutions division, has abruptly resigned from the company following the appointment of a new CEO.Juniper confirmed Muglia's departure via this emailed statement: "We can confirm that Bob Muglia is leaving Juniper Networks effective Tuesday, December 10. We thank Bob for his contributions to Juniper and wish him well in his future endeavors.
Tags: exec
juniper
abruptly
quits
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