Diamonds and Dogs
Ooooooh Barracuda!!! Barracuda Networks (CUDA) has been on a roll this year up 13% today thanks to better than expected earnings. Following earnings the CEO said it was a good quarter in large part to strength in their email security offerings delivered through the cloud and their network and application security solutions that go through the cloud as well. Barracuda has added 1,000 customers to their cloud e-mail security package of which 300 were new to the company, demonstrating the impact the cloud business is having on their business. The cloud is the future and Barracuda Networks is taking advantage of this theme.
Ericsson (ERIC) has seen better days. One of the world's largest makers of networking equipment reported third quarter earnings significantly lower than the company's previous expectations. Shares are down plummeted 20% to a new 52-week low. The company said the sales decline in its networks segment was mainly driven by markets with a weak macroeconomic environment, citing Brazil, Russia and the Middle East.