Diamonds and Dogs
Paychex (PAYX) is ringing the register. The Rochester based payment processing company is up 3.5% not far from its 52 week high following better than expected earnings. Paychex also raised its revenue outlook and projected sales growth to 12-14%, up from 8-10% projected earlier.
F5 Networks (FFIV) going the wrong direction. The networking company is down 4% not far from a 52 week low on a downgrade this morning. The stock has suffered quite a selloff since March, when the stock hit a 52-week high of $149.50 a share. Deutsche Bank's Vijay Bhagavath warns that it could lose another 25% in the next year. Bhagavath already rates the stock at a sell. Today, he cut his price target on the network technology vendor from $100 to $90 a share, warning that increased competition and other factors could detract from earnings growth.