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What: Shares of Juniper Networks (Nasdaq: JNPR ) jumped today by as much as 15% after the company reported preliminary earnings and announced a partnership with Riverbed Technology (Nasdaq: RVBD ) yesterday.
So what: Second-quarter revenue fell 4% to $1.1 billion, with adjusted net income of $103 million, or $0.19 per share. The results bested analyst expectations, but third-quarter guidance fell a little short due to macroeconomic concerns. Adjusted earnings per share are expected to be between $0.15 and $0.18 in the third quarter.
Now what: The networking specialist also announced a partnership with Riverbed, licensing its application delivery controller technology for use in its gear. Juniper is paying $75 million up front to Riverbed. Analysts expect telecom spending, which comprises over 60% of sales, to bounce back in the second half of the year. Juniper also has a new product lineup that will begin ramping up soon.
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