NetApp Down Over 13%, on Track for Largest Percent Decrease Since August 2011 -- Data Talk

NetApp Inc. (NTAP) is currently at $67.33, down $10.70 or 13.72%

-- Would be lowest close since May 29, 2018, when it closed at $66.96

-- On pace for largest percent decrease since Aug. 18, 2011, when it fell 14.05%

-- On Wednesday, NetApp reported second-quarter profit of $241 million, or 91 cents a share, compared with $174 million, or 63 cents a share, a year ago. Revenue rose 7% to $1.52 billion from $1.42 billion a year earlier. Analysts had expected $1.59 billion of revenue in the quarter

-- Earlier Thursday, Benzinga reported that Citigroup cut its price target on NetApp to $77.00/share from $83.00/share, and that Maxim Group cut its price target to $89.00/share from $91.00/share

-- Worst two day stretch since the two days ending Nov. 18, 2011, when it fell 14.73%

-- Down 14.22% month-to-date

-- Up 21.71% year-to-date

-- Down 54.7% from its all-time closing high of $148.62 on Oct. 20, 2000

-- Down 23.42% from its 52 week closing high of $87.92 on Sept. 4, 2018

-- Down 13.72% at today's intraday low; largest intraday percent decrease since Feb. 15, 2018, when it fell as much as 14.25%

-- Second worst performer in the S&P 500 today

All data as of 11:11:21 AM

Source: Dow Jones Market Data, FactSet

(END) Dow Jones Newswires

November 15, 2018 11:39 ET (16:39 GMT)

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