Boston, MA 06/09/2014 (wallstreetpr) – NetApp Inc. (NASDAQ:NTAP) has got something to cheer up for this quarter even though the company lost a storage deal with International Business Machines Corp (NYSE:IBM). IBM announced it would end its storage solutions deal with NetApp in May 2014. Sources reveal that IBM accounted for about 2 percent of NetApp’s revenue. However, NetApp just landed a deal with ING Vysya.
NetApp Inc. (NASDAQ:NTAP) secured storage solutions deal from ING Vysya Bank. NetApp will the Indian bank to build an effective ecosystem across all of its more than 550 branches in India. The project will enable ING Vysya to serve more than 2 million customers across the country through online and mobile banking platforms.
The financial details of the deal were not disclosed.
NetApp (NASDAQ:NTAP) only trails EMC Corporation (NYSE:EMC) in the provision of open network disk storage solutions. The company earned $0.84 per share on revenue of $1.65 billion in the most recent quarter. Wall Street expected earnings of $0.79 per share for the quarter.
Lululemon Athletica inc. (NASDAQ:LULU) is expected to post improved performance in the upcoming reporting this week. Although the company is struggling to grow sales and profits amid intense competition and high costs, LULU has kept its earnings above board in four of the recent past quarters.
Analysts believe the company will maintain its growth trend when it reports 1Q2014 this Thursday. Therefore, the company is expected to see more than a 10 percent increase in top line and EPS of $0.32, almost flat as a year ago. The previous four quarter saw the company exceeding EPS expectations by a range of 4 – 11 percent.
Lululemon (NASDAQ:LULU) is pushing into overseas markets and new categories to repair its top line, which is under threat because of competition. The company earned $0.75 per share on revenue of $512 million in the most recent quarter. That compared with the consensus estimate of $0.72 per share on revenue of $516 million for the quarter.
CA, Inc. (NASDAQ:CA) announced that a Gartner research for IT Project and Management Software Application placed its technology in that category at the top with a “Strong Positive” rating. The company further stated that the latest development marked the third consecutive time that it has received “Strong Positive” rating. Only two vendors receive the top rating this year.
