Boston, MA 10/09/2014 (wallstreetpr) – Application networking solutions provider A10 Networks Inc (NYSE:ATEN) has warned that its third quarter revenue would be much lower than it had previously anticipated. The warnings came when the company declared its preliminary third quarter operation results for period ending 30th September. It anticipates worldwide revenue for 3Q to come in the range of $43.0 million to $43.5 million as against its previous estimates of $48.0 million to $50.0 million. The slowdown in revenue recognition has been linked to the lesser than anticipated demand in the U.S markets, the company officials noted. Investors exited the stock of A10 Networks Inc (NYSE:ATEN) enmass yesterday post the preliminary news release. The stock was down 42 percent yesterday.
On 8th October, Biopharmaceutical firm Arrowhead Research Corp (NASDAQ:ARWR) released data and corresponding results from phase 2 testing of its drug candidate ARC-520 which is designed to treat hepatitis B. The unconvincing data triggered a huge slide in the share price of the stock. The share price was down 43.8 percent by end of days trading yesterday. The drug maker announced that the tests showed a marginal 0.3 log reduction in the count of HBsAG as against the primary end goal of achieving 1-log reduction. The data will be presented for peer review by the drug firm at the American Association for the Study of Liver Disease conference scheduled for November this year.
Digital rights management solutions provider ContentGuard which is a fully owned subsidiary of Pendrell Corp (NASDAQ:PCO) announced the launch of a new messaging app called YoYo. The USP of the newly launched messaging app, is that it will allow its customers to protect the photos and messages they send and store on their mobile devices by using proprietary, new age scrambling technology. The technology will prevent the capture and transferring of photos and other messages out of the device, without the owner’s consent. The app also comes equipped with a host of new features like ability to mask part or whole of a photo and set time limits for the sent photos to self delete.