Rochester, NY 7/9/2009 10:09:59 PM
Stock Exchange News - HLIT - HLIT Downgraded Lead of the Bell - Sourced WhisperFromWallStreet.com
Harmonic Inc.
Stock Exchange News - HLIT - HLIT Downgraded Lead of the Bell - Sourced WhisperFromWallStreet.com
COMPANY - Harmonic Inc.,HLIT
NEWS - Jefferies & Co. downgraded Harmonic Inc. on Wednesday, citing pressure on prices, a likely decline in revenue from satellite TV providers and an uncertain outlook for the company's digital video networking unit.Shares of the Sunnyvale, Calif. company fell 11 cents to $5.88 in premarket trading.In a note Wednesday, Jefferies analyst George Notter cut shares to "Hold" from "Buy" and moved his price target to $6 from $8.Harmonic, which provides broadcast and on-demand video delivery systems, has seen intensifying pressure on prices for its equipment, Notter said.
Real-Time: 5.52 Up 0.15 (2.79%) 10:51AM ET
Last Trade: 5.49
Day's Range: 5.33 - 5.55
52wk Range: 3.76 - 9.78
Volume: 249,776
ABOUT - Harmonic Inc. designs, manufactures, and sells video products and system solutions that enable service providers to deliver broadcast and on-demand services. Its broadcast and on-demand services include high-definition television, video-on-demand, network personal video recording, and time-shifted TV. The company offers video processing products, including divicom encoders, statistical multiplexing solutions, stream processing products, and decoders and descramblers; and edge and access products, such as edge products, optical transmitters and amplifiers, and optical nodes and return path equipment.
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