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PSS World Medical, Inc. (NASDAQ:PSSI): athenahealth (NASDAQ:ATHN), a provider of billing services to medical practices, retreats after PSS Worldwide agreed to be acquired by McKesson Worldwide (NYSE:MCK). Currently, PSS Worldwide sells athenahealth’s services to physicians, and in a note given to investors earlier in the day, Citigroup analyst George Hill made the prediction that PSS gains less than 5 percent of new physician customers for athenahealth per year. Additionally, Hill quoted McKesson as stating that it has not intentions to immediately “distort or dismantle” any of PSS’ relationships “without careful evaluation.” The relationship between PSS and athenahealth will probably be derailed over the long-term, and athenahealth should have the opportunity to increase its sales capacity as a means to compensate for the change, according to Hill, who decided to keep a Buy rating and a $100 price target on the stock. In late morning trading, athenahealth saw a $1.38, or 2.06 percent, to $65.43 fall. The shares are well off their low for the day of $58.91.
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Cisco Systems, Inc. (NASDAQ:CSCO): New technology assisting in directing the flow of information around data centers continues to become more and more common in gear developed by Cisco Systems Inc.’s competitors, which challenges the Silicon Valley pioneer’s dominance in the core router-and-switch market. The concept, which has been named software-defined networking, or SDN, enables companies to treat the mish-mash of equipment underpinning their data centers as if they were a single system. A number of products use a standard known as OpenFlow, which analysts claim have the ability to let companies buy more generic routers and switches and then reprogram them for their networking needs.
LSI Corporation (NYSE:LSI) shares increased on Thursday although the company’s Q3 revenue and Q4 outlook was short of Wall Street estimates. The Milpitas, Calif., company stated late on Wednesday that its net income saw a 35 percent increase during Q3. The company earned 17 cents per share with the exclusion of one-time costs, and its revenue saw a 14 percent rise to $624 million. Analysts predict that there will be a net income of 17 cents per share and $638.1 million in revenue, reports FactSet.
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