Internet router maker Juniper Networks (JNPR) - Get Juniper Networks, Inc. (JNPR) Report recovered from a morning low of 41.37, rising 17.4% by late afternoon, amid rumors of a possible merger with Redback (RBAK) . The rumor was largely discounted by analysts.
Juniper met expectations with first-quarter earnings of 25 cents per share, on sales of $332.1 million vs. $63.9 million a year ago. The company revised estimates for the second quarter to 25 cents a share, 1 cent lower than analysts' expectations, on slowing sales.
Redback was up 14.2%, after beating Street expectations Wednesday with a first-quarter loss of 13 cents a share. Analysts were calling for a 15-cent loss.