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NetGear Inc. (NTGR) Pulled Back Following Q4 Report

NetGear Inc. (NTGR) reported fourth quarter EPS of $0.71 after the bell Tuesday, down from $0.88 in the prior year. Analysts expected EPS of $0.64.

The company also announced its Board has unanimously approved the pursuit of a separation of its Arlo business from NETGEAR. The separation is expected to be effected through an initial public offering of newly issued shares of the common stock

NetGear declined for the majority of Wednesday's session and closed down by 10.35 at $57.05 on the highest volume of the year. The stock fell to over a 1-month low.

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