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Stock Alert: Arista Networks Falls

Shares of Arista Networks, Inc. (ANET) are sliding in early trading on more than average volume. ANET opened on Friday at $217.50, sharply down from its previous close of $237.62. Currently ANET shares are trading at $221.78, down 6.57 percent.

On Thursday, Arista announced that it acquired Big Switch Networks, a network monitoring and Software Defined Networking pioneer.

The computer networking company reported fourth quarter net profit of $260.69 million, up from $170.32 million a year ago. On a per share basis earnings were $3.25, down from $2.10 in the prior year. On an adjusted basis, profit was $2.29 per share.

Revenue for the fourth quarter declined 7.2 percent to $552.5 million from $595.73 million last year.

The company now expects first-quarter revenue of between $522 million to $532 million. On an adjusted basis, gross margin is projected to be approximately 63 percent.

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