Ubiquiti Networks (UBNT) slides on CFO departure, Q3 results

Ubiquiti Networks Inc UBNT shares declined 4.6% to $30.00 after the company announced the resignation of its CFO Craig Foster and reported weak preliminary Q3 results. BMO Capital downgraded Ubiquiti Networks from outperform to market erform and lowered the price target from $34.00 to $26.00. Share volume was 1.2 million, compared to an all-day average of 823,000