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Stock Market & Financial Investment News

News Breaks
May 31, 2013
16:22 EDTOVTI, PANW, AIG, KKDOn The Fly: Closing Wrap
Stocks on Wall Street were lower after the averages fell sharply in the final hour of trading. The averages moved in a narrow range near the flatline for much of the session, and despite the late-day selloff, each of the major indices finished the month with marked gains, going against the "sell in May" theory. ECONOMIC EVENTS: In the U.S., personal income was reported to be flat in April, versus expectations of an increase of 0.1%, while personal spending fell 0.2% in the month, versus the consensus forecast for it to be unchanged. The ISM-Chicago business survey had a reading of 58.7, versus an expected reading of 50.0. The University of Michigan consumer confidence report came in at 84.5, versus expectations for a reading of 83.7. COMPANY NEWS: American International Group (AIG) lost $1.75, or 3.79%, to $44.46, after the company disclosed that a Chinese group that has agreed to buy up to 90% of International Lease Finance Corporation common stock missed a deposit deadline. AIG has previously said asset sales will be key to funding its capital return plans, potentially including share buybacks. MAJOR MOVERS: Among the notable gainers following their earnings reports and better than expected guidance were OmniVision (OVTI),up $2.978, or 19.24%, to $18.47, and Krispy Kreme (KKD), up $3.06, or 21.46%, to $17.32. Among noteworthy losers was Palo Alto Networks (PANW), $5.87, or 10.795, to $48.52 after its third quarter revenue missed the Street view and its fourth quarter outlook came in below expectations. INCDICES: The Dow lost 208.96, or 1.36%, to 15,115.57; the S&P lost 23.87, or 1.43%, to 1,630.74; the Nasdaq lost 35.39, or 1.01%, to 3,455.91.
News For AIG;OVTI;KKD;PANW From The Last 14 Days
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November 21, 2014
14:49 EDTPANWPalo Alto volatility elevated into Q1 and outlook
Palo Alto November weekly call option implied volatility is at 65, December is at 51, January is at 46, March is at 42; compared to its 26-week average of 52 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on November 24.
08:19 EDTPANWPalo Alto results, guidance should beat expectations, says JMP Securities
JMP Securities expects Palo Alto's Q1 results and its guidance to beat consensus estimates. The firm thinks the company benefited from strong demand for next generation security technologies as well as share gains from legacy firewall vendors.
November 20, 2014
08:00 EDTPANWPalo Alto Q1 business looks to be beating consensus, says Oppenheimer
Oppenheimer believes that its checks suggest that Palo Alto's business is tracking ahead of consensus estimates. The firm thinks the company has continued strength across all core products and geographies. It raised its price target on the name to $120 from $115 and keeps an Outperform rating.
November 19, 2014
09:01 EDTPANWBig data for security could reach $4B-$5B, says FBR Capital
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November 18, 2014
10:15 EDTPANWPalo Alto price target raised to $120 from $110 at Imperial Capital
Imperial Capital raised its price target for Palo Alto Networks to $120 ahead of the company's Q1 results and keeps an Outperform rating on the stock. The firm says Palo is "emerging as a dominant player in security."
07:21 EDTPANWPalo Alto price target raised to $125 from $105 at Stephens
Stephens said it expects Palo Alto's Q1 results to beat consensus estimates, citing the firm's positive channel checks. The firm, which believes Palo Alto is continuing to take market share, raised its price target on the stock to $125 from $105 and maintains its Overweight rating on the shares.
November 17, 2014
06:48 EDTPANWState Department hacked, NY Times reports
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November 16, 2014
19:34 EDTPANWFinancial services firms plan $2B increase in cybersecurity spending, WSJ says
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November 14, 2014
17:13 EDTAIGAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
16:58 EDTAIGThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
November 11, 2014
10:00 EDTPANWOn The Fly: Analyst Initiation Summary
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07:19 EDTPANWBarracuda, Imperva, Palo Alto should be bought, says Pacific Crest
Pacific Crest recommends buying Barracuda (CUDA), Imperva (IMPV), and Palo Alto (PANW), as the firm expects IT security to continue growing strongly. The firm thinks the companies named have compelling margins and free cash flow.
06:10 EDTPANWPalo Alto initiated with an Outperform at Macquarie
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November 10, 2014
15:43 EDTPANWAmerican Petroleum Institute to hold a conference
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14:38 EDTPANWU.S. Postal Service suffered cyberattack, NY Times reports
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