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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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December 22, 2014
06:44 EDTPANWPalo Alto price target raised to $150 from $130 at Piper Jaffray
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December 18, 2014
10:19 EDTPANWSony hack fallout highlights value of IT security spending, analyst says
The hacking of Sony's (SNE) Sony Pictures unit shows that spending more on IT security is worthwhile for companies, Wells Fargo analyst Gray Powell wrote in a note to investors today. WHAT'S NEW: Sony has decided not release the film "The Interview" as planned on December 25, due several theater chains' plans to not show the movie amid threats, CNBC reported. The New York Times said American intelligence officials have determined that the North Korean government was “centrally involved” in the cyber attacks on Sony Pictures. Sony's experience shows that being hacked is much more costly than spending on IT security, Powell stated. After being hacked, Sony has had to cancel the release of its film "The Interview," which it spent $ 42M to make, and it will have to spend more money on fixing the security breach and defending itself against lawsuits triggered by the incident, the analyst stated. Additionally, the company's brand has been damaged, Powell believes. By contrast, Sony spends just $20M per year on IT security, the analyst roughly estimated. Incidents like the hacking of Sony will cause companies to spend a higher percentage of their budgets on IT security next year, according to Powell. He kept Outperform ratings on IT security companies Check Point (CHKP), FireEye (FEYE), Fortinet (FTNT), Palo Alto (PANW), and Proofpoint (PFPT). WHAT'S NOTABLE: Analysts at B. Riley said IMAX (IMAX) and RealD (RLD) could benefit from Sony's cancellation of "The Interview" due to the demand shift towards their respective film slates. The analyst believes both IMAX and RealD could generate an incremental 1c in EPS during the period. PRICE ACTION: In early trading, FireEye jumped 5% to $30, Palo Alto advanced 3.2% to $123.87, Proofpoint gained 2% to $47.87 and Check Point climbed 1.4% to $78.16.
December 17, 2014
09:03 EDTKKDKrispy Kreme reaffirms FY15 adjusted EPS view 69c-74c, consensus 72c
The company expects to record a charge to earnings in the fourth quarter of fiscal 2015 for payments to be made pursuant to the terms of Mr. Morgan’s employment agreement. The charge is not expected to have any effect on adjusted net income or adjusted EPS. Accordingly, management is reaffirming its forecast of adjusted net income for fiscal 2015 of between $48M-$51M, or 69c-74c per share.
09:02 EDTKKDKrispy Kreme announces Jim Morgan to transition to non-executive chairman
Krispy Kreme Doughnuts announced that James H. Morgan, age 67, will transition from Executive Chairman of the Board of Directors of the Company to non-executive Chairman effective January 29, 2015. Morgan served as President and CEO of the Company from January 2008 until June 2014. He has served on the Company’s Board of Directors since 2000 and has served as Chairman of the Board since 2005. Robert S. McCoy, Jr. will continue as the Board’s lead independent director, a position he has held since 2008.
December 12, 2014
15:07 EDTKKDKrispy Kreme management to meet with Wedbush
Meeting with CEO Thompson and CFO Muir will be held in Chicago on December 18 hosted by Wedbush.
08:09 EDTAIGBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
05:34 EDTKKDKrispy Kreme expands in South Korea
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December 11, 2014
12:02 EDTPANWPalo Alto to host special shareholder meeting
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10:51 EDTPANWPalo Alto management to meet with Piper Jaffray
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December 10, 2014
10:39 EDTKKDKrispy Kreme falls after results, but analyst remains upbeat
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09:23 EDTKKDOn The Fly: Pre-market Movers
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09:11 EDTKKDKrispy Kreme outlookstill positive, says Roth Capital
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08:16 EDTPANWBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 10 at 10:40 am; not all company presentations may be webcasted.Webcast Link
08:12 EDTPANWIT security outlook remains positive, says Pacific Crest
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December 9, 2014
18:21 EDTKKDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Korn/Ferry (KFY), up 3.1%... Analogic (ALOG), up 2.7%. DOWN AFTER EARNINGS: Freshpet (FRPT), down 8.5% after reporting quarterly results... Krispy Kreme (KKD), down 4.9%... Broadcom (BRCM), reverses to down just below 1%. ALSO LOWER: Agios Pharmaceuticals (AGIO), down 1.9% after filing to sell $175M of common stock... Yum! Brands (YUM), down 4.6% after providing fiscal 2015 operating guidance.
16:11 EDTKKDKrispy Kreme down 4.3% after reporting Q3 results, FY15 guidance
16:10 EDTKKDKrispy Kreme sees adjusted FY15 EPS 69c-74c, consensus 72c
16:09 EDTKKDKrispy Kreme reports Q3 adjusted EPS 18c, consensus 19c
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15:18 EDTKKDNotable companies reporting after market close
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09:03 EDTKKDKrispy Kreme December volatility elevated as shares trend up into Q3 and outlook
Krispy Kreme December call option implied volatility is at 74, January is at 46, February is at 41; compared to its 26-week average of 42 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today.

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