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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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February 27, 2015
13:23 EDTAIGAIG announces death of Robert H. Benmosche
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February 26, 2015
18:43 EDTOVTIOn The Fly: After Hours Movers
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16:30 EDTOVTIOmniVision sees Q4 adjusted EPS 15c-31c, consensus 12c
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16:29 EDTOVTIOmniVision reports Q3 adjusted EPS 38c, consensus 29c
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15:30 EDTOVTINotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Monster Beverage (MNST), consensus 59c... Ross Stores (ROST), consensus $1.11... Gap (GPS), consensus 74c... Autodesk (ADSK), consensus 24c... Universal Health Services (UHS), consensus $1.50... Southwestern Energy (SWN), consensus 50c... Ensco (ESV), consensus $1.36... J.C. Penney (JCP), consensus 11c... Nimble Storage (NMBL), consensus (14c)... Herbalife (HLF), consensus $1.22... Allscripts Healthcare (MDRX), consensus 9c... SBA Communications (SBAC), consensus 2c... Aruba Networks (ARUN), consensus 27c... Splunk (SPLK), consensus 4c... Air Lease (AL), consensus 61c... Ingram Micro (IM), consensus 99c... Weight Watchers (WTW), consensus 7c... Northern Oil and Gas (NOG), consensus 19c... Envision Healthcare (EVHC), consensus 36c... Infoblox (BLOX), consensus 5c... Live Nation (LYV), consensus (41c)... OmniVision (OVTI), consensus 29c... Bonanza Creek Energy (BCEI), consensus 27c.
14:39 EDTPANWPalo Alto volatility and share price increases into Q2 and outlook
Palo Alto March weekly call option implied volatility is at 63, April is at 42, June is at 38; compared to its 26-week average of 43 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on March 2.
07:48 EDTPANWPalo Alto price target raised to $150 from $130 at Oppenheimer
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February 24, 2015
10:28 EDTPANWAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
09:01 EDTOVTIOmniVision and eyeSight announce technology collaboration
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08:32 EDTPANWFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
07:41 EDTPANWPalo Alto volatility elevated into Q2 and outlook
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07:18 EDTPANWPalo Alto results likely to beat expectations, says RBC Capital
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February 23, 2015
10:15 EDTPANWCyberArk sinks after JPMorgan analyst cuts rating to sell
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08:27 EDTPANWPalo Alto price target raised to $150 from $130 at Pacific Crest
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05:52 EDTPANWCyberArk downgraded to Underweight from Neutral at JPMorgan
JPMorgan downgraded Cyberark Software (CYBR) to Underweight, its sell-equivalent, saying "a lot needs to go right" to justify the current valuation. JPMorgan keeps a $42 price target for the stock, well below Friday's closing price of $70.35. It points out that CyberArk's valuation is in-line with Palo Alto Networks (PANW), despite the latter company's total addressable market being roughly five times larger in its estimation. Cyberark is an Israel-based security company offering protections against cyber attacks.
February 18, 2015
09:02 EDTOVTIOmniVision and Almalence partner for high-res images on mobile devices
OmniVision Technologies is collaborating with Almalence to bring DSC-like performance to mobile applications. The coupling of OmniVision image sensors with Almalence's computational imaging algorithms allows for the capturing of high resolution images or videos in low-light conditions.
February 17, 2015
18:17 EDTAIGJANA Partners gives quarterly update on stakes
NEW STAKES: NCR (NCR), Liberty Ventures (LVNTA), Solarcity (SCTY), Computer Sciences Corp (CSC), Salix (SLXP), and Applied Materials (AMAT). INCREASED STAKES: Hertz (HTZ), Valeant (VRX), Walgreens Boots Alliance (WBA), Rackspace (RAX), and HD Supply (HDS). DECREASED STAKES: AIG (AIG), Actavis (ACT), Charter (CHTR), AerCap (AER), and Energy Transfer Equity (ETE). LIQUIDATED STAKES: Equinix (EQIX), Cameron International (CAM), Dollar General (DG), QEP Resources (QEP), and Amgen (AMGN).
13:18 EDTAIGOmega Advisors gives quarterly update on stakes
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February 15, 2015
17:43 EDTPANWCybersecurity firm Kaspersky warns of cyber attack on banks, FT says
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