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News Breaks
April 2, 2014
Actuant (ATU) upgraded to Buy from Neutral at SunTrust... Ameriprise (AMP) upgraded to Overweight from Equal Weight at Morgan Stanley... Apollo Education (APOL) upgraded to Outperform from Market Perform at Wells Fargo... Arthur J. Gallagher (AJG) upgraded to Buy from Neutral at Compass Point... Cognizant (CTSH) upgraded to Buy from Neutral at UBS... Comerica (CMA) upgraded to Market Perform from Underperform at Wells Fargo... DSW (DSW) upgraded to Hold from Sell at Brean Capital... Dover (DOV) upgraded to Outperform from Neutral at Credit Suisse... Fortinet (FTNT) upgraded to Outperform from Market Perform at Wells Fargo... Laredo Petroleum (LPI) upgraded to Buy from Neutral at SunTrust... Penske Automotive (PAG) upgraded to Buy from Neutral at Sterne Agee... The Pantry (PTRY) upgraded to Buy from Hold at Benchmark Co... Veeva (VEEV) upgraded to Overweight from Equal Weight at Morgan Stanley... Worthington (WOR) upgraded to Buy from Hold at KeyBanc... TCF Financial (TCB) upgraded to Buy from Hold at Sandler O'Neill... Illumina (ILMN) upgraded at Macquarie... Intuitive Surgical (ISRG) upgraded to Outperform, price target $700 at JMP Securities... Carter's (CRI) upgraded to Overweight from Neutral at Piper Jaffray... Nestle (NSRGY) upgraded to Outperform from Market Perform at Bernstein.
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November 24, 2015
16:05 EDTVEEVVeeva sees Q4 EPS 11c, consensus 10c
Sees Q4 revenue $109M-$111M, consensus $110M.
16:04 EDTVEEVVeeva reports Q3 EPS 12c, consensus 11c
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15:23 EDTVEEVNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include HP Enterprise (HPE), consensus 52c... Hewlett-Packard (HPQ), consensus 45c... Veeva (VEEV), consensus 11c... Guess (GES), consensus 11c... Caleres (CAL), consensus 78c... TiVo (TIVO), consensus 8c.
10:29 EDTFTNTPalo Alto seen adding confidence on IT security demand
The shares of IT security company Palo Alto (PANW) are rising after the company reported stronger than expected results last night. In a note to investors today, JPMorgan wrote that the results "should help restore investor confidence" in demand for IT security systems. WHAT'S NEW: Palo Alto reported first quarter earnings per share of 35c, versus analysts' consensus estimate of 32c. The company's revenue came in at $297M, versus the consensus outlook of $284M. The IT security company provided roughly in-line Q2 EPS guidance, while its Q2 revenue guidance came in slightly above expectations. "Security remains a strategic consideration embedded in virtually every IT decision, (and) as a result, the demand environment remains very healthy, said Palo Alto CEO Mark McLaughlin. ANALYST REACTION: Palo Alto's results should boost investors' confidence in the IT security demand environment, wrote JPMorgan analyst Sterling Auty. Palo Alto's results were "healthy" and the company's customer growth trends continue to be strong, the analyst stated. Moreover, the company is selling more of its products to each customer, Auty reported. As investors shift to valuing the company on cash flow, moving away from their current revenue based valuation method, the stock should rise, according to Auty, who kept a $216 price target and Overweight rating on the name. Palo Alto reported strong results, showing that the company is continuing to gain share in the new, fast growing next generation firewall and advanced threat detection market, according to Stephens analyst Jonathan Ruykhaver. Strong demand, good new products, and a wider distribution network will enable the company to deliver significant share gains and strong growth, believes the analyst, who increased his price target on the stock to $200 from $190. Also very upbeat on Palo Alto was Pacific Crest analyst Rob Owens. The company's growth continued to be "torrid" last quarter and it will clearly be among the winners in the IT security sector, wrote Owens, who raised his price target on the shares to $210 from $190 and kept an Overweight rating on the name. WHAT'S NOTABLE: Other publicly traded companies in the IT security space include Barracuda (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In early trading, Palo Alto climbed 7% to $184.22.
07:07 EDTDSWDSW backs FY15 EPS $1.40-$1.50, consensus $1.47
Backs FY15 revenue growth of 4%, consensus $2.58B. Backs FY15 flat comparable sales.
07:06 EDTDSWDSW reports Q3 EPS 44c, consensus 43c
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November 23, 2015
18:42 EDTAPOLS&P announces changes to the S&P 400, 500, 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: CSRA (CSRA) will be added to the S&P 500 after the close of trading on Friday, November 27, replacing Computer Sciences (CSC), which will be removed from the S&P 500 after the close of trading on Monday, November 30. CSRA will be added to the S&P 500 on a zero price basis reflecting its spin-off from Computer Sciences. Following the spin-off, the Computer Sciences stub will replace Apollo Education Group (APOL) in the S&P MidCap 400. Computer Sciences' post spin market capitalization will be more representative of the mid-cap market space. Apollo Education is ranked at the bottom of the S&P MidCap 400 Phibro Animal Health (PAHC) will replace Pericom Semiconductor (PSEM) in the S&P SmallCap 600 after the close of trading on Wednesday, November 25. S&P SmallCap 600 constituent Diodes (DIOD) is acquiring Pericom Semiconductor in a deal expected to be completed soon pending final conditions.
17:23 EDTAPOLCSC to replace Apollo Education in S&P 400 as of 11/30 close
16:24 EDTWORWorthington to acquire Taylor Wharton CryoScience business for $33.25M
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13:27 EDTDSWDSW volatility elevated into Q3 and outlook
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10:47 EDTISRGIntuitive Surgical CEO says 'probably not leading indicator' of total admissions
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09:02 EDTFTNTFortinet hires Tyson Macaulay as Chief Security Strategist
Fortinet announced that it has expanded its information security services with the appointment of security industry veteran Tyson Macaulay as Chief Security Strategist and vice president of consulting services. In this newly created role, Macaulay will be a trusted advisor to C-Level enterprise customers, helping them take a holistic approach to managing their data security environments in a threat landscape that is rapidly changing and evolving. Macaulay joins Fortinet from Intel Security, where he served as the Chief Technology Officer for Telecommunications Strategy and played an instrumental role in developing security solutions and sales channels through tier-1 carriers, service providers, and telecommunications equipment manufacturers.
08:57 EDTPAGPenske Automotive management to meet with Stephens
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November 20, 2015
07:56 EDTILMNIllumina has a path back to $200 per share, says Cowen
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07:30 EDTDOVUBS to hold a conference
Industrials & Transportation Conference is being held in Boca Raton, FL on November 18-20 with webcasted company presentations to begin on November 20 at 8 am; not all company presentations may be webcasted. Webcast Link
November 19, 2015
10:00 EDTDSWOn The Fly: Analyst Initiation Summary
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07:15 EDTFTNTPalo Alto Fortinet seen as potential Cisco takeover targets, says Oppenheimer
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November 18, 2015
19:27 EDTDSWDSW initiated with an Underperform at Wells Fargo
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November 17, 2015
06:52 EDTPAGPenske Automotive acquires four franchises in New Jersey
Penske Automotive announced that it has acquired Audi Eatontown, Porsche Monmouth, Jaguar Monmouth and Land Rover Monmouth located in Monmouth County, New Jersey. These franchises were acquired from the Schneider Nelson Auto Group and are expected to sell approximately 2,400 new and used vehicles annually, while generating revenue of approximately $175M on an annualized basis.
November 16, 2015
07:25 EDTPAGAuto retailers outlook still positive, says KeyBanc
After conducting extensive channel checks in October, KeyBanc believes that the sales outlook of the auto retailer sector remains strong. The firm is "becoming cautiously optimistic" on the outlook for the sector's new vehicle gross profit per unit. It keeps Outperform ratings on Asbury Automotive (ABG), Lithia Motors (LAD), Penske Automotive (PAG), CarMax (KMX), and Group 1 Automotive (GPI).
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