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News Breaks
March 11, 2014
09:37 EDTVMW, CHKPCheck Point collaborates With VMware for private cloud security
Check Point Software (CHKP) announced that the company is collaborating with VMware (VMW) to automate and simplify the provisioning and deployment of network security in private clouds. Check Point will make its security protection solutions interoperable with VMware infrastructure, the company said. Check Point Virtual Edition, a security solution for virtualized environments, will be available in Q1.
News For CHKP;VMW From The Last 14 Days
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November 24, 2015
15:25 EDTVMWEMC shifts Virtustream plans, to keep majority stake, Reuters says
EMC (EMC) will maintain a majority stake in cloud services provider Virtustream, says Reuters. EMC is giving up on earlier plans to place Virtustream in a joint venture with its virtualization software company VMware (VMW), said Reuters, citing people familiar with the matter. Reference Link
14:59 EDTVMWEMC shifts Virtustream plans, to keep majority stake, Reuters says
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14:14 EDTVMWBig shareholders threaten votes against EMC-Dell deal, Re/code reports
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10:29 EDTCHKPPalo 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.
November 23, 2015
08:17 EDTVMWEMC risk/reward favorable, says Bernstein
Bernstein notes that EMC's stock is trading at an approximately 24% discount to the valuation at which it agreed to be acquired by Dell and Silver Lake. The firm blames the discrepancy on the decline in VMware's stock since the deal was announced and concerns about the VMware tracking stock. Bernstein blames the decline in VMware's stock on concerns about its corporate governance following the deal and its weak revenue guidance issued last month. Nonetheless, Bernstein thinks the EMC deal will probably close and sees the risk/reward ratio of the stock as positive. It keeps a $30 price target and Outperform rating on the shares.
November 20, 2015
10:31 EDTVMWAttorneys say EMC deal tax worries overblown, dealReporter says
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November 19, 2015
16:11 EDTVMWGoogle names VMware co-founder to lead cloud businesses
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November 18, 2015
08:30 EDTCHKPCheck Point removed from US 1 List at BofA/Merrill
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