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Stock Market & Financial Investment News

News Breaks
February 18, 2014
07:13 EDTEBAY, ORCL, JNPR, NOW, PANW, SNDK, SBGSY, CSCOTeledata to hold a conference
2014 Technology Convergence Conference is being held in Santa Clara, California on February 18.
News For CSCO;PANW;ORCL;SBGSY;NOW;EBAY;SNDK;JNPR From The Last 14 Days
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August 19, 2015
09:16 EDTEBAYNew Relic, Magneto announce expansion of partnership
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August 18, 2015
11:01 EDTCSCOScansource exercises LOI to acquire assets of KBZ
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10:00 EDTSNDKOn The Fly: Analyst Downgrade Summary
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09:51 EDTPANWFireEye called top-tier security vendor in new upgrade
Shares of FireEye (FEYE) are getting a boost after Imperial Capital highlighted the company's "significant progress" when upgrading its rating on the name. California-based FireEye is a provider of cybersecurity solutions. UPGRADE: Imperial Capital analyst Michael Kim upgraded FireEye to Outperform from In-Line this morning in a note to investors, citing a favorable risk/reward at current share levels. The stock trades at the lower valuation end of similar high-growth security vendors, Kim tells investors in a research note. He believes FireEye is making "significant progress" on driving higher sales productivity and margin expansion. Ramping global adoption of the company's platform has made FireEye a top-tier security vendor, Kim argues. He raised his price target for shares to $55 from $45.50. NOT ALONE: Kim is not alone in recommending stocks in the cybersecurity space. Analysts at Piper Jaffray and Wells Fargo last week highlighted security names that they view as attractive investments. CyberArk Software (CYBR), Barracuda Networks (CUDA) and Fortinet (FTNT) were among the stocks recommended by the firms. Piper Jaffray analyst Andrew Nowinski said the recent pullback in the sector is an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda, CyberArk, Fortinet and Palo Alto Networks (PANW), he told investors last week. Wells Fargo analyst Gray Powell last week upgraded Israel-based CyberArk to Outperform from Market Perform saying the company's billings growth as well as its sales and marketing efficiencies are "exceeding peers by a wide margin. HACKS CONTINUE: High-profile cyber attacks continue with the Internal Revenue Service yesterday raising the number of accounts that were compromised in a data breach earlier this year. In May, the IRS revealed that 114,000 tax accounts through its "Get Transcript" application were exposed to thieves. Yesterday, the agency said a recent review revealed approximately 220,000 additional tax accounts may have been breached, bringing the total number of victims up to 334,000. Shares of FireEye are up 56c to $44.21 in early trading. CyberArk is up 13c to $60.06 while Proofpoint (PFPT), a company focused on securing email communication, is up 16c to $65.06.
09:23 EDTSNDKOn The Fly: Pre-market Movers
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09:04 EDTJNPRJuniper selected by Joe Gibbs Racing to speed data center network transformation
Juniper Networks announced that four-car NASCAR team Joe Gibbs Racing selected its next-generation switching and security solutions to rev up the team's aging network infrastructure for better performance on and off the track.
07:27 EDTSNDKSanDisk downgraded to Underperform on industry capex increases at BofA/Merrill
BofA/Merrill downgraded SanDisk two notches to Underperform from Buy and lowered its price target to $40 from $75. The firm is more cautious on the memory chip sector given new developments of SK Group's "significantly higher capex budget" and Micron's unexpected FY16 capex hike. BofA/Merrill said excess capacity is now a concern and cut long-term earnings estimates for most memory chip stocks.
06:08 EDTEBAYeBay expected to announce sale of some of Snapdeal stake, Re/code reports
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August 17, 2015
14:27 EDTPANWIRS says cyber attack larger than originally thought, AP says
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13:05 EDTEBAYeBay initiated with a Hold at Evercore ISI (pre-open)
Pre-open, Evercore ISI initiated eBay with a Hold rating and $28 price target. The firm sees balanced potential catalysts against a fundamental story that remains challenged due to increased competitive pressures.
11:18 EDTCSCOEZchip to supply chips to cloud data centers, Bloomberg says
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11:11 EDTSNDKAnalysts split on Micron after analyst day
Analysts were divided on the outlook for flash memory product maker Micron (MU) following its analyst day. Wells Fargo upgraded the stock to Market Perform from Underperform and Piper Jaffray said that the stock was unlikely to drop much further. However, Bank of America/Merrill and Wedbush cut their rating on the shares to Neutral from Buy. UPGRADE: Wells Fargo upgraded Micron to Market Perform from Underperform. Following the stock's decline over the last few months, the shares "reflect a more realistic view" of the flash memory sector's outlook, the firm stated. Additionally, the sector's financial condition has improved in recent years, which should boost the sector's profits and margins over the longer term, Wells Fargo stated. However, the firm still believes that the company is facing several risks, including falling prices for DRAM, a widespread form of flash memory, and its rising capital spending. Although Micron is facing "challenging near-term conditions," including a weak PC market, the company outlined many positive aspects of its business, according to Piper Jaffray analyst Ruben Roy. The longer term trends for the flash memory sector remain positive, as consolidation, low supply growth and diversifying demand should increase the profits of suppliers, Roy believes. And although Micron said its capital spending would be above expectations, Roy expects these investments to help the company enhance its manufacturing process and efficiency, boosting its performance over the longer term. Micron may miss estimates in the short-term but its share price is unlikely to drop much further, and its performance should improve significantly next year, according to Roy. He kept an Overweight rating on the stock. BEARISH TAKE: The DRAM supply/demand dynamic probably won't improve and Micron's cost reductions probably won't outpace price declines until mid-2016, according to Wedbush analyst Betsy Van Hees. Although Van Hees believes that the company's spending will help it over the longer term, she forecast that the stock would "continue to struggle" until the DRAM supply/demand dynamic stabilizes. The analyst cut her price target on the name to $19 from $26. Micron's decision to raise its capital spending suggests that it is "overconfident" in its new chips, according to Bank of America/Merrill Lynch analyst Simon Dong-je Woo. The margins on the new chip "could easily" be negative, the analyst believes. Woo thinks that Micron's capital expenditures next year should be $3B-$4B versus the company's guidance of $5.3B-$5.8B. The analyst's target on the name fell to $19 from $28.40. PRICE ACTION: In late morning trading, Micron lost 0.2% to $17. Earlier the stock reached a new 52-week low of $16.12. The shares of another flash memory product maker, SanDisk (SNDK), were flat at $58.
10:09 EDTCSCOOn The Fly: Analyst Downgrade Summary
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07:39 EDTCSCOTMC to hold a conference
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06:45 EDTCSCOCisco downgraded to Equal Weight from Overweight at Morgan Stanley
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August 14, 2015
16:16 EDTCSCOStocks end week higher after China rattles market with currency moves
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16:00 EDTCSCOOptions Update; August 14, 2015
iPath S&P 500 VIX Short-Term Futures down 4c to 16 Option volume leaders: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT RAD CSCO JCP AMZN SUNE
07:59 EDTPANWAnalysts recommend cybersecurity stocks after recent underperformance
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07:37 EDTEBAYJANA reports new stakes in Allergan, TWC, sells Applied Materials
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07:00 EDTPANWSecurity stocks underperformed despite 'solid' results, says Piper Jaffray
Piper Jaffray analyst Andrew Nowinski says the security stocks he covers have underperformed the Nasdaq composite despite delivering "solid beat-and-raise" results. With the exception of Fortinet (FTNT) and Imperva (IMPV), the remaining security stocks within Nowinski's security coverage universe have all underperformed the Nasdaq. Symantec (SYMC) has underperformed by 0.7%, CyberArk by 1.6%, Proofpoint (PFPT) by 5.3%, Palo Alto by 7.4%, FireEye (FEYE) by 8.4% and Barracuda by 36.7%, Nowinski tells investors this morning in a research note. Investors remain concerned with the potential for a moderation in spending, the analyst believes. However, his channel checks with resellers suggest demand should remain strong for the next 12 months. Nowinski views the recent pullback in the sector as an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda Networks (CUDA), CyberArk Software (CYBR), Fortinet (FTNT) and Palo Alto Networks (PANW), Nowinski writes. Wells Fargo this morning upgraded shares of CyberArk to Outperform.
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