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Stock Market & Financial Investment News

News Breaks
July 24, 2014
12:36 EDTCUDA, JNPR, FTNTAnalyst says Barracuda weakness may be based on misunderstanding
Shares of IT security company Barracuda Networks (CUDA) are lower this afternoon and the slide has been attributed to comments by another company in the sector, Fortinet (FTNT), but investors may be misinterpreting Fortinet's remarks, JPMorgan wrote in a note to investors earlier today. WHAT'S NEW: During its earnings conference call last night, Fortinet talked about focusing on midmarket corporate customers, JPMorgan analyst Sterling Auty wrote in a note to investors earlier today. As a result, investors may believe that Barrcauda, which focuses on that market, could encounter increased competition, Auty stated. However, Barrcauda and Fortinet are both benefiting as older companies - including Juniper (JNPR) and Dell - reduce their focus on the mid-market, the analyst contended. Additionally, Fortinet is focusing more on larger companies with up to 10,000 employees, while Barracuda continues to focus on companies with less than 5,000 employees, according to Auty. He kept a $39 price target and Overweight rating on Barracuda. PRICE ACTION: In early afternoon trading, Barracuda fell 4.5% to $28.98. Fortinet, which reported better than expected revenue and profits and saw its price target raised by several firms, advanced 7% to $25.69.
News For CUDA;FTNT;JNPR From The Last 14 Days
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May 26, 2015
07:54 EDTFTNTFortinet upgraded to Buy from Hold at Needham
Needham upgraded Fortinet to Buy with a $48 price target following field checks. The firm said Large Enterprises are increasingly open to UTM appliances for "performance" environments and checks suggest Fortinet is still accelerating and consensus estimates are too low.,
May 20, 2015
15:55 EDTFTNT, CUDACareFirst BlueCross BlueShield confirms cyberattack
CareFirst BlueCross BlueShield has confirmed that cyberattackers gained limited, unauthorized access to a single CareFirst database. This was discovered as a part of the companyís ongoing Information Technology security efforts in the wake of recent cyberattacks on health insurers. CareFirst engaged Mandiant, a unit of FireEye (FEYE), to conduct an end-to-end examination of its IT environment. The review determined that in June 2014 cyberattackers gained access to a single database in which CareFirst stores data that members and other individuals enter to access CareFirstís websites and online services. Approximately 1.1M current and former CareFirst members and individuals who do business with CareFirst online who registered to use CareFirstís websites prior to June 20, 2014 are affected by this event. All affected members will receive a letter from CareFirst offering two free years of credit monitoring and identity theft protection. Mandiant completed its review and found no indication of any other prior or subsequent attack or evidence that other personal information was accessed. Other publicly traded companies in the cybersecurity space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).
08:41 EDTCUDA, FTNTCisco CFO sees potential for acquistions in security
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May 19, 2015
08:10 EDTCUDATech Data announces agreement with Barracuda Networks
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May 18, 2015
08:11 EDTFTNTFortinet signs CRADA with DHS
Fortinet announced that it has signed a Collaborative Research and Development Agreement, or CRADA, with the Department of Homeland Security, or DHS. With the CRADA in place, Fortinet can now share and gain access to new threat information in order to help improve threat detection and prevention for users of Fortinet security solutions. The CRADA will allow Fortinet to participate in the Cyber Information and Sharing and Collaboration Program, or CISCP, which entails sharing cyber threat, incident, and vulnerability information in near real-time, drawing on data of observed threat activity submitted by CISCP participants.
May 12, 2015
10:01 EDTJNPROn The Fly: Analyst Upgrade Summary
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07:24 EDTJNPRJuniper upgraded to Buy on new product cycles at BofA/Merrill
As previously reported, BofA/Merrill upgraded Juniper to Buy from Neutral. The firm expects Juniper's new products and sequential growth in North American carrier spending to drive growth in core business lines. BofA/Merrill said Juniper's new products address recent weaknesses in security, switching, and routing and expects growth and operating margins to begin to stabilize. Price target raised to $34 from $27.
06:19 EDTJNPRJuniper upgraded to Buy from Neutral at BofA/Merrill

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