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Stock Market & Financial Investment News

News Breaks
July 24, 2014
12:36 EDTCUDA, FTNT, JNPRAnalyst 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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October 9, 2014
18:47 EDTCUDA, JNPROn The Fly: After Hours Movers
UP AFTER EARNINGS: Helen of Troy (HELE), up 3%... Barracuda Networks (CUDA), up marginally after reporting second quarter results. ALSO HIGHER: Sucampo Pharmaceuticals (SCMP), up 19.2% after announcing settlement agreement resolving patent litigation on AMITIZA... Civeo (CVEO), up 15% after Greenlight Capital reported a 9.99% stake in the company... EXCO Resources (XCO), up 10.6% after T. Boone Pickens says that company approached by buyers, reported by Bloomberg... EXACT Sciences (EXAS), up 3.7% after announcing final national coverage determination for Cologuard... US Ecology (ECOL), up 2.5% following announcement that it will replace Measurement Specialties (MEAS) in S&P 600. DOWN AFTER EARNINGS: Procera Networks (PKT), down 19.3%... Sizmek (SZMK), down 13.9% following third quarter revenue guidance... VOXX International (VOXX), down 12.5%... Knowles (KN), down 8.1% after lowering third quarter guidance... Microchip (MCHP), down 8.2% after lowering second quarter guidance... Juniper Networks (JNPR), down 3.6% after lowering third quarter outlook. ALSO LOWER: GT Advanced Technologies (GTAT), down 23.3% following a Bloomberg report that it will as to wind down sapphire operations.
18:07 EDTCUDABarracuda sees FY15 adjusted EPS 22c-24c, may not compare to consensus 17c
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18:05 EDTCUDABarracuda Networks sees Q3 adjusted EPS 4c-5c, may not compare to consensus 3c
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16:20 EDTJNPRJuniper down 5% after lowering Q3 outlook
16:17 EDTJNPRJuniper reports preliminary Q3 adjusted EPS 34c-36c, consensus 38c
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16:12 EDTCUDABarracuda Networks reports Q2 adjusted EPS 8c, consensus 4c
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15:24 EDTCUDANotable companies reporting after market close
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15:20 EDTCUDABarracuda Networks technical comments before results
The shares have sharply underperformed in the prior three months, trading down by over 20%. At the current price of $26.41 the stock is close to the lows of its range over the period, with the trend down but more recently in a consolidation phase. A key level to watch on news that exceeds low expectations would be at $24. That has been major support during the sideways move since early September. It has also been an area of significance over the year, forming a consistently tradeable bottom. A break therefore would be bearish, putting the stock on a path not seen since its IPO. Support below would be at $22 and then at $20.13. If news is sufficiently better than expectations, a bounce would be likely given past history. Resistance levels to watch as potential upside objectives would be at $28.56, $29.44, and $32.27.
06:40 EDTCUDA, FTNTSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
October 8, 2014
10:00 EDTJNPROn The Fly: Analyst Downgrade Summary
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08:01 EDTFTNTFortinet should be bought ahead of earnings, says Pacific Crest
Pacific Crest believes that Fortinet's core momentum remains strong as it continues to gain share in enterprise deals. The firm thinks the company could beat expectations. It keeps an Outperform rating on the shares.
07:38 EDTJNPRJuniper downgraded at MKM Partners
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07:32 EDTJNPRJuniper downgraded at MKM Partners
As noted earlier, MKM Partners downgraded Juniper to Neutral from Buy. The firm thinks that the bull case on the stock is too centered on cost cuts and low valuation, and not enough on the company's growth outlook. MM Partners also believes that the service provider router market faces numerous overhangs. Target $24.
07:10 EDTJNPRJuniper downgraded to Neutral from Buy at MKM Partners
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October 7, 2014
08:18 EDTJNPRJuniper execution could drive 40% upside, says Bernstein
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October 6, 2014
14:35 EDTCUDABarracuda Networks Q2 results likely to beat expectations, says JMP Securities
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14:09 EDTFTNTSplunk, Tableau seen by Morgan as well-positioned in Big Data space
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10:04 EDTFTNTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at Piper Jaffray... Air France-KLM (AFLYY) downgraded to Neutral from Buy at Citigroup... BAE Systems (BAESY) downgraded to Hold from Buy at Societe Generale... Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Wedbush... Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Barclays... Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Barclays... Deckers Outdoor (DECK) downgraded to Neutral from Overweight at Piper Jaffray... Delhaize (DEG) downgraded to Hold from Buy at Deutsche Bank... Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley... McDonald's (MCD) downgraded to Equal Weight from Overweight at Morgan Stanley... Midcoast Energy (MEP) downgraded to Neutral from Buy at UBS... Mobileye (MBLY) downgraded to Market Perform from Outperform at Raymond James... Myers Industries (MYE) downgraded to Neutral from Buy at CL King... Nationstar (NSM) downgraded to Underperform from Market Perform at Keefe Bruyette... PTC Therapeutics (PTCT) downgraded to Market Perform at Cowen... PetSmart (PETM) downgraded to Equal Weight from Overweight at Barclays... Qlik Technologies (QLIK) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Outperform at Exane BNP Paribas... Tekmira (TKMR) downgraded to Market Perform from Outperform at ... XL Group (XL) downgraded to Market Perform from Outperform at FBR Capital... Xoom (XOOM) downgraded to Underweight from Equal-Weight at Evercore.
06:27 EDTFTNT, CUDAJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
05:49 EDTFTNTFortinet downgraded to Equal Weight from Overweight at Morgan Stanley
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