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Stock Market & Financial Investment News

News Breaks
July 24, 2014
10:56 EDTFTNT, CUDABarracuda Networks pullback may be due to misinterpretation, says JPMorgan
JPMorgan says the sell-off in shares of Barracuda Networks (CUDA) could be due to investors misinterpreting comments from Fortinet (FTNT). The firm believes Fortinet's comments regarding focusing on the midmarket may be getting viewed as increased competition against Barracuda. JPMorgan, however, thinks both Fortinet and Barracuda are benefiting from legacy providers focusing less on the midmarket. The firm keeps an Overweight rating on Barracuda with a $39 price target.
News For CUDA;FTNT From The Last 14 Days
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July 23, 2015
18:21 EDTFTNTOn The Fly: Top stock stories for Thursday
Stocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.
12:32 EDTFTNTOn The Fly: Top stock stories at midday
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11:32 EDTFTNTIT security stocks climb after Fortinet, F5 beat expectations
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10:00 EDTFTNTOn The Fly: Analyst Upgrade Summary
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09:13 EDTFTNTOn The Fly: Pre-market Movers
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08:29 EDTFTNTFortinet price target raised to $55 from $45 at JMP Securities
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08:23 EDTFTNTFortinet reported strong Q2 results, says Oppenheimer
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05:27 EDTFTNTFortinet upgraded to Overweight from Neutral at JPMorgan
JPMorgan analyst Sterling Auty upgraded Fortinet to Overweight saying the company's "very impressive" June quarter results indicate its growth investments are paying off. The acceleration in billings should lead Fortinet to post 43% year-over-year growth in free cash flow, Auty tells investors. He raised his price target for the stock to $54 from $40.
July 22, 2015
19:02 EDTFTNTOn The Fly: After Hours Movers
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16:35 EDTFTNTFortinet sees Q3 billings $285M-$295M
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16:34 EDTFTNTFortinet sees FY15 adjusted EPS 51c-52c, consensus 51c
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16:32 EDTFTNTFortinet sees Q3 adjusted EPS roughly 12c, consensus 14c
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16:22 EDTFTNTFortinet hits fresh life high after results
Shares were last at $45.70, hitting a fresh life high. High probability of range expansion with a move to $47.50 to $50 area as next objectives. Support is at the prior high at $44.12.
16:17 EDTFTNTFortinet reports Q2 adjusted EPS 11c, consensus 9c
Reports Q2 revenue $239.79M, consensus $227.74M.
15:26 EDTFTNTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
10:21 EDTCUDAJPMorgan positive on Barracuda after management meetings
JPMorgan analyst Sterling Auty left meetings with the CEO and CFO of Barracuda Networks "even more convinced" that the company's issues in Q1 were just "growing pains" from channel expansion. The company's business should reaccelerate and the stock should move higher as the issues sort themselves out, Auty tells investors in a research note. He views Barracuda as an attractively valued way to play the security trend and keeps an Overweight rating on the stock with a $42 price target.
July 17, 2015
14:37 EDTCUDA, FTNTUCLA Health says 4.5M individuals' data possibly exposed in cyber attack
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11:13 EDTCUDABarracuda management to meet with William Blair
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10:56 EDTFTNTCVS investigates credit card breach at online photo unit, KrebsOnSecurity says
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July 16, 2015
07:59 EDTCUDABarracuda management to meet with JPMorgan
Meeting to be held in New York on July 21 hosted by JPMorgan.
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