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Stock Market & Financial Investment News

News Breaks
August 18, 2014
10:41 EDTCYH, FEYECommunity Health discloses personal data compromised in cyber attack
Earlier today, Community Health (CYH) disclosed in a filing that in July Community Health Systems confirmed that its computer network was the target of an external, criminal cyber attack that the company believes occurred in April and June. The company and its forensic expert, Mandiant, a FireEye company (FEYE), believe the attacker was an “Advanced Persistent Threat” group originating from China who used highly sophisticated malware and technology to attack the company’s systems.The company has been informed by federal authorities and Mandiant that this intruder has typically sought valuable intellectual property, such as medical device and equipment development data. However, in this instance the data transferred was non-medical patient identification data related to the company’s physician practice operations and affected approximately 4.5M individuals who, in the last five years, were referred for or received services from physicians affiliated with the company. The company has confirmed that this data did not include patient credit card, medical or clinical information; the data is, however, considered protected under the Health Insurance Portability and Accountability Act because it includes patient names, addresses, birthdates, telephone numbers and social security numbers. The company does not believe this incident will have a material adverse effect on its business or financial results.
News For CYH;FEYE From The Last 14 Days
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September 4, 2015
16:39 EDTCYHCommunity Health files Form 10 registration statement for spin-off of Quorum
Community Health Systems announced that it has filed the initial Form 10 Registration Statement with the SEC in connection with its previously announced plan to spin off Quorum Health Corporation. The spin-off transaction will create a new, publicly traded company owning or leasing and operating 38 affiliated hospitals and related outpatient services, together with Quorum Health Resources, a subsidiary that provides management and consulting services to non-affiliated hospitals. The filing includes detailed information about the transaction and Quorum Health's operations and historical financial performance. The initial Form 10 filing will be updated with additional information in subsequent amendments. Community Health Systems, also named Quorum Health's top executives. Thomas Miller will serve as CEO of the new company, and Michael Culotta will serve as CFO. The spin-off transaction is expected to qualify as a tax-free distribution to Community Health Systems and its stockholders. The transaction is expected to close during the first quarter of 2016. Quorum Health Corporation intends to have its common stock authorized for listing on the New York Stock Exchange under the symbol "QHC."
September 3, 2015
10:38 EDTFEYETakeover rumor, Visa deal prediction push FireEye higher
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10:19 EDTFEYEFireEye calls active
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10:10 EDTFEYERumor: FireEye moves up on renewed takeover chatter
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06:55 EDTFEYEFireEye to announce expanded partnership with Visa, says Piper Jaffray
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September 1, 2015
10:59 EDTFEYECyberArk bucks downward market trend after Piper upgrade
The shares of Israeli cybersecurity company CyberArk (CYBR) are flat despite the large decline in the broader market after research firm Piper Jaffray upgraded the stock to Buy from Hold. The stock's decline has created an attractive entry point, as companies are becoming more interested in the type of products CyberArk offers, Piper analyst Andrew Nowinski contended. WHAT'S NEW: After conducting extensive checks, Nowinski believes that companies are becoming more interested in Privileged Account Management, the area in which CyberArk specializes. Enterprises are focusing on this area more intently because they realize they need to spend more on protecting their most critical assets within firewalls, the analyst stated. As a result of this trend, CyberArk's market share gains could accelerate, Nowinski believes. Moreover, the company is one of the few cybersecurity companies capable of generating 40%+ revenue growth and 20%+ operating margins, the analyst stated. Additionally, the company's 2016 free cash flow should come in nearly triple analysts' consensus 2016 estimate, said Nowinski, who set a $70 price target and Overweight rating on the shares. OTHERS TO WATCH: Other publicly traded IT security companies include Barracuda (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In morning trading, CyberArk was little changed at $51 per share.
August 31, 2015
08:03 EDTFEYECybergy partners with FireEye for cybersecurity push
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August 25, 2015
09:26 EDTCYHRBC Capital to hold a bus tour
Healthcare Bus Tour travels throughout Nashville, TN to visit with various healthcare companies on August 25-26.
08:08 EDTFEYEFireEye, Adobe among quality 'flushed out' tech names, says JPMorgan
JPMorgan analyst Sterling Auty says that market disruptions like the one seen in the last several days have historically provided a unique opportunity to invest in high-quality names and identified FireEye (FEYE), Adobe (ADBE), Veeva Systems (VEEV) and Rovi (ROVI) as four particularly interesting tech stocks that "appear flushed out" and now offer "exaggerated" risk/reward. The firm has Overweight ratings on all four stocks mentioned above after having upgraded Rovi to Overweight this morning.
August 24, 2015
15:01 EDTFEYEWyndham slips after FTC given go-ahead for data breach lawsuit
Shares of Wyndham (WYN) have slipped in afternoon trading after an appeals court ruled that the FTC can sue the company over its allegedly poor cybersecurity practices. WHAT'S NEW: According to a Reuters report of court proceedings, the 3rd U.S. Circuit Court of Appeals in Philadelphia has ruled that the FTC may proceed with its lawsuit against Wyndham over data breaches in 2008 and 2009, saying the hotel company failed to take reasonable steps to protect customer information. Wyndham's allegedly lackluster data protection policies constitute "unfair and deceptive trade practices," granting the Federal Trade Commission authority to step in, said Judge Thomas Ambro. FTC Chairwoman Edith Ramirez commented, "It is not only appropriate, but critical, that the FTC has the ability to take action on behalf of consumers when companies fail to take reasonable steps to secure sensitive consumer information," according to the report. WHAT'S NOTABLE: Today's ruling comes in the wake of numerous high-profile "hack attacks," with American Airlines (AAL), Anthem (ANTM), United Airlines (UAL) and Target (TGT) all reporting digital security breaches in recent years. Though no final verdict has been reached in the case between the FTC and Wyndham, Judge Ambro may have established the beginnings of a legal precedent potentially allowing the Commission to sue companies for not going far enough to protect consumer data and Chairwoman Ramirez appeared to share that broader tone. PRICE ACTION: Shares of Wyndham are down about 4% in intraday trading. Cybersecurity firms FireEye (FEYE) and Palo Alto Networks (PANW) are down roughly 2% and 2.7% for the afternoon.
14:21 EDTFEYEJMP Securities says pullback in Palo Alto a buying opportunity
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