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Stock Market & Financial Investment News

News Breaks
January 15, 2014
11:04 EDTECYT, MFRM, SBGI, FEYE, LUKHigh option volume stocks: FEYE MFRM LUK SBGI ECYT
News For FEYE;MFRM;LUK;SBGI;ECYT From The Last 14 Days
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August 26, 2015
18:47 EDTSBGIDISH, Sinclair Broadcast reach agreement, form basis for long-term deal
DISH Network (DISH) announced that it and Sinclair Broadcast Group (SBGI) have reached an agreement in principle "that will form the basis of a long-term retransmission consent agreement" for carriage of Sinclair's local channels in 79 markets nationwide. Restoration of Sinclair signals to DISH's system is underway. "We are grateful for the FCC's work on behalf of consumers to actively broker a productive path forward," said DISH, adding that it is asking the Federal Communications Commission to stay action on DISH's verified amended and restated retransmission complaint and request for preliminary injunctive relief as the long-term agreement is being finalized. Terms of the agreement were not disclosed.
18:24 EDTSBGISinclair Broadcast, DISH reach retransmission consent pact in principal
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12:47 EDTSBGIOn The Fly: Top stock stories at midday
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12:44 EDTSBGIFCC Chairman Wheeler says to convene emergency meeting with DISH, Sinclair
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05:30 EDTSBGIDISH renews formal complaint with FCC against Sinclair Broadcast
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05:17 EDTSBGIDISH says Sinclair Broadcast chooses to initiate channel blackout
Despite reaching an agreement on rates and all other terms for the carriage of the Sinclair local stations, DISH (DISH) said that this afternoon Sinclair Broadcast Group (SBGI) chose to begin the largest local channel blackout in the history of television, blocking DISH customers' access to 129 local channels in 79 markets across 36 states and the District of Columbia, and intentionally harming and exploiting millions of innocent consumers to gain negotiating leverage for carriage of an unrelated cable channel that it hopes to acquire but does not own today. Warren Schlichting, DISH senior vice president of programming, said, "Sinclair rejected our extension offer and has chosen to use innocent consumers as pawns to gain leverage for the economic benefit of Sinclair, while causing substantial harm and disruption to the lives of consumers." DISH and Sinclair had been making steady progress in their recent negotiations, and DISH was hopeful that they would come to a mutual agreement to renew carriage of the Sinclair local stations. In that spirit, DISH offered another short-term contract extension to Sinclair that would include a retroactive "true-up" when new rates were agreed upon, and would preserve the ability of DISH customers to access the Sinclair local stations while our negotiations continued. The "true-up" would ensure that Sinclair was made whole at the new rates for the period of any contract extension. Rather than accept DISH's good faith offer, Sinclair Broadcast Group chose to begin the largest local channel blackout in the history of television, blocking DISH customers' access to 129 local channels in 79 markets, and intentionally harming and exploiting millions of innocent consumers to gain negotiating leverage for carriage of an unrelated cable channel that it hopes to acquire but does not own today.
August 25, 2015
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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August 19, 2015
17:09 EDTLUKLeucadia appoints John Dalton as Controller and Chief Accounting Officer
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August 18, 2015
10:07 EDTFEYEHigh option volume stocks
High option volume stocks: CCOI XONE XDE OMER JMBA URBN W SCCO DKS ESPR FEYE W
10:00 EDTFEYEOn The Fly: Analyst Upgrade Summary
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09:51 EDTFEYEFireEye 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.
05:29 EDTFEYEFireEye upgraded to Outperform from In-Line at Imperial Capital
Imperial Capital analyst Michael Kim upgraded FireEye to Outperform 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. Kim raised his price target for shares to $55 from $45.50. The cybersecurity provider closed yesterday up 64c to $43.65.
August 17, 2015
16:15 EDTSBGIGlenhill Advisors reports 5.6% passive stake in Sinclair Broadcast
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14:27 EDTFEYEIRS says cyber attack larger than originally thought, AP says
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August 16, 2015
14:24 EDTSBGIDISH, Sinclair reach short term contract extension, ask for stay on FCC action
DISH Network (DISH) and Sinclair Broadcast Group (SBGI) announced they have agreed to a short term contract extension as they continue to negotiate a new retransmission agreement. The current agreement was set to expire Saturday night. "The extension preserves DISH customer access to 153 local channels in 79 markets nationwide," said DISH. DISH is asking the Federal Communications Commission to stay action on its verified retransmission complaint and request for preliminary injunctive relief as the two parties continue to negotiate.
14:19 EDTSBGIDISH files FCC complaint against Sinclair ahead of potential channel blackout
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August 14, 2015
07:59 EDTFEYEAnalysts recommend cybersecurity stocks after recent underperformance
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07:00 EDTFEYESecurity 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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