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Stock Market & Financial Investment News

News Breaks
May 19, 2014
11:33 EDTCUDA, FEYE, PFPT, IMPVFireEye advances after analyst predicts sentiment could rebound
Shares of IT security company FireEye (FEYE) are rallying after Nomura predicted in a note to investors earlier today that sentiment towards the stock could improve following its lock-up expiration on May 21. WHAT'S NEW: After restrictions preventing FireEye insiders from selling stock expire on May 21 investors could become more optimistic about the shares, Nomura analyst Rick Sherlund predicted. FireEye has a robust opportunity in the IT security market and its technology is "best-of-breed," while its management team is strong, the analyst stated. Additionally, the company is adding new products and its advanced persistent threat technology could become more mainstream, said Sherlund. FireEye is investing heavily and losing money, but investors with a longer term time horizon could benefit from the company's positive attributes, the analyst indicated. The stock reached an attractive entry point, wrote Sherlund before the market opened. He kept a Buy rating on the shares. PRICE ACTION: FireEye, which has tumbled about 60% in the last three months, rose about 3% to $28.82 in late morning trading. OTHERS TO WATCH: Other stocks in the sector were also advancing this morning, with Proofpoint (PFPT) rising 5.5%, Imperva (IMPV) gaining 2% and Barracuda Networks (CUDA) climbing a bit more than 2%.
News For FEYE;PFPT;IMPV;CUDA From The Last 14 Days
Check below for free stories on FEYE;PFPT;IMPV;CUDA the last two weeks.
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July 24, 2014
12:36 EDTCUDAAnalyst says Barracuda weakness may be based on misunderstanding
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10:56 EDTCUDABarracuda Networks pullback may be due to misinterpretation, says JPMorgan
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July 23, 2014
13:28 EDTFEYECheck Point advances after results beat expectations
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July 16, 2014
13:06 EDTPFPT, FEYEIT security stocks advance after upbeat Goldman note
Shares of a number of IT security stocks are rallying after Goldman Sachs wrote that it was upbeat on the sector in a note to investors today. WHAT'S NEW: Goldman Sachs analyst Matthew Niknam assumed coverage of the Security Software sector with an Attractive rating. Cyber threats have become larger and more costly, so many companies are increasing the amount of money they spend on IT security, Niknam wrote. Spending on security is increasing by the highest rate since 2010, the analyst estimated. Companies in the sector should see their free cash flow growth accelerate, while cash rich tech companies could become interested in carrying out M&A transactions with security vendors, the analyst predicted. Additionally, more mature companies in the sector should be able to buy back more of their shares going forward, Niknam believes. He identified Palo Alto (PANW) as his top pick in the space, as he believes that the company provides "the most unique blend of disruptive long-term growth and accelerating profitability." The company is poised to gain additional market share, while its growth going forward should beat expectations, Niknam stated. He raised his price target on the shares to $97 from $91 and kept a Conviction List-Buy rating on the stock. Meanwhile, the analyst upgraded another stock in the sector, FireEye (FEYE), to Buy from Neutral after assuming coverage of the shares. The company's status as the market leader in fighting Advanced Persistent Threats, or APTs, leaves it well-positioned in the current market, he contended. An IT survey indicates that most respondents plan to increase their APT-related spending, and 59% of the respondents say they plan to spend more money on solutions from a new vendor, Niknam reported. Furthermore, FireEye's revenue growth likely accelerated in Q2 and its revenue should beat expectations in 2014 and 2015, while the company's free cash flow should come in above consensus levels next year, Niknam predicted. FireEye may eventually be acquired by another company, according to Niknam, who raised his price target on the shares to $42 from $36. WHAT'S NOTABLE: Niknam initiated coverage of Proofpoint (PFPT) with a Buy rating as he predicted that the company's growth and free cash flow would beat expectations in the near-term and he believes that the company could also become a takeover target. The analyst started coverage of Fortinet (FTNT) with a Neutral rating. PRICE ACTION: In early afternoon trading, Palo Alto climbed 3% to $78.36, FireEye rose 3.5% to $34.99, Proofpoint climbed 3.6% to $34.46, and Fortinet rose 1% to $24.24.
10:00 EDTPFPTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
09:23 EDTFEYEOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
05:52 EDTPFPTProofpoint initiated with a Buy at Goldman
Target $42.
05:47 EDTFEYEFireEye assumed with a Buy from Neutral at Goldman
Goldman upgraded FireEye to Buy after assuming coverage of the stock and raised its price target for shares to $42 from $36. Goldman believes FireEye is positioned as the market leader in battling Advanced Persistent Threats.
July 15, 2014
07:24 EDTPFPTMicrosoft to hold a conference
MSFT Worldwide Partner Conference to be held in Washington, D.C. on July 13-17.
July 11, 2014
09:09 EDTCUDAOn The Fly: Pre-market Movers
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08:09 EDTPFPTProofpoint shares should be bought ahead of results, says Pacific Crest
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07:24 EDTCUDABarracuda Networks management to meet with JPMorgan
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July 10, 2014
18:35 EDTCUDAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Joe's Jeans (JOEZ), up 15.5% after reporting second quarter results above analyst estimates... Barracuda Networks (CUDA), up 2.2% after reporting quarterly results and guidance... DOWN AFTER EARNINGS: PriceSmart (PSMT), down 3.7% after reporting third quarter revenue below analyst estimates... Rent-A-Center (RCII), down 11% after reporting disappointing preliminary second quarter results. ALSO LOWER: Gap (GPS), down 2% after reporting June Same Store Sales down 2%... Arotech (ARTX), down 5.6% after filing an automatic common stock shelf... NOTABLE: MGIC Investment (MTG), down 4.8% and Radian Group (RDN), down 3.8% following the FHFA proposal to tighten capital rules for mortgage insurers.
16:59 EDTCUDABarracuda Networks sees FY15 EPS 14c-18c, consensus 14c
Sees FY15 revenue $270M-$274M, consensus $270.27M.
16:55 EDTCUDABarracuda Networks sees Q2 EPS 3c-4c, consensus 3c
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16:18 EDTCUDABarracuda Networks reports Q1 EPS 7c, consensus 3c
Reports Q1 revenue $66.21M, consensus $64.38M.
15:13 EDTCUDANotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include PriceSmart (PSMT), consensus 69c; Barracuda Networks (CUDA), consensus 3c; Zep, Inc. (ZEP), consensus 39c; VOXX (VOXX), consensus 6c; Joe's Jeans (JOEZ), consensus (3c); Ceres (CERE), one estimate (32c).

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