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February 10, 2014
12:41 EDTIMPV, TGT, PFPT, CHKP, CUDA, SYMC, PANW, FEYEFireEye rallies after firm calls 'once in a decade opportunity'
Shares of IT security company FireEye (FEYE) are climbing after Wells Fargo initiated coverage of the stock with an Outperform rating in a note to investors earlier today. WHAT'S NEW: FireEye has "truly disruptive technology" and "offers a once in a decade opportunity," Wells Fargo stated. Moreover, recent high profile cyber attacks on retailers, including Target (TGT) and Neiman Marcus, have increased awareness of IT security companies in general and those with anti-malware tools, including FireEye, in particular, the firm contended. It predicted that FireEye's compound annual growth rate would reach 45% or higher over the next five years. The firm kept an $83-$87 price target and Outperform rating on the shares. WHAT'S NOTABLE: Other companies with anti-malware products include Symantec (SYMC) and Barrcauda Networks (CUDA). Other IT security companies include Palo Alto (PANW), Proofpoint (PFPT), Imperva (IMPV), and Check Point (CHKP). PRICE ACTION: In early afternoon trading, FireEye rose $4.17, or 5.9%, to $74.90.
News For FEYE;SYMC;CUDA;PANW;PFPT;IMPV;CHKP;TGT From The Last 14 Days
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July 23, 2015
18:21 EDTPANW, FEYEOn 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 dayís 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.
16:27 EDTPFPTProofpoint sees FY15 adjusted EPS (40c)-(39c), consensus (38c)
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16:25 EDTPFPTProofpoint sees Q3 adjusted EPS (12c)-(11c), consensus (9c)
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16:24 EDTPFPTProofpoint reports Q2 adjusted EPS (9c), consensus (9c)
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15:04 EDTPFPTNotable companies reporting after market close
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14:17 EDTFEYEEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
11:32 EDTPANW, FEYE, SYMCIT security stocks climb after Fortinet, F5 beat expectations
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July 22, 2015
19:02 EDTFEYEOn The Fly: After Hours Movers
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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.
10:10 EDTCHKPHigh option volume stocks
High option volume stocks: HNT THOR QRVO CYTR CBRL MAS CHKP TUP NXPI VEDL
09:07 EDTCHKPOn The Fly: Pre-market Movers
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09:03 EDTCHKPCheck Point says need to consolidate security vendors 'very high'
08:46 EDTCHKPCheck Point sees Q3 adjusted EPS 92c-$1.02, consensus 97c
Sees Q3 revenue $392M-$410M, consensus $403.08M. Guidance provided during Q2 earnings conference call.
08:38 EDTTGTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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05:27 EDTCHKPCheck Point reports Q2 EPS 99c, consensus 95c
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July 21, 2015
15:02 EDTCHKPNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 60c... Boeing (BA), consensus $1.42... Abbott Laboratories (ABT), consensus 50c... Thermo Fisher Scientific (TMO), consensus $1.78... EMC (EMC), consensus 41c... Illinois Tool Works (ITW), consensus $1.28... St. Jude Medical (STJ), consensus $1.00... Northern Trust (NTRS), consensus 96c... Check Point Software (CHKP), consensus 95c... Polaris Industries (PII), consensus $1.58... Interpublic Group (IPG), consensus 27c... New York Community Bancorp (NYCB), consensus 26c... B/E Aerospace (BEAV), consensus 76c... Owens Corning (OC), consensus 54c... Knight Transportation (KNX), consensus 37c.
15:01 EDTCHKPCheck Point technical notes ahead of earnings news
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06:07 EDTSYMCONUG: Yahoo hires VP of global network from Symantec
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July 20, 2015
13:46 EDTTGTAmazon seen eclipsing Macy's as top U.S. clothing retailer
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July 19, 2015
18:13 EDTTGTMacy's considered, rejected sale/lease-backs in past, WSJ says
Macy's (M) executives have considered sale/lease-backs "over the years" and have come to negative conclusions, reports the Wall Street Journal, citing people familiar with the company. The report comes in the wake of Starboard Value pressuring Macy's to spin off its real estate, and sources said the activist investor sees several options, including a REIT, a Hudsonís Bayís-style real estate partnership, a sale/lease-back, or borrowing money against the properties. Separately, a source said Target (T) is still reluctant to relinquish control over its real estate. Reference Link
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