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Stock Market & Financial Investment News

News Breaks
March 7, 2014
09:16 EDTALSK, GTAT, NVTL, FEYE, VMEM, NLNK, SWY, SKUL, BIG, FL, FRM, DLIAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Foot Locker (FL), up 5.5%... Skullcandy (SKUL), up 25%... Big Lots (BIG), up 16%... Alaska Communications (ALSK), up 11%...ALSO HIGHER: dELiA's (DLIA), up 11% after Tiger Global Management reports 6.3% passive stake in the company... GT Advanced (GTAT), up 7% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Furmanite (FRM), down 3.8%... Novatel Wireless (NVTL), down 23%... Peregrine Pharmaceuticals (PPHM), down 10%. ALSO LOWER: NewLink (NLNK), down 9.7% after saying will continue IMPRESS Phase 3 study of algenpantucel-L... Violin Memory (VMEM), down 12.4% after earnings, downgrade at BofA/Merrill... FireEye (FEYE), down 6.6% after 14M share secondary offering of stock priced at $82.00... Safeway (SWY), down 3% after announcing a deal to be acquired by Albertsons for about an estimated $40 per share in a merger that had been reported on extensively.
News For FL;SKUL;DLIA;BIG;SWY;FRM;GTAT;NLNK;FEYE;ALSK;VMEM;NVTL From The Last 14 Days
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April 20, 2015
15:16 EDTSWYGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
12:35 EDTFEYECybersecurity stocks rally after Raytheon announces joint venture
The shares of cybersecurity companies are rising after Raytheon (RTN), a major defense contractor, announced that it was forming a cybersecuity joint venture with a company in the sector, Websense. Raytheon will acquire control of Websense as part of the deal. WHAT'S NEW: Raytheon announced that it had agreed to form a joint venture with Websense, which is owned by Vista Equity Partners. Under the deal, Websense will combine with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services segment. Raytheon will pay about $1.57B for an 80.3% stake in the joint venture. Additionally, Raytheon will pay $1.9B, net of cash acquired, to buy Websense. Of the $1.9B, $600M will be in the form of an intercompany loan to the joint venture. The combined company will be treated as a separate business segment of Raytheon, the defense contractor stated. John McCormack, the CEO of Websense, will be the CEO of the unit. The deal is expected to close next quarter. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Sam Pearlstein wrote that the deal will raise Raytheon's non-GAAP, 2015 adjusted earnings per share by about 6c. However, the transaction will lower Raytheon's EPS on a GAAP basis for 2015 by 48c, driven by amortization of intangibles, deferred revenue, and one-time costs, according to Pearlstein. The analyst kept an Outperform rating on Raytheon shares. WHAT'S NOTABLE: Cybersecurity company Check Point (CHKP) reported stronger than expected first quarter results today. Its Q2 guidance was roughly in-line with analysts' consensus estimates at the midpoints of the ranges given for earnings and revenue. Additionally, Check Point announced a partnership with another cybersecurity company, FireEye (FEYE). The companies said they would share threat intelligence to protect customers from modern advanced attacks. PRICE ACTION: In early afternoon trading,Check Point jumped 5.4% to $86.14, FireEye rose 3.8% to $42.39, Palo Alto (PANW) gained 2.4% to $146, Fortinet (FTNT) added 1.7% to $34.28, Proofpoint (PFPT) advanced 1.7% to $58, and Raytheon slid 0.3% to $107.40.
10:32 EDTFRMMustang Capital issues open letter to Furmanite shareholders
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08:25 EDTFEYECheck Point announces new partnership with FireEye
Check Point (CHKP) and FireEye (FEYE) announced a partnership to share threat intelligence to protect customers from modern advanced attacks. As part of this cooperation, Check Point's ThreatCloud and Next Generation Threat Prevention solutions and the FireEye NX platform will share the latest threat intelligence in real-time, allowing customers to update firewall security policies dynamically based on the intelligence from both platforms.
08:01 EDTFRMFurmanite says making additional corporate governance enhancements
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April 19, 2015
16:51 EDTFEYEFireEye labs detected limited APT campaign
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April 18, 2015
20:14 EDTFEYEFireEye to hold a technology briefing
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April 14, 2015
13:32 EDTNLNKMerck, NewLink Genetics confirm initiation of Phase 3 trial of Ebola vaccine
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10:16 EDTBIGHigh option volume stocks
High option volume stocks: NSAM ALU CJES BIG CMRX ERIC NTAP TMO KN CIG
April 13, 2015
16:11 EDTFRMProxy firm recommends Furmanite shareholders vote for Mustang board nominees
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14:18 EDTSWYTarget names Anne Dament as SVP, Merchandising
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11:24 EDTFEYEStocks with call strike movement; GPRO FEYE
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10:28 EDTFRMFurmanite says agrees with Glass Lewis that Mustang plan 'inherently risky'
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09:45 EDTFRMMustang Capital says nominees for Furmanite board recommended by ISS
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09:23 EDTNLNKNewLink Genetics April volatility elevated into data
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07:33 EDTFRMFurmanite urges shareholders to vote for director nominees
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06:47 EDTFEYEPalo Alto, FireEye remain Piper's favorite security ideas
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06:21 EDTFEYEFireEye April volatility elevated into Q1 and outlook
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April 12, 2015
18:11 EDTFEYEEx-hacker says many capable of launching Sony-style cyber attack, CNET says
Ninety percent of companies are vulnerable to a Sony (SNE)-like cyber attack security experts tell "60 Minutes," CNET says. Companies in the cyber security space include Barracuda (CUDA), FireEye (FEYE), Check Point (CHKP), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Qualys (QLYS), Symantec (SYMC) and Proofpoint (PFPT). Reference Link
12:48 EDTFEYEFireEye executive Kevin Mandia to appear on 60 Minutes broadcast
In a blog post from its website, FireEye said: "A little over four months ago, more than 18M viewers watched the 60 Minutes segment 'What Happens When You Swipe Your Credit Card,' in which FireEye was featured prominently. It was the most watched 60 Minutes broadcast in two years. Earlier this year, this legendary TV broadcast magazine was back for more, again turning to FireEye for our insights on the evolving threat landscape.Correspondent Steve Kroft and his producers spent a day on the FireEye campus and hours interviewing FireEye President Kevin Mandia for a segment that will appear on the 60 Minutes broadcast this Sunday, April 12." Reference Link
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