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Stock Market & Financial Investment News

News Breaks
April 11, 2013
11:17 EDTPANW, CHKP, FIRE, FTNTFortinet pulls down Internet security sector after Q1 miss
A number of Internet security stocks are retreating after a company in the sector, Fortinet (FTNT), reported weaker than expected first quarter results. CATALYST: Fortinet, which develops network security products, announced preliminary first quarter earnings per share of 10c, versus analysts' consensus estimate of 12c. The company's revenue was also lower than expected. "Our financial results were negatively impacted by a few deals in the U.S. service provider segment which did not close as expected, macro factors in Latin America and (the Europe, Middle East and Africa region), and, to a lesser extent, the timing of new appliance product releases and inventory shortages," explained Fortinet CEO Ken Xie. Catalysts driving demand for Internet security products, however, remain strong, he added. TODAY'S PRICE ACTION: In late morning trading, Sourcefire (FIRE) dropped 2.6% to $53 and Palo Alto (PANW) gave back 1.3% to $54, while Fortinet slumped 16% to $18.40. BEARISH TAKE: A number of research firms, including Wells Fargo and Needham, reacted to Fortinet's results by downgrading the shares. Wells Fargo, which lowered its rating on the stock to Market Perform from Outperform, believes that the company could miss its 2013 guidance. The firm lowered its price target range on the shares to $17-$18 from $28-$29. Needham dropped the stock to Hold from Buy. BULLISH TAKE: Stifel Nicolaus recommended buying Fortinet's stock on weakness, as the firm thinks the shares' multiple is reasonable and that company could be viewed as a valuable takeover candidate. Stifel kept a Buy rating on the shares. Meanwhile, after conducting channel checks, Oppenheimer wrote that the valuation of Check Point (CHKP), another IT security company, is attractive. The firm expects Check Point to report in-line Q1 results and reiterate its FY13 guidance. Oppenheimer kept a $56 price target and Outperform rating on the shares.
News For FTNT;CHKP;PANW;FIRE From The Last 14 Days
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July 22, 2015
15:26 EDTFTNTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Qualcomm (QCOM), consensus 95... American Express (AXP), consensus $1.32... Texas Instruments (TXN), consensus 65c... Las Vegas Sands (LVS), consensus 61c... Crown Castle (CCI), consensus $1.06... Discover Financial (DFS), consensus $1.32... Tractor Supply (TSCO), consensus $1.11... SanDisk (SNDK), consensus 33c... SL Green Realty (SLG), consensus $1.56... Xilinx (XLNX), consensus 54c... Weatherford (WFT), consensus (12c)... F5 Networks (FFIV), consensus $1.60... United Rentals (URI), consensus $1.74... Fortinet (FTNT), consensus 9c... LaSalle Hotel (LHO), consensus 89c... Oceaneering International (OII), consensus 68c... Cheesecake Factory (CAKE), consensus 62c.
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.
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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July 17, 2015
14:37 EDTPANW, CHKP, FTNTUCLA Health says 4.5M individuals' data possibly exposed in cyber attack
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10:56 EDTFTNT, PANWCVS investigates credit card breach at online photo unit, KrebsOnSecurity says
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07:11 EDTPANWGigamon checks show continued momentum, says William Blair
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July 16, 2015
10:00 EDTPANWOn The Fly: Analyst Initiation Summary
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10:00 EDTCHKPOn The Fly: Analyst Downgrade Summary
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09:21 EDTCHKPCheck Point downgraded to Mixed from Positive at OTR Global
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09:12 EDTPANWPalo Alto initiated with a Buy at Cleveland Research
Target $218.
08:36 EDTPANWFinjan Holdings files second lawsuit against Blue Coat
Finjan Holdings (FNJN) announced that its subsidiary, Finjan, Inc. has filed a second patent infringement lawsuit against Blue Coat Systems, alleging infringement of seven Finjan patents relating to new infringing Blue Coat products and services. The Complaint, filed July 15, 2015, in the U.S. District Court for the Northern District of California, alleges that Blue Coat's new products and services infringe seven Finjan patents. In particular, Finjan is asserting infringement of U.S. Patent Nos. 6,154,844; 6,965,968; 7,418,731; 8,079,086; 8,225,408; 8,566,580; 8,677,494; four of which are being asserted against Blue Coat for the first time. Finjan is seeking a jury trial; entry of judgment of direct and indirect infringement of certain claims of each of the asserted patents by Blue Coat; preliminary and permanent injunction against Blue Coat and its officers, among others, from infringing the asserted patents; and damages to be determined by a jury. This original case against Blue Coat will be proceeding to trial on July 20, 2015, with all six patents included in Finjan's first complaint against Blue Coat. Those patents include 6,804,780; 6,154,844; 7,418,731; 6,965,968; 7,058,822 and 7,647,633. The trial in the first case is expected to last for two weeks. Finjan has filed patent infringement lawsuits against FireEye (FEYE), Proofpoint, Sophos, Symantec (SYMC), and Palo Alto Networks (PANW) relating to, collectively, more than 20 patents in the Finjan portfolio.
July 15, 2015
07:40 EDTCHKPCheck Point recent weakness unjustified, says Oppenheimer
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06:36 EDTPANWPalo Alto price target raised to $220 from $210 at Deutsche Bank
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06:07 EDTPANWPalo Alto implied volatility of 30 at lower end of index mean range
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July 14, 2015
07:12 EDTPANWPalo Alto management to meet with Deutsche Bank
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