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Stock Market & Financial Investment News

News Breaks
April 11, 2013
11:17 EDTCHKP, FIRE, FTNT, PANWFortinet 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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November 24, 2014
16:05 EDTPANWPalo Alto sees Q2 EPS 16c-17c, consensus 16c
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16:05 EDTPANWPalo Alto reports Q1 EPS 15c, consensus 12c
Reports Q1 revenue $192.3M, consensus $181.73M.
15:20 EDTPANWNotable companies reporting after market close
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14:49 EDTPANWPalo Alto Networks November 112 straddle priced for 6.7% move
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08:34 EDTCHKPJefferies software analysts hold an analyst/industry conference call
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07:03 EDTPANWPalo Alto volatility elevated into Q1 and outlook
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November 21, 2014
14:49 EDTPANWPalo Alto volatility elevated into Q1 and outlook
Palo Alto November weekly call option implied volatility is at 65, December is at 51, January is at 46, March is at 42; compared to its 26-week average of 52 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on November 24.
10:01 EDTCHKPOn The Fly: Analyst Initiation Summary
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08:19 EDTPANWPalo Alto results, guidance should beat expectations, says JMP Securities
JMP Securities expects Palo Alto's Q1 results and its guidance to beat consensus estimates. The firm thinks the company benefited from strong demand for next generation security technologies as well as share gains from legacy firewall vendors.
November 20, 2014
16:56 EDTCHKPCheck Point initiated with a Buy at Jefferies
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11:05 EDTFTNTStephens hosts a conference call with Fortinet
Conference call with CEO Xie and CFO Del Matto is being held on November 21 at 2 pm.
08:00 EDTPANWPalo Alto Q1 business looks to be beating consensus, says Oppenheimer
Oppenheimer believes that its checks suggest that Palo Alto's business is tracking ahead of consensus estimates. The firm thinks the company has continued strength across all core products and geographies. It raised its price target on the name to $120 from $115 and keeps an Outperform rating.
07:19 EDTFTNTUBS to hold a conference
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November 19, 2014
09:01 EDTPANWBig data for security could reach $4B-$5B, says FBR Capital
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07:40 EDTCHKPUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link
November 18, 2014
10:15 EDTPANWPalo Alto price target raised to $120 from $110 at Imperial Capital
Imperial Capital raised its price target for Palo Alto Networks to $120 ahead of the company's Q1 results and keeps an Outperform rating on the stock. The firm says Palo is "emerging as a dominant player in security."
07:21 EDTPANWPalo Alto price target raised to $125 from $105 at Stephens
Stephens said it expects Palo Alto's Q1 results to beat consensus estimates, citing the firm's positive channel checks. The firm, which believes Palo Alto is continuing to take market share, raised its price target on the stock to $125 from $105 and maintains its Overweight rating on the shares.
November 17, 2014
06:48 EDTCHKP, FTNT, PANWState Department hacked, NY Times reports
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November 16, 2014
19:34 EDTPANW, CHKPFinancial services firms plan $2B increase in cybersecurity spending, WSJ says
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November 12, 2014
07:15 EDTCHKPCheck Point price target raised to $85 from $75 at BofA/Merrill
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