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Stock Market & Financial Investment News

News Breaks
April 11, 2013
11:17 EDTFTNT, CHKP, PANW, FIREFortinet 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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September 11, 2014
10:00 EDTPANWOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Airgas (ARG) initiated with a Neutral at Northcoast... CBOE Holdings (CBOE) initiated with a Buy at Deutsche Bank... CME Group (CME) initiated with a Buy at Deutsche Bank... Colfax (CFX) initiated with a Neutral at Northcoast... Corporate Office Properties (OFC) initiated with an Overweight at Capital One... Edwards Lifesciences (EW) initiated with a Buy at Sterne Agee... Energen (EGN) initiated with a Buy at Deutsche Bank... Goodrich Petroleum (GDP) initiated with an Outperform at Cowen... GreenHunter Resources (GRH) initiated with a Hold at Stifel... GrubHub (GRUB) initiated with a Market Perform at Barrington... Illinois Tool Works (ITW) initiated with a Neutral at Northcoast... IntercontinentalExchange (ICE) initiated with a Hold at Deutsche Bank... JD.com (JD) initiated with a Buy at Brean Capital... Lincoln Electric (LECO) initiated with a Buy at Northcoast... Live Nation (LYV) initiated with a Buy at Jefferies... Medtronic (MDT) initiated with a Neutral at Sterne Agee... Midstates Petroleum (MPO) initiated with a Market Perform at Cowen... NASDAQ (NDAQ) initiated with a Hold at Deutsche Bank... Newfield Exploration (NFX) initiated with an Outperform at Iberia... Newpark Resources (NR) initiated with an Outperform at Credit Suisse... Nuverra Environmental (NES) initiated with a Buy at Stifel... Palo Alto (PANW) initiated with a Buy at Roth Capital... Petrobras (PBR) initiated with an Outperform at Cowen... RSP Permian (RSPP) initiated with a Hold at Deutsche Bank... Sensata (ST) initiated with an Equal Weight at Morgan Stanley... Stage Stores (SSI) initiated with a Neutral at Credit Suisse... Synergy Resources (SYRG) initiated with an Outperform at Cowen... TE Connectivity (TEL) initiated with an Overweight at Morgan Stanley... Twitter (TWTR) initiated with a Buy at Canaccord... Walter Investment (WAC) initiated with an Underweight at Barclays... Washington REIT (WRE) initiated with an Equalweight at Capital One... Yandex (YNDX) initiated with a Buy at Canaccord... Yara International (YARIY) initiated with a Neutral at Credit Suisse.
07:29 EDTPANWDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 11 at 10:30 am; not all company presentations may be webcasted. Webcast Link
06:24 EDTPANWPalo Alto initiated with a Buy at Roth Capital
Target $120.
September 10, 2014
09:22 EDTPANWOn The Fly: Pre-market Movers
HIGHER: Twitter (TWTR), up 2.8% after upgraded at UBS... SunEdison (SUNE), up 2.7% after Google (GOOG) to provide $145M investment in the company's Regulus solar plant... Camtek (CAMT), up 15% after receiving new orders of $3.0M from large OSAT... Doral Financial (DRL), up 12.5% after announcing sale of approximately $430M in assets... Imperva (IMPV), up 1.5% after upgraded at Oppenheimer... Mandalay Digital (MNDL), up 13.7% after updating its guidance. UP AFTER EARNINGS: Land's End (LE), up 8.7%... Palo Alto (PANW), up 4.4%. LOWER: eBay (eBAY), down 2.6% after downgraded at Piper Jaffray following yesterday's launch of Apple Pay (AAPL)... Mobileye (MBLY), down 2.5% after downgraded at Deutsche Bank... Krispy Kreme (KKD), down 2% after Q2 earnings report... GT Advanced (GTAT), down 7% after downgraded at Goldman and Piper Jaffray... Boyd Gaming (BYD), down 3.3% after downgraded at Morgan Stanley... Urban Outfitters (URBN), down 2% after reporting Q3 SSS were so far in the low single-digits negative... Armada Hoffler (AHH), down 6% after filing to sell 5M shares of common stock... AvalonBay (AVB), down 1.8% after to sell 4.5M shares in a forward sales agreement with Goldman... AngloGold (AU), down 12% after announcing plans to restructure its international mining under a new company and saying equity capital raising being contemplated.
08:31 EDTPANWRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
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08:27 EDTPANWPalo Alto price target raised to $120 from $90 at JMP Securities
JMP Securities raised Palo Alto's price target to $120 following the strong Q4 report and guidance. Shares are Outperform rated.
08:17 EDTPANWPalo Alto price target raised to $105 from $90 at FBR Capital
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07:51 EDTPANWPalo Alto price target raised to $101 from $93 at UBS
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07:31 EDTPANWPalo Alto price target raised to $110 from $100 at RW Baird
Baird raised its price target on Palo Alto to $110 from $100 following the company's impressive Q4 results, citing raised guidance, strength in the APT market, and new products. The firm keeps its Outperform rating on shares of Palo Alto.
September 9, 2014
18:31 EDTPANWOn The Fly: After Hours Movers
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17:21 EDTPANWPalo Alto up almost 5% to $93.59 after reporting Q4 results and guidance
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16:08 EDTPANWPalo Alto sees Q1 EPS approximately 12c, consensus 12c
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16:07 EDTPANWPalo Alto reports Q4 EPS 11c, consensus 11c
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15:32 EDTPANWPalo Alto September weekly 89 straddle priced for 6.7% move into Q4
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15:30 EDTPANWNotable companies reporting after market close
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11:12 EDTPANWPalo Alto weekly volatility elevated into Q4 and outlook
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September 4, 2014
08:05 EDTPANWPalo Alto remains a top pick at Morgan Stanley
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07:16 EDTPANWPalo Alto weekly volatility elevated into Q4 and outlook
Palo Alto September 12 weekly call option implied volatility is at 63, September is at 51, October is at 46, December is at 41; compared to its 2-week average of 46 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on September 9.

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