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Stock Market & Financial Investment News

News Breaks
December 4, 2012
05:55 EDTFTNT, FTNT, FTNT, SGI, SGI, SGI, PLCM, PLCM, PLCM, TOSYY, TOSYY, TOSYY, MLNX, MLNX, MLNX, QTM, QTM, QTM, QLYS, QLYS, QLYS, FIRE, FIRE, FIRE, IMPV, IMPV, IMPV, BIRT, BIRT, BIRT, JNPR, JNPR, JNPR, ARUN, ARUN, ARUNFBN Securities to host a bus tour
3rd Semi-Annual Silicon Valley Technology Bus Tour travels throughout Silicon Valley on December 4-6 with additional meetings on December 10-11.
News For FTNT;JNPR;BIRT;IMPV;FIRE;QLYS;QTM;MLNX;TOSYY;PLCM;SGI;ARUN From The Last 14 Days
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February 25, 2015
16:38 EDTARUNOn The Fly: Closing Wrap
The Wall Street averages had a relatively quiet open and remained in a tight range for most of the session. The market moved to the high end of its range by mid-afternoon, which pushed the Dow and S&P to new highs and the Nasdaq ever closer to its 5,000 level. There was little momentum behind the move and the averages eventually faded, closing nearly unchanged for the session. ECONOMIC EVENTS: In the U.S., new home sales slipped 0.2% to a 481K annual pace in January, which was better than the expected 2.3% decline to a 471K rate. The DOE petroleum inventory report showed crude stockpiles grew by 8.4M barrels in the week of February 20, versus expectations for a 4M barrel increase. In China, HSBC and Markit's flash purchasing managers' index for February came in at 50.1, which was above the consensus outlook of 49.7 and represented a four month high. COMPANY NEWS: Shares of Hewlett-Packard (HPQ) dropped $3.82, or 9.92%, to $34.67 after the PC, printer and server maker reported lower than expected Q1 revenue and cut its FY15 EPS view and free cash flow outlook, citing separation costs and foreign exchange headwinds. However, analysts at Citigroup, Bernstein, and Brean Capital all recommended buying the stock on weakness in separate notes to investors today. Later in the day, Bloomberg reported, citing sources, that HP is in talks to make its biggest acquisition in several years by potentially acquiring Aruba Networks (ARUN), sending shares of the WiFi equipment maker up $3.86, or 21.0%, to $22.24. Shares of Aruba competitor Ruckus Wireless (RKUS) also gained 66c, or 5.89%, to $11.86 after Bloomberg's report on potential M&A in their space... Chesapeake Energy (CHK) slid $1.90, or 9.56%, to $17.98 after reporting worse than expected earnings amid the recent plunge in energy prices and announcing lower capital spending plans for 2015. MAJOR MOVERS: Among the notable gainers was Benefitfocus (BNFT), which jumped $10.85, or 47.24%, to $33.82 after reporting Q4 earnings and disclosing that Marsh & McLennan (MMC) subsidiary Mercer took a 9.9% stake in the company. Also higher was SFX Entertainment (SFXE), which gained $1.09, or 29.46%, to $4.79 after the company’s Chairman and CEO, Robert Sillerman, offered to acquire all of the outstanding shares of common stock of the company not already owned by him for $4.75 per share in cash. SFX Entertainment confirmed that it received the proposal and established a special committee to review and negotiate the nonbinding offer. Among the noteworthy losers was Lumber Liquidators (LL), which plunged $18.15, or 26.39%, to $50.63 after reporting Q4 earnings per share and revenue that missed consensus expectations, warning on its associated call that an upcoming "60 Minutes" piece may cast the company in an unfavorable light, and disclosing in its annual report that the Department of Justice indicated in recent communications that it is contemplating seeking criminal charges under the Lacey Act. Also lower following their earnings reports were shares of Republic Airways (RJET), which fell $2.17, or 14.49%, to $12.81, and LendingClub (LC), which dropped $3.14, or 13.28%, to $20.51. INDEXES: The Dow added 15.38, or 0.08%, to 18,224.57, the Nasdaq slipped 0.98, or 0.02%, to 4,967.14, and the S&P 500 dropped 1.62, or 0.08%, to 2,113.86.
15:59 EDTARUNAruba Networks moderates after extreme price swings on HP bid news
It was reported by Bloomberg near 3pm ET that Hewlett-Packard (HPQ) was in talks to buy the company. The shares remain up over 20% to $22.13 after hitting an intraday high at $23.49, close to the 52-week high at $23.90. The low to watch as support is at $21.07, the top of the intraday price gap.
15:40 EDTARUNAruba Networks a strong takeout candidate, says Northland
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15:08 EDTARUNRuckus Wireless up 5.5% after report of peer Aruba Networks in takeout talks
15:07 EDTARUNAruba Networks in talks to be acquired by Hewlett-Packard, Bloomberg says
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15:04 EDTARUNAruba Networks jumps 10.5%, halted after report on HP takeover talks
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15:03 EDTARUNAruba Networks in talks to be bought by Hewlett-Packard, Bloomberg says
February 24, 2015
16:20 EDTJNPRVMware appoints Bask Iyer as Chief Information Officer
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15:46 EDTJNPRJuniper CIO leaving company for same role at VMware, Business Insider says
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15:28 EDTJNPRJuniper to hold an analyst and investor update
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10:28 EDTFTNTAnalyst sees 'massive' IT security upgrade cycle still in early innings
A number of trends are spurring businesses and the government to spend aggressively on cyber security offerings, benefiting companies in the IT security sector, wrote research firm FBR Capital in a note to investors today. In conjunction, the firm raised its price target on a number of stocks in the sector. WHAT'S NEW: After conducting checks, FBR Capital analyst Daniel Ives believes that spending on advanced cyber security products has increased this quarter. The ongoing series of well-publicized cyber attacks on large companies is causing businesses to become more concerned about protecting themselves from this threat, according to Ive, who believes that advanced IT security products have "massive," once in a multi-decade growth potential. Data points indicate that enterprises are looking to buy more advanced firewall/cloud security solutions, while the sizes of purchases by customers in the space have increased. Meanwhile, given the high priority that the Obama administration has placed on cyber security, the federal government's spending on IT security is likely to rise in the coming quarters and years, Ives wrote. Forecasting a 20% increase in overall cyber security spending this year, the analyst believes that the following companies should benefit disproportionately from the positive trends, since they have "the right products at the right time:" Palo Alto (PANW), FireEye (FEYE), Proofpoint (PFPT), Check Point (CHKP), and Fortinet (FTNT). The analyst raised his price target on Fortinet to $39 from $36, on Palo Alto to $160 from $121, on Proofpoint to $67 from $60, and on Check Point to $93 from $85. He kept Outperform ratings on all the stocks named. WHAT'S NOTABLE: In its own note to investors, RBC Capital said it expects Palo Alto to report stronger than expected Q2 results, driven by "impressive" revenue and margin improvements. The firm raised its price target on the shares to $150 from $145 and kept an Outperform rating on the stock. PRICE ACTION:In early trading, Palo Alto added 0.2% to $138.41, FireEye advanced 1.2% to $43.87, Proofpoint lost slipped fractionally to $56.55, Check Point rose 0.5% at $82.77, and Fortinet gained 1.3% to $33.76.
09:16 EDTFTNTFortinet price target raised to $43 from $37 at BofA/Merrill
BofA/Merrill recommends focusing on Fortinet given 2015 revenue growth acceleration and margin improvement. The firm said Fortinet trades significantly below the peer group but is exhibiting accelerating billings and revenue growth and strong demand for new products. The firm reiterates its Buy rating and raised its price target to $43 and views downside as limited.
09:02 EDTJNPRJuniper adds 2 directors to board, announces agreement with Elliott
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08:32 EDTFTNTFBR checks show strong cybersecurity deal momentum
FBR Capital raised its price targets in the next-generation cybersecurity space after its channel checks showed strong deal momentum so far in the March quarter. The firm believes the "massive upgrade cycle" for next-generation cybersecurity remains in the early days. It raised its price target for Fortinet (FTNT) to $39 from $36, for Palo Alto (PANW) to $160 from $121, for FireEye (FEYE) to $53 from $45, for Proofpoint (PFPT) to $67 from $60 and for Check Point (CHKP) to $93 from $85.
07:19 EDTSGISusquehanna to hold a summit
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07:14 EDTQTM, JNPRCantor to hold a conference
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February 23, 2015
10:15 EDTQLYS, IMPV, FTNTCyberArk sinks after JPMorgan analyst cuts rating to sell
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February 20, 2015
10:53 EDTSGISilicon Graphics management to meet with Needham
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February 19, 2015
12:30 EDTIMPVImperva management to meet with Sterne Agee
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10:25 EDTQLYSQualys and China Biologic mentioned positively by Navellier
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