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Stock Market & Financial Investment News

News Breaks
April 9, 2014
17:49 EDTIMPV, CHKP, FTNT, FEYE, PANW, SYMCImperva plummets after lowering Q1 EPS and revenue outlook
Imperva (IMPV), a data security solutions company, is down more than 34% in extended trading after the company lowered its first quarter earnings per share and revenue outlook. WHAT'S NEW: Imperva said it now sees a Q1 adjusted EPS view of (44c)-(40c), down from (37c)-(33c) and below the analyst consensus of (35c). The company also lowered its Q1 revenue view to $31M-$31.5M from $36M-$37M, below a consensus of $36.69M. The company said its Q1 results "were primarily impacted by extended sales cycles on deals over $100,000, which led to delays in receiving anticipated orders from customers, particularly in the U.S., which resulted in lower than expected revenue for products." ANALYST REACTION: Wells Fargo said it believes the magnitude of Imperva's Q1 miss will weigh on the Cyber Security industry since expectations for the group were relatively high going into earnings. Wells noted, however, that it saw little direct fundamental implications for other names in the group as Imperva's issues were likely more company specific. PRICE ACTION: Imperva is trading down $16.98, or 34.14%, to $32.75 in the after-hours. OTHERS TO WATCH: Other names in the space include Check Point (CHKP), Fortinet (FTNT), FireEye (FEYE), Palo Alto (PANW) and Symantec (SYMC). Both Fortinet and FireEye are trading down over 2% in the after-hours.
News For IMPV;CHKP;FTNT;FEYE;PANW;SYMC From The Last 14 Days
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October 14, 2014
17:41 EDTPANWPalo Alto CEO sees reaching operating margins goal within next two years
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17:39 EDTPANWPalo Alto CEO not concerned about margins
17:37 EDTPANWPalo Alto CEO says customers more thoughtful about purchases
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October 13, 2014
09:23 EDTFEYE, FTNT, CHKPHP could buy lower valuation company, says Bernstein
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08:05 EDTSYMCSymantec spun off companies could become targets, says Argus
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October 12, 2014
17:34 EDTSYMC, FEYE, PANWJPMorgan to double spending on cybersecurity over next five years, WSJ says
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October 10, 2014
17:14 EDTSYMCMarket ends week lower amid global growth worries
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10:01 EDTSYMCOn The Fly: Analyst Upgrade Summary
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09:08 EDTSYMCSymantec upgraded at Raymond James
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08:17 EDTSYMCSymantec split unlikely to create shareholder value, says Pacific Crest
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07:51 EDTSYMCSymantec may face heightened execution risk, says Wells Fargo
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07:42 EDTSYMCSymantec upgraded to Outperform from Market Perform at Raymond James
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07:21 EDTSYMCSymantec price target raised to $30 from $27 at JMP Securities
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06:48 EDTSYMCSymantec volatility low into announcing plans to separate into two companies
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October 9, 2014
16:14 EDTSYMCSymantec to resume trading at 4:20 pm ET after confirming split plans
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16:05 EDTSYMCSymantec plans to separate into two public companies
Symantec announced that its Board of Directors has unanimously approved a plan to separate the company into two, independent publicly traded companies: one business focused on security and one business focused on information management. The transaction is intended to take the form of a tax-free distribution to Symantec shareholders of 100% of the IM business in a new, independent, publicly traded stock. The expected stock distribution ratio will be determined at a future date. The company expects to complete the spinoff by the end of December 2015. The company expects to incur separation and restructuring charges through the completion of the transaction as it works to separate the two businesses. "Symantecís decision to pursue a separation follows an extensive business review of the companyís strategy and operational structure. Creating two standalone businesses will allow each entity to maximize its respective growth opportunities and drive greater shareholder value," the company stated. The security business generated revenue of $4.2B in FY14. The IM business generated revenue of $2.5B in FY14. Michael Brown will be the President and CEO of Symantec and Thomas Seifert will continue to serve as CFO. John Gannon will be General Manager of the new information management business and Don Rath will be its acting CFO.
16:03 EDTSYMCSymantec affirms Q2 guidance provided in August
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16:01 EDTSYMCSymantec plans to separate into two public companies
16:00 EDTSYMCSymantec trading halted, pending news
06:40 EDTIMPV, CHKP, FTNT, FEYE, SYMC, PANWSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
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