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Stock Market & Financial Investment News

News Breaks
February 7, 2014
12:26 EDTBRCD, IMPV, SYMC, CHKP, FEYEIT security names climb after Imperva revenue beats expectations
A number of IT security stocks are rising after one of the companies in the sector, Imperva (IMPV), reported higher than expected fourth quarter revenue. WHAT'S NEW: Imperva, which provides data security products, reported fourth quarter revenue of $42.7 million, versus analysts' consensus estimate of $41.61M. The company's earnings per share, however, came in at 6c, versus the consensus estimate of 11c. Imperva noted that it had continued to accelerate its investments in sales and marketing support, as well as product development infrastructure during the quarter, in order to take advantage of global demand for its products. Imperva said that it had added 237 new customers last quarter, up from 199 during the same period a year earlier. "Customer demand remains solid across all geographies, and our overall bookings growth once again outpaced revenue growth as our investment in sales and marketing infrastructure continues to pay off," said Imperva CEO Shlomo Kramer. Imperva's fiscal 2014 revenue guidance came in above expectations, but its EPS outlook was well below the consensus outlook. The company said that its forecast for a significant fiscal 2014 operating loss reflects expenses from recent acquisitions, as well as ongoing investments in R&D, sales and marketing. PRICE ACTION: In late morning trading, Imperva surged 7.9% to $59.65. Other IT security companies also advanced, with FireEye (FEYE) rising 6.3% to $70.50, Symantec (SYMC) gaining 1.5% to $20.80, Barracuda (BRCD) gaining 2% to $31.20, and Check Point (CHKP) adding 0.7% to $64.70.
News For IMPV;FEYE;SYMC;BRCD;CHKP From The Last 14 Days
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April 10, 2014
09:00 EDTIMPVImperva falls 34.1%
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08:57 EDTIMPVImperva should be bought after negative preannouncement, says Pacific Crest
After Impreva preannounced lower than expected Q1 revenue, Pacific Crest blamed the miss on a lack of sales execution and lengthening sales cycles. However, the firm is still upbeat on Imperva's outlook, as it expects demand for security products to increase. Pacific Crest reduced its price target on Imperva to $48 from $62. It recommends buying other IT security names, including Palo Alto (PANW) and Proofpoint (PFPT), on weakness in the wake of Imperva's guidance. The firm keeps Outperform ratings on all the stocks named.
08:45 EDTIMPVImperva price target lowered to $43 from $57 at BMO Capital
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08:25 EDTIMPVImperva downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Imperva following the negative Q1 pre-announcment.
07:53 EDTIMPVImperva price target lowered to $42 from $62 at JPMorgan
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07:37 EDTIMPVImperva price target lowered to $45 from $57 at Stephens
Stephens lowered its price target on Imperva to $45 after the company's preliminary Q1 results came in below expectations, but the firm believes the Q1 miss was timing related and that Imperva's growth can reaccelerate. The firm maintains its Overweight rating on the stock.
07:15 EDTIMPVImperva downgraded at Oppenheimer
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06:00 EDTIMPVImperva downgraded to Perform from Outperform at Oppenheimer
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April 9, 2014
19:01 EDTIMPV, FEYEOn The Fly: After Hours Movers
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17:49 EDTFEYE, SYMC, CHKP, IMPVImperva plummets after lowering Q1 EPS and revenue outlook
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17:32 EDTSYMC, CHKP, FEYE, IMPVImperva Q1 miss likely to weigh on Security sector, says Wells Fargo
Wells Fargo believes the magnitude of Imperva's (IMPV) Q1 miss will weigh on the Cyber Security industry since expectations for the group were relatively high going into Q1 earnings. Names in the space include Check Point (CHKP), Fortinet (FTNT), FireEye (FEYE), Palo Alto (PANW) and Symantec (SYMC). Wells notes, however, that it sees little direct fundamental implications for other names in the group as Imperva's issues were likely more company specific. Wells has Outperform ratings on Check Point, FireEye, Palo Alto and Fortinet.
16:17 EDTIMPVImperva plunges after hours following outlook
Shares were last down over 29% in the extended session to $33.50 following a weaker outlook from the company. At that price next support is at $31. Resistance is at $35.25.
16:11 EDTIMPVImperva sinks 30% following lowered Q1 outlook
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16:10 EDTIMPVImperva lowers Q1 adj EPS view to (44c)-(40c) from (37c)-(33c), consensus (35c)
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16:09 EDTIMPVImperva lowers Q1 revenue view to $31M-$31.5M from $36M-$37M
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16:08 EDTIMPVImperva lowers Q1 revenue view
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15:46 EDTFEYEFireEye volatility elevated on wide price movement
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10:06 EDTFEYEOn The Fly: Analyst Upgrade Summary
AmSurg (AMSG) upgraded to Buy from Hold at Cantor... CBOE Holdings (CBOE) upgraded to Buy from Neutral at BofA/Merrill... Carlyle Group (CG) upgraded to Outperform from Perform at Oppenheimer... FireEye (FEYE) upgraded to Buy from Hold at Topeka... Fortune Brands (FBHS) upgraded to Outperform from Neutral at Credit Suisse... Gray Television (GTN) upgraded to Outperform from Market Perform at Wells Fargo... Hibbett Sports (HIBB) upgraded to Overweight from Neutral at Piper Jaffray... LinkedIn (LNKD) upgraded to Buy from Hold at Topeka... Mallinckrodt (MNK) upgraded to Buy from Neutral at UBS... NXP Semiconductors (NXPI) upgraded to Strong Buy from Outperform at Raymond James... Nexstar (NXST) upgraded to Outperform from Market Perform at Wells Fargo... Penn National (PENN) upgraded to Overweight from Equalweight at Barclays... Philip Morris (PM) upgraded to Neutral from Reduce at Nomura... SAIC (SAIC) upgraded to Market Perform from Underperform at Wells Fargo... Sinclair Broadcast (SBGI) upgraded to Outperform from Market Perform at Wells Fargo... Yelp (YELP) upgraded to Buy from Fair Value at CRT Capital... Danaher (DHR) upgraded to Strong Buy from Buy at ISI Group... Quanex (NX) upgraded at BB&T... Omnicell (OMCL) upgraded at Craig-Hallum... Volkswagen (VLKAY) upgraded to Outperform from Market Perform at Bernstein... Magna (MGA) upgraded to Neutral from Sell at Citigroup... Actavis (ACT) upgraded to Positive from Neutral at Susquehanna... E-Trade (ETFC) upgraded to Neutral from Underperform at BofA/Merrill... AmerisourceBergen (ABC) upgraded to Outperform from Market Perform at FBR Capital... CONSOL (CNX) upgraded to Outperform from Neutral at Macquarie.
09:11 EDTFEYEOn The Fly: Pre-market Movers
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06:34 EDTFEYEFireEye upgraded to Buy from Hold at Topeka
Topeka upgraded FireEye based on valuation. Price target remains $70.
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