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Stock Market & Financial Investment News

News Breaks
February 24, 2014
07:33 EDTFEYE, INTCHead of security at Intel says FireEye CEO wrong about antivirus, FT says
Michael DeCesare, President of Intel Security (INTC), believes the large existing players like his company will dominate the fast-growing sector, despite vocal critiques from newer industry players, particularly FireEye (FEYE) CEO David De Walt, that the antivirus industry is dead, reported Financial Times. Reference Link
News For INTC;FEYE From The Last 14 Days
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February 26, 2015
11:03 EDTINTCSamsung ranks first in 2014 EU patent applications
The European Patent Office reports that Samsung (SSNLF) was ranked first in number of European patent applications for 2014 with 2,541 applications filed. Philips (PHG) took second place with 2,317, Siemens (SIEGY) took third with 2,133, BASF (BASFY) took sixth with 1,530, Qualcomm (QCOM) took seventh with 1,459, Ericsson (ERIC) took ninth with 1,347, and Intel (INTC) took 10th with 1,054 applications filed.
06:30 EDTINTCARM Holdings looking to expand to Internet of Things, servers, WSJ reports
ARM Holdings (ARMH) is trying to break into the nascent Internet of Things market and the server segment, according to The Wall Street Journal. In the server market, ARM is looking to take share from Intel (INTC), the newspaper stated. Reference Link
06:26 EDTINTCCiti sees downside risk to consensus estimates for Intel
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February 25, 2015
10:34 EDTINTCHP slide after currency driven guidance cut called buying opportunity
The shares of Hewlett-Packard (HPQ) are falling after the company reported lower than expected first quarter revenue and sharply lowered its free cash flow guidance and cut its fiscal year profit view. However, analysts at Citigroup, Bernstein, and Brean Capital all recommended buying the stock on weakness in separate notes to investors today. BACKGROUND: HP reported slightly higher than expected Q1 profits, but its revenue came in below expectations. The company sharply lowered its fiscal 2015 free cash flow guidance to $3.5B-$4B from its previous outlook of $6.5B-$7B. The tech giant also lowered its fiscal 2015 EPS guidance to $3.53-$3.73 from its previous outlook of $3.83-$4.30. "While we were able to manage the impact of currency in the quarter and deliver earnings as expected, we believe the impact on FY15 will be significantly greater than we anticipated in November. We'll work hard to offset these impacts through re-pricing and productivity, but fully mitigating currency movements of this size would require reducing investments and mortgaging our future. We won't do that," said HP CEO Meg Whitman. ANALYST REACTION: The decline in HP's EPS guidance was entirely due to foreign currency fluctuations, while most of the cut in its free cash flow guidance was caused by one-time costs related to the upcoming split of HP into two separate companies, Citi analyst Jim Suva stated. Most of the company's businesses "continue to perform well or at least make progress," wrote Suva. The decline in the stock has created an attractive entry point for investors who are looking to own the shares in order to benefit from the break-up, according to the analyst. He kept a Buy rating on the shares. Bernstein analyst A.M. Sacconaghi was less upbeat on HP's outlook, but also recommended buying the shares on today's weakness. Although revenue estimates for HP may be too high, the stock's valuation remains attractive, as it is the second least expensive tech stock in the S&P 500, according to Sacconaghi, who believes the shares are worth $45-$50. Cautioning that HP's stock is likely "to be in the penalty box" in the near-term, Sacconaghi nonetheless believes that the shares could get a significant boost when the company provides more information about its spin-off. He recommended that investors buy the stock on today's weakness and kept an Outperform rating on the shares. HP's fundamentals haven't changed, as the company continues to expect its revenue to remain flat in fiscal 2015, and it has not changed its capital return guidance, Brean Capital analyst Ananda Baruah stated. The company also continues to expect free cash flow of at least $5B-$6B in 2016 and beyond, Baruah added. Moreover, HP's share repurchases are unlikely to be significantly reduced as a result of the decline in its free cash flow guidance, the analyst predicted. Baruah recommended buying the stock on today's weakness and kept a $45 price target and Buy rating on the shares. PRICE ACTION: In early trading, HP fell 9.5% to $34.84. OTHERS TO WATCH: Other large cap PC levered names are also weak in morning trading after HP's report last night, with Microsoft (MSFT) down 0.25% and Intel (INTC) down 1.2%.
09:25 EDTINTCCisco, Apple among U.S. names cut from China state buying list, Reuters says
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07:27 EDTINTCThe Linley Group to hold a conference
Linley Data Center Conference 2015 is being held in Santa Clara, California on February 25-26.
February 24, 2015
10:28 EDTFEYEAnalyst 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.
08:32 EDTFEYEFBR 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.
February 23, 2015
10:51 EDTFEYEStocks with call strike movement; FEYE AAL
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10:32 EDTFEYEFireEye falls, levels to watch
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10:15 EDTFEYECyberArk sinks after JPMorgan analyst cuts rating to sell
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09:59 EDTINTCOn The Fly: Analyst Initiation Summary
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08:46 EDTINTCIntel initiated with an Outperform at Exane BNP Paribas
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February 20, 2015
09:08 EDTFEYEFireEye price target raised to $50 from $44 at UBS
UBS raised its price target on FireEye to $50 from $44 following meetings with management. The firm cited improved business trends, new partnerships and higher state and local government spending. UBS reiterated its Buy rating on FireEye shares.
February 17, 2015
17:02 EDTINTCSoros Fund Management gives quarterly update on stakes
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09:19 EDTINTCDocument Security files patent infringement claims against Intel, others
DSS Technology Management, a subsidiary of Document Security (DSS), announced the filing of a patent infringement lawsuit against the Intel (INTC); Dell; GameStop (GME); Conn's Inc. (CONN) and Conn Appliances; NEC Corporation of America; Wal-Mart Stores (WMT) and Wal-Mart Stores Texas, and AT&T (T) in the United States District Court for the Eastern District of Texas, Tyler Division. DSS's complaint alleges infringement by Intel, Dell, GameStop (GME), Conn's, NEC, Wal-Mart, and AT&T of US Patents 5,965,924 and 6,784,552, which relate to semiconductor manufacturing.
07:50 EDTFEYEFireEye price target raised to $49 from $44 at BofA/Merrill
BofA/Merrill raised Buy rated FireEye's price target to $49 to reflect expected improvements in cash flow as investment in international infrastructure and M&A slows. The firm continues to view FireEye as a top pick given technological advantages, upside to billings and revenue growth, execution abilities, and strong sector trends.
07:22 EDTINTCMitsubishi UFJ to hold a tour
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05:55 EDTINTCIntel to delay launch of 14nm Skylake desktop CPUs, DigiTimes reports
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February 15, 2015
17:43 EDTFEYECybersecurity firm Kaspersky warns of cyber attack on banks, FT says
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