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Stock Market & Financial Investment News

News Breaks
May 13, 2014
08:28 EDTNOW, PFPT, PANW, VMWSeveral security, infrastructure stocks attractive , says Pacific Crest
Pacific Crest recommends buying shares of ServiceNow (NOW), Palo Alto (PANW), Proofpoint (PFPT, and VMware (VMW). The firm says that the stocks are down more than 25% on average from their recent highs, but their numbers continue to trend higher as their fundamentals remain strong. The firm remains upbeat on the security and infrastructure sector, and keeps Outperform ratings on all the stocks named.
News For NOW;PANW;PFPT;VMW From The Last 14 Days
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October 22, 2014
06:44 EDTPFPT, PANWU.S. weighing cybersecurity requirements for bank vendors, NY Times says
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06:41 EDTVMWVMware downgraded to Neutral from Buy at Nomura
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October 21, 2014
18:36 EDTVMWOn The Fly: After Hours Movers
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17:34 EDTVMWVMware reaffirms FY14 revenue guidance $6.0B-$6.04B, consensus $6.03B
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17:32 EDTVMWVMware reaffirms Q4 revenue guidance $1.67B-$1.71B, consensus $1.71B
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16:04 EDTVMWVMware reports Q3 EPS 87c, consensus 83c
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14:34 EDTVMWEarnings Preview: EMC reports after HPQ merger talks said to end
EMC Corporation (EMC) is expected to report third quarter earnings before the bell on Wednesday, October 22, with a conference call scheduled for 8:30 am ET. EMC provides software, hardware and IT services to business customers through its three federated businesses: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure, which is represented by EMC’s majority equity stake in VMware (VMW). VMware is expected to report on its own third quarter results after the bell on Tuesday, October 21, with a conference call scheduled for 5:00 pm ET. EXPECTATIONS: For EMC, analysts are looking for earnings per share of 46c on revenue of $6.0B. The consensus range is 44c-49c for EPS and $5.91B-$6.16B for revenue, according to First Call. Along with its last earnings report, EMC raised its FY14 adjusted EPS view to $1.91 from $1.90 and guided to FY14 revenues of $24.58B. Analysts consensus for FY14 EPS and revenue currently stand at $1.91 and $24.55B. For VMware, analysts are looking for earnings per share of 83c on revenue of $1.5B. The consensus range is 81c-85c for EPS and $1.48B-$1.52B for revenue, according to First Call. LAST QUARTER: EMC reported Q2 adjusted EPS of 43c, which matched the consensus expectation. EMC's revenue of $5.9B came in slightly ahead of the $5.83B consensus projection. EMC also accelerated its 2014 share buyback plan, stating that it now expects to repurchase an aggregate of $3B of the company's common stock in 2014. VMware reported Q2 EPS of 81c, versus consensus of 79c, on revenue $1.46B, versus consensus of $1.44B. NEWS: VMware held its "VMWorld 2014" conference from August 24-28, during which the company updated its 2015 guidance. VMware's guidance for revenue growth in the mid teens percentage level and margin expansion of up to one percentage point is positive, RBC Capital analyst Matthew Hedberg wrote in a note to investors on August 26. The same day Cowen analyst Gregg Moskowitz wrote that VMware's FY15 revenue guidance would "likely weigh modestly" on the stock, even though he was not surprised by the outlook. Less than two weeks ago, Elliott Management sent a letter to the board of directors of EMC Corporation detailing its recommendations on the right path forward for EMC, in which Elliott holds a stake. Elliott believes that EMC’s Federation structure obscures enormous value at the company and that the board and management should pursue pathways to recognize this value, including a separation of VMware from Core EMC and/or various M&A opportunities, Elliott wrote. In response, EMC said its directors regularly review and evaluate the company's strategy with a view towards enhancing shareholder value. "Over the past few months, EMC's leadership has met with representatives of Elliott several times and has listened carefully to their ideas, as we do with all of our shareholders," the company said. Last week, HP (HPQ) announced the resumption of its share repurchase program after Reuters reported the company's merger talks with EMC had ended. HP had suspended the buyback program due to "possession of material non-public information." The tech giant said that day that it is "no longer in possession of such information." During September, Re/code reported, citing sources familiar with Oracle's plans, that the company was not interested in acquiring EMC. Meanwhile, Cisco (CSCO) CEO John Chambers also said last month at a Wall Street Journal breakfast that his company is not among the potential merger partners for EMC. Chambers said a deal between the two companies would have been done a "year or two ago" were it to happen, according to Reuters. STREET RESEARCH: On the day after its last earnings report, Brean Capital raised its price target on EMC to $33 from $30, citing the company's aggressive capital return strategy, encouraging core Storage dynamics and potential pent up demand. Tigress Financial, however, downgraded EMC to Buy from Strong Buy, citing valuation. Additionally, VMware estimated that its total available market would reach more than $60B in 2017, versus its estimate last year of a $50B+ total addressable market by 2016, Moskowitz noted. PRICE ACTION: In afternoon trading, EMC shares are up 1% to $27.22, while VMware is fractionally higher at $87.79. Over the last three months, EMC shares have declined almost 4%, while VMware's stock is down about 5.5% in that same time frame.
13:30 EDTVMWVMware October weekly 88 straddle priced for 7.2% move into Q3
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07:30 EDTPANWPalo Alto price target raised to $115 from $100 at Oppenheimer
Oppenheimer raised its price target for Palo Alto Networks shares to $115 after meeting with management and reiterates an Outperform rating on the stock. The firm thinks shares can continue to move higher as the company's fundamentals remain intact.
October 20, 2014
08:04 EDTNOWServiceNow should have another beat and raise quarter, says RBC Capital
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October 17, 2014
14:24 EDTVMWVMware October weekly volatility elevated into Q3 and outlook
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October 16, 2014
08:34 EDTVMWVMware and Jasper announce collaboration to streamline enterprise adoption
VMware and Jasper announced a collaboration to make it easy for enterprises to deploy, monitor, manage and secure connected devices across the Internet of Things and enterprise mobility management. The collaboration between VMware and Jasper will aim to give organizations broader control and visibility over their connected devices in the enterprise, and enables them to make smarter, real-time operational decisions. The collaborations are set to be available in 2015.
October 14, 2014
18:20 EDTPANWOn The Fly: After Hours Movers
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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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09:16 EDTNOWServiceNow initiated with a Positive at OTR Global
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05:51 EDTVMWBrocade announces collaboration with VMware
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October 13, 2014
09:23 EDTNOWHP could buy lower valuation company, says Bernstein
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October 12, 2014
17:34 EDTPANWJPMorgan to double spending on cybersecurity over next five years, WSJ says
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