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Stock Market & Financial Investment News

News Breaks
April 14, 2014
12:11 EDTQLYS, CUDA, SYMC, PANW, FEYEPalo Alto jumps after two analysts raise their ratings
Shares of IT security company Palo Alto (PANW) are climbing after two research firms upgraded the stock in separate notes to investors earlier today. WHAT'S NEW: After meeting with Palo Alto, Stephens analyst Jonathan Ruykhaver wrote that he is more confident that the company is well-positioned to gain additional market share. The company's "strong" new products and its growing distribution infrastructure, along with its acquisition of Cyvera, should help it take share from its competitors, the analyst contended. Palo Alto's comprehensive security solutions for organizations should be appealing and enable the company to generate robust growth, wrote the analyst, who upgraded the stock to Overweight from Equal Weight and raised his price target on the shares to $85 from $75. Barclays analyst Raimo Lenschow also upgraded the stock, saying that the company's fundamentals are solid, while underlying trends in the IT security market appear to be improving. Lenschow upgraded the stock to Overweight from Equal Weight and kept a $78 price target on the shares. PRICE ACTION: In early afternoon trading, Palo Alto jumped 6% to $68.17. Other IT security companies, whose shares have been weak in recent sessions, also rose, as Barracuda Networks (CUDA) gained 2% to $28.40, Fireeye (FEYE) advanced 3.5% to $49.01, Symantec (SYMC) added 2% to $20.42, and Qualys (QLYS) gained 3% to $22.05.
News For PANW;CUDA;FEYE;SYMC;QLYS From The Last 14 Days
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July 24, 2015
05:45 EDTPANWProofpoint price target raised to $80 from $70 at Summit Research
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July 23, 2015
18:21 EDTPANW, FEYEOn The Fly: Top stock stories for Thursday
Stocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.
14:17 EDTFEYEEarnings Watch: Visa reports after 'top pick' mention by Bernstein
Visa (V) is expected to report third quarter results after the close on July 23, with a conference call scheduled for 5:00 pm ET. Visa is a global payments technology company. EXPECTATIONS: Analysts are looking for earnings per share of 59c on revenue of $3.36B. EPS consensus ranges 54c-65c on a revenue range of $3.32B-$3.41B, according to First Call. LAST QUARTER: On April 30, Visa reported second quarter EPS of 63c against expectations for 62c, and reported revenue of $3.41B versus estimates of $3.34B. During its quarterly conference call, the company noted that "we're now looking at Q3 fully diluted EPS being 6c-8c lower than analyst's current expectations," adding that results are likely to be pressured by higher client incentives. Visa executives also disclosed expectations for a "meaningful step-up" in Q3 expense growth, with a number of marketing and technology initiatives having shifted towards the latter half of the year. PEERS: American Express (AXP) reported quarterly earnings after the close on July 22, with earnings above consensus estimates but revenue somewhat below expectations, noting a "significant" impact from a stronger U.S. dollar on international operations. NEWS: On May 8, Bloomberg reported that Visa was in preliminary talks to acquire Visa Europe for $15B-$20B, according to sources. On June 3, Visa and FireEye (FEYE) announced a strategic partnership to co-develop tools and services to protect against cyber attacks targeting payment data. On June 5, the Wall Street Journal reported that, due to Visa and MasterCard (MA) having finalized their card-security technology, Google's (GOOG) Android Pay will not be earning any transaction fees from credit-card issuers, and on June 17, Reuters reported that a U.S. appeals court affirmed that American Express can no longer block businesses from steering customers towards competitor cards, such as those of Visa. STREET RESEARCH: On May 19, Pacific Crest's Josh Beck shifted his preference to MasterCard from Visa, though he noted that the shift was simply due to Visa's outperformance over the past year. On May 20, Bernstein noted that the risk/reward ratio for both Visa and MasterCard looks positive, with the companies offering secular growth, "compelling" business models, and modest risk. More recently on July 14, Bernstein named Visa among its "Vintage Values 2016" list, citing the company's U.S. acquirer price increase and expectations that the Visa Europe put option will be exercised this year. PRICE ACTION: Shares of Visa have fallen just under 1% to $71.41 ahead of Thursday's earnings report.
11:32 EDTSYMC, PANW, FEYEIT security stocks climb after Fortinet, F5 beat expectations
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July 22, 2015
19:02 EDTFEYEOn The Fly: After Hours Movers
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10:21 EDTCUDAJPMorgan positive on Barracuda after management meetings
JPMorgan analyst Sterling Auty left meetings with the CEO and CFO of Barracuda Networks "even more convinced" that the company's issues in Q1 were just "growing pains" from channel expansion. The company's business should reaccelerate and the stock should move higher as the issues sort themselves out, Auty tells investors in a research note. He views Barracuda as an attractively valued way to play the security trend and keeps an Overweight rating on the stock with a $42 price target.
July 21, 2015
06:07 EDTSYMCONUG: Yahoo hires VP of global network from Symantec
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July 17, 2015
14:37 EDTPANW, FEYE, QLYS, CUDA, SYMCUCLA Health says 4.5M individuals' data possibly exposed in cyber attack
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11:13 EDTCUDABarracuda management to meet with William Blair
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10:56 EDTFEYE, PANWCVS investigates credit card breach at online photo unit, KrebsOnSecurity says
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07:11 EDTFEYE, PANWGigamon checks show continued momentum, says William Blair
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July 16, 2015
10:00 EDTPANWOn The Fly: Analyst Initiation Summary
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09:12 EDTPANWPalo Alto initiated with a Buy at Cleveland Research
Target $218.
08:36 EDTPANW, FEYEFinjan Holdings files second lawsuit against Blue Coat
Finjan Holdings (FNJN) announced that its subsidiary, Finjan, Inc. has filed a second patent infringement lawsuit against Blue Coat Systems, alleging infringement of seven Finjan patents relating to new infringing Blue Coat products and services. The Complaint, filed July 15, 2015, in the U.S. District Court for the Northern District of California, alleges that Blue Coat's new products and services infringe seven Finjan patents. In particular, Finjan is asserting infringement of U.S. Patent Nos. 6,154,844; 6,965,968; 7,418,731; 8,079,086; 8,225,408; 8,566,580; 8,677,494; four of which are being asserted against Blue Coat for the first time. Finjan is seeking a jury trial; entry of judgment of direct and indirect infringement of certain claims of each of the asserted patents by Blue Coat; preliminary and permanent injunction against Blue Coat and its officers, among others, from infringing the asserted patents; and damages to be determined by a jury. This original case against Blue Coat will be proceeding to trial on July 20, 2015, with all six patents included in Finjan's first complaint against Blue Coat. Those patents include 6,804,780; 6,154,844; 7,418,731; 6,965,968; 7,058,822 and 7,647,633. The trial in the first case is expected to last for two weeks. Finjan has filed patent infringement lawsuits against FireEye (FEYE), Proofpoint, Sophos, Symantec (SYMC), and Palo Alto Networks (PANW) relating to, collectively, more than 20 patents in the Finjan portfolio.
07:59 EDTCUDABarracuda management to meet with JPMorgan
Meeting to be held in New York on July 21 hosted by JPMorgan.
July 15, 2015
08:39 EDTSYMCSymantec spinoff of storage unit better than sale, says Citi
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07:31 EDTSYMCSymantec, Frost Data parter to incubate cyber security startups
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06:36 EDTPANWPalo Alto price target raised to $220 from $210 at Deutsche Bank
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06:07 EDTPANWPalo Alto implied volatility of 30 at lower end of index mean range
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July 14, 2015
07:12 EDTPANWPalo Alto management to meet with Deutsche Bank
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