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Stock Market & Financial Investment News

News Breaks
July 16, 2014
13:06 EDTFTNT, FEYE, PANW, PFPTIT security stocks advance after upbeat Goldman note
Shares of a number of IT security stocks are rallying after Goldman Sachs wrote that it was upbeat on the sector in a note to investors today. WHAT'S NEW: Goldman Sachs analyst Matthew Niknam assumed coverage of the Security Software sector with an Attractive rating. Cyber threats have become larger and more costly, so many companies are increasing the amount of money they spend on IT security, Niknam wrote. Spending on security is increasing by the highest rate since 2010, the analyst estimated. Companies in the sector should see their free cash flow growth accelerate, while cash rich tech companies could become interested in carrying out M&A transactions with security vendors, the analyst predicted. Additionally, more mature companies in the sector should be able to buy back more of their shares going forward, Niknam believes. He identified Palo Alto (PANW) as his top pick in the space, as he believes that the company provides "the most unique blend of disruptive long-term growth and accelerating profitability." The company is poised to gain additional market share, while its growth going forward should beat expectations, Niknam stated. He raised his price target on the shares to $97 from $91 and kept a Conviction List-Buy rating on the stock. Meanwhile, the analyst upgraded another stock in the sector, FireEye (FEYE), to Buy from Neutral after assuming coverage of the shares. The company's status as the market leader in fighting Advanced Persistent Threats, or APTs, leaves it well-positioned in the current market, he contended. An IT survey indicates that most respondents plan to increase their APT-related spending, and 59% of the respondents say they plan to spend more money on solutions from a new vendor, Niknam reported. Furthermore, FireEye's revenue growth likely accelerated in Q2 and its revenue should beat expectations in 2014 and 2015, while the company's free cash flow should come in above consensus levels next year, Niknam predicted. FireEye may eventually be acquired by another company, according to Niknam, who raised his price target on the shares to $42 from $36. WHAT'S NOTABLE: Niknam initiated coverage of Proofpoint (PFPT) with a Buy rating as he predicted that the company's growth and free cash flow would beat expectations in the near-term and he believes that the company could also become a takeover target. The analyst started coverage of Fortinet (FTNT) with a Neutral rating. PRICE ACTION: In early afternoon trading, Palo Alto climbed 3% to $78.36, FireEye rose 3.5% to $34.99, Proofpoint climbed 3.6% to $34.46, and Fortinet rose 1% to $24.24.
News For PANW;FEYE;PFPT;FTNT From The Last 14 Days
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January 28, 2015
16:47 EDTFTNTFortinet sees FY15 EPS 49c-50c, consensus 59c
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16:46 EDTFTNTFortinet sees Q1 EPS about 6c, consensus 12c
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16:26 EDTFTNTFortinet up 4.8% after reporting Q4 results
16:23 EDTFTNTFortinet reports Q4 EPS 14c, consensus 14c
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15:37 EDTFTNTNotable companies reporting after market close
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07:59 EDTFEYESenate Homeland Security & Government Affairs Committee to hold a hearing
The Committee holds a hearing entitled, "Protecting America from Cyber Attacks: The Importance of Information Sharing" with EVP of American Express, Marc Gordon, VP of Microsoft, Scott Charney, EVP of Marsh & McLennan, Peter Beshar and Chief Security Strategist of FireEye, Richard Bejtlich, on January 28 at 2:30 pm. Webcast Link
January 27, 2015
11:14 EDTFEYEStocks with call strike movement; PBR FEYE
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09:35 EDTPANWPalo Alto poised to beat consensus estimates, says Wells Fargo
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09:32 EDTFEYEFireEye should report strong Q4 results, says Wells Fargo
Wells Fargo believes that FireEye benefited last quarter from strong demand for advanced malware detection solutions and good demand for its endpoint product. The firm is confident that the company's Q4 billings can meet or exceed the consensus outlook of $203M. It keeps an Outperform rating.
January 26, 2015
10:00 EDTFTNTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Axle (AXL) upgraded to Overweight from Neutral at JPMorgan... Bed Bath & Beyond (BBBY) upgraded to Outperform from Perform at Oppenheimer... DRDGOLD (DRD) upgraded to Neutral from Underweight at JPMorgan... DealerTrack (TRAK) upgraded to Buy from Hold at Stifel... DreamWorks Animation (DWA) upgraded to Buy from Neutral at B. Riley... First Niagara (FNFG) upgraded to Buy from Hold at Jefferies... Fortinet (FTNT) upgraded to Buy from Neutral at Citigroup... Garmin (GRMN) upgraded at RBC Capital... Harmony Gold (HMY) upgraded to Overweight from Neutral at JPMorgan... Invesco (IVZ) upgraded to Positive from Neutral at Susquehanna... Kansas City Southern (KSU) upgraded at Raymond James... McDonald's (MCD) upgraded to Overweight from Equal Weight at Stephens... Melco Crown (MPEL) upgraded to Buy from Hold at Union Gaming... Monro Muffler (MNRO) upgraded to Neutral from Reduce at SunTrust... Pier 1 Imports (PIR) upgraded to Outperform from Perform at Oppenheimer... Piper Jaffray (PJC) upgraded to Neutral from Underperform at Macquarie... Randgold (GOLD) upgraded to Overweight from Neutral at JPMorgan... Rockwell Collins (COL) upgraded to Buy from Hold at Argus... Telefonica (TEF) upgraded to Neutral from Underperform at BofA/Merrill... Triumph Group (TGI) upgraded at RBC Capital... Unilever (UL) upgraded to Buy from Underperform at BofA/Merrill... WWE (WWE) upgraded to Neutral from Underperform at Macquarie.
09:05 EDTFTNTCiti sees low estimates for Fortinet, upgrades to Buy
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06:59 EDTFTNTFortinet Q4 checks very positive says JMP Securities
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06:51 EDTFTNTFortinet upgraded to Buy from Neutral at Citigroup
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January 23, 2015
10:02 EDTPANWOn the Fly: Analyst Downgrade Summary
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08:23 EDTPANWPalo Alto downgraded to Neutral from Outperform at Macquarie
07:47 EDTFTNTFortinet Q4 results likely to beat expectations, says Oppenheimer
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January 22, 2015
07:42 EDTFEYE, FTNT, PFPT, PANWIT security demand very strong, says Wells Fargo
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06:24 EDTFTNT, FEYEJPMorgan downgrades three in Software, FireEye a top pick
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January 20, 2015
08:24 EDTPANWPalo Alto price target raised to $165 from $130 at Stephens
Stephens said it came away from a call with the CMO of Palo Alto Networks believing that the company's newly released "Traps" endpoint product has the potential to provide the next leg of growth for the company. Citing expectations for Traps, the raised its price target on Palo Alto to $165 from $130 and reiterates its Overweight rating on the stock.
January 19, 2015
12:39 EDTFEYEFireEye achieves certification within UK Cyber Essentials Scheme
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