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Stock Market & Financial Investment News

News Breaks
July 16, 2014
13:06 EDTFTNT, PANW, FEYE, 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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October 13, 2014
09:23 EDTFTNT, FEYEHP could buy lower valuation company, says Bernstein
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October 12, 2014
17:34 EDTPANW, FEYEJPMorgan to double spending on cybersecurity over next five years, WSJ says
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October 9, 2014
06:40 EDTFEYE, PANW, FTNT, PFPTSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
October 8, 2014
12:12 EDTPANWPalo Alto management to meet with Oppenheimer
Meeting to be held in Canada on October 14 hosted by Oppenheimer.
08:01 EDTFTNTFortinet should be bought ahead of earnings, says Pacific Crest
Pacific Crest believes that Fortinet's core momentum remains strong as it continues to gain share in enterprise deals. The firm thinks the company could beat expectations. It keeps an Outperform rating on the shares.
07:58 EDTPANWPalo Alto price target raised to $120 from $105 at Pacific Crest
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07:52 EDTPANWPalo Alto has positive catalysts, says Wells Fargo
After meeting with Palo Alto's management, Wells Fargo thinks the company's new endpoint security product could increase its long-term revenue growth by five or six percentage points. The firm expects the company's product revenue to be boosted by an existing customer refresh cycle in 2015, and Wells is confident in the company's service revenue outlook. It raised its price target on the name to $112-$129 from $113-$120 and keeps an Outperform rating on the shares.
October 7, 2014
09:14 EDTFEYEOn The Fly: Pre-market Movers
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08:46 EDTFEYEFireEye announces targeted attack protection for Apple platform
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07:26 EDTFEYEMandiant to hold a conference
5th Annual MIRcon 2014 is being held in Washington, D.C. on October 7-8.
05:18 EDTFEYEFireEye, SingTel announce strategic partnership in Asia Pacific
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October 6, 2014
14:09 EDTFTNTSplunk, Tableau seen by Morgan as well-positioned in Big Data space
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12:22 EDTFEYEFireEye risk/reward compelling, says UBS
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11:56 EDTFEYEFireEye fundamentals solid, expect Q3 beat, says UBS
UBS believes FireEye's valuation is compelling and views concerns as overblown. The analyst believes FireEye is poised for an increase in business activity and checks indicate a few multimillion dollar new and repeat orders. UBS expects strong 2H results and reiterates its Buy rating and $40 price target.
11:56 EDTFEYEStocks with call strike movement; FEYE MBLY
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11:15 EDTFEYEFireEye volatility increases as shares pullback
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11:10 EDTFEYEFireEye trades lower, levels to watch
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10:04 EDTFTNTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at Piper Jaffray... Air France-KLM (AFLYY) downgraded to Neutral from Buy at Citigroup... BAE Systems (BAESY) downgraded to Hold from Buy at Societe Generale... Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Wedbush... Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Barclays... Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Barclays... Deckers Outdoor (DECK) downgraded to Neutral from Overweight at Piper Jaffray... Delhaize (DEG) downgraded to Hold from Buy at Deutsche Bank... Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley... McDonald's (MCD) downgraded to Equal Weight from Overweight at Morgan Stanley... Midcoast Energy (MEP) downgraded to Neutral from Buy at UBS... Mobileye (MBLY) downgraded to Market Perform from Outperform at Raymond James... Myers Industries (MYE) downgraded to Neutral from Buy at CL King... Nationstar (NSM) downgraded to Underperform from Market Perform at Keefe Bruyette... PTC Therapeutics (PTCT) downgraded to Market Perform at Cowen... PetSmart (PETM) downgraded to Equal Weight from Overweight at Barclays... Qlik Technologies (QLIK) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Outperform at Exane BNP Paribas... Tekmira (TKMR) downgraded to Market Perform from Outperform at ... XL Group (XL) downgraded to Market Perform from Outperform at FBR Capital... Xoom (XOOM) downgraded to Underweight from Equal-Weight at Evercore.
06:27 EDTPANW, FTNT, PFPT, FEYEJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
05:49 EDTFTNTFortinet downgraded to Equal Weight from Overweight at Morgan Stanley
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