New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 16, 2014
13:06 EDTFTNT, PANW, PFPT, FEYEIT 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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
April 21, 2015
07:15 EDTFTNT, FEYE, PANWUBS to host a software tour
Software Tour at RSA Conference is being held on April 21-24.
07:06 EDTFEYERe/Code to hold a conference
Subscribe for More Information
06:55 EDTFTNTFortinet price target raised to $45 from $33 at Deutsche Bank
Subscribe for More Information
April 20, 2015
18:48 EDTFTNTOn The Fly: After Hours Movers
UP AFTER EARNINGS: Lam Research (LRCX), up 9.2%... Fortinet (FTNT), up 9%. ALSO HIGHER: Lumber Liquidators (LL), up 2% after being initiated with a Buy, $45 target at Cantor... Geron (GERN), up 2.2% after being initiated with an Outperform at Oppenheimer... Applied Materials (AMAT), up 1.6% after Lam Research reported quarterly results. DOWN AFTER EARNINGS: Sanmina (SANM), down 10.5%... IBM (IBM), down marginally... Rambus (RMBS), down 3.7%.
17:06 EDTFTNTFortinet up 7% following Q1 results, guidance
16:52 EDTFTNTFortinet sees FY15 adjusted EPS 51c-52c, consensus 50c
Subscribe for More Information
16:50 EDTFTNTFortinet sees Q2 adjusted EPS 8c-9c , consensus 11c
Sees Q2 revenue $224M-$228M, consensus $222.1M. Sees Q2 operating margin 9%-10%. Sees Q2 gross margin 70%-71%. Sees Q2 billings $263M-$268M. Guidance from slides presentation.
16:33 EDTFTNTFortinet spikes higher after results
Shares are up over 6.3% in the extended session to $36.84, a fresh 52-week high and life high. At that price support is at $35.86, the prior life high and 52-week high. Without established resistance a drift upward to the $38.50 area may be possible.
16:32 EDTPANWPalo Alto re-initiated with an Outperform at Imperial Capital
Subscribe for More Information
16:27 EDTFTNTFortinet reports Q1 adjusted EPS 8c, consensus 6c
Subscribe for More Information
15:37 EDTFTNTNotable companies reporting after market close
Subscribe for More Information
12:35 EDTFTNT, FEYE, PFPT, PANWCybersecurity stocks rally after Raytheon announces joint venture
The shares of cybersecurity companies are rising after Raytheon (RTN), a major defense contractor, announced that it was forming a cybersecuity joint venture with a company in the sector, Websense. Raytheon will acquire control of Websense as part of the deal. WHAT'S NEW: Raytheon announced that it had agreed to form a joint venture with Websense, which is owned by Vista Equity Partners. Under the deal, Websense will combine with Raytheon Cyber Products, a business unit of Raytheon's Intelligence, Information and Services segment. Raytheon will pay about $1.57B for an 80.3% stake in the joint venture. Additionally, Raytheon will pay $1.9B, net of cash acquired, to buy Websense. Of the $1.9B, $600M will be in the form of an intercompany loan to the joint venture. The combined company will be treated as a separate business segment of Raytheon, the defense contractor stated. John McCormack, the CEO of Websense, will be the CEO of the unit. The deal is expected to close next quarter. ANALYST REACTION: In a note to investors earlier today, Wells Fargo analyst Sam Pearlstein wrote that the deal will raise Raytheon's non-GAAP, 2015 adjusted earnings per share by about 6c. However, the transaction will lower Raytheon's EPS on a GAAP basis for 2015 by 48c, driven by amortization of intangibles, deferred revenue, and one-time costs, according to Pearlstein. The analyst kept an Outperform rating on Raytheon shares. WHAT'S NOTABLE: Cybersecurity company Check Point (CHKP) reported stronger than expected first quarter results today. Its Q2 guidance was roughly in-line with analysts' consensus estimates at the midpoints of the ranges given for earnings and revenue. Additionally, Check Point announced a partnership with another cybersecurity company, FireEye (FEYE). The companies said they would share threat intelligence to protect customers from modern advanced attacks. PRICE ACTION: In early afternoon trading,Check Point jumped 5.4% to $86.14, FireEye rose 3.8% to $42.39, Palo Alto (PANW) gained 2.4% to $146, Fortinet (FTNT) added 1.7% to $34.28, Proofpoint (PFPT) advanced 1.7% to $58, and Raytheon slid 0.3% to $107.40.
08:25 EDTFEYECheck Point announces new partnership with FireEye
Check Point (CHKP) and FireEye (FEYE) announced a partnership to share threat intelligence to protect customers from modern advanced attacks. As part of this cooperation, Check Point's ThreatCloud and Next Generation Threat Prevention solutions and the FireEye NX platform will share the latest threat intelligence in real-time, allowing customers to update firewall security policies dynamically based on the intelligence from both platforms.
April 19, 2015
16:51 EDTFEYEFireEye labs detected limited APT campaign
Subscribe for More Information
April 18, 2015
20:14 EDTFEYEFireEye to hold a technology briefing
Subscribe for More Information
April 17, 2015
15:08 EDTFTNTFortinet May volatility elevated into Q1 and outlook
Subscribe for More Information
April 13, 2015
16:21 EDTPFPTOn The Fly: Top stock stories for Monday
Subscribe for More Information
11:24 EDTFEYEStocks with call strike movement; GPRO FEYE
Subscribe for More Information
06:47 EDTFEYE, PANW, PFPTPalo Alto, FireEye remain Piper's favorite security ideas
Subscribe for More Information
06:21 EDTFEYEFireEye April volatility elevated into Q1 and outlook
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use