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Stock Market & Financial Investment News

News Breaks
February 21, 2014
05:55 EDTPANW, PANW, PANW, GTAT, GTAT, GTAT, ECYT, ECYT, ECYT, ROG, ROG, ROG, TREX, TREX, TREX, EE, EE, EENotable companies reporting before Monday's open
Notable companies reporting before Monday's open, with earnings consensus, include Palo Alto Networks (PANW), consensus 9c; GT Advanced (GTAT), consensus (35c); Endocyte (ECYT), consensus (14c); Rogers Corporation (ROG), consensus 76c; Trex Co. (TREX), consensus 7c; El Paso Electric (EE), consensus 12c.
News For PANW;GTAT;ECYT;ROG;TREX;EE From The Last 14 Days
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April 20, 2015
16:32 EDTPANWPalo Alto re-initiated with an Outperform at Imperial Capital
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12:35 EDTPANWCybersecurity 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.
07:20 EDTECYTAmerican Association for Cancer Research to hold annual meeting
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April 15, 2015
10:00 EDTTREXOn The Fly: Analyst Initiation Summary
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06:16 EDTTREXTrex Company initiated with a Neutral at Wedbush
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April 13, 2015
06:47 EDTPANWPalo Alto, FireEye remain Piper's favorite security ideas
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April 12, 2015
18:11 EDTPANWEx-hacker says many capable of launching Sony-style cyber attack, CNET says
Ninety percent of companies are vulnerable to a Sony (SNE)-like cyber attack security experts tell "60 Minutes," CNET says. Companies in the cyber security space include Barracuda (CUDA), FireEye (FEYE), Check Point (CHKP), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Qualys (QLYS), Symantec (SYMC) and Proofpoint (PFPT). Reference Link
April 10, 2015
10:00 EDTTREXOn The Fly: Analyst Downgrade Summary
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06:04 EDTTREXTrex Company downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Trex to Neutral due to valuation.
April 8, 2015
11:08 EDTPANWCybersecurity stocks in focus after White House security breach
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09:36 EDTPANWSingtel acquires cybersecurity company Trustwave for $810M
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