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Stock Market & Financial Investment News

News Breaks
May 29, 2014
11:07 EDTPANW, JNPRAnalysts upbeat on Palo Alto after Juniper settlement
Palo Alto (PANW) is surging and Juniper (JNPR) shares are rising as well after the companies announced last night that they had settled their patent litigation. In notes to investors earlier today, a number of firms wrote that the deal was a significant positive development for Palo Alto. WHAT'S NEW: Palo Alto, which develops IT security products, agreed to pay Juniper $175M, including $75M in cash, approximately $70M in shares of its common stock and a warrant to purchase approximately $30M more shares. The companies agreed to dismiss their lawsuits, license the patents over which they had sued each other, and refrain from suing each other over patents for eight years. ANALYST REACTION: From Palo Alto's perspective, the settlement was much more positive than expected, wrote Detsuche Bank analyst Karl Keirstead. Major investors had expected the settlement to consist of a $500M payment by Palo Alto and 2%-3% royalty payments, he estimated. Palo Alto's outlook is now significantly less risky, added the analyst, who raised his price target on the stock to $95 from $90 and kept a Buy rating on the shares. Meanwhile, Oppenheimer analyst Shaul Eyal upgraded Palo Alto to Outperform from Market Perform. Like Keirstead, Eyal believes that the deal significantly reduced the risk facing Palo Alto. Following the agreement, investors will focus on the company's solid fundamentals, added the analyst, who introduced a $90 price target on the shares. WHAT'S NOTABLE: Also last night, Palo Alto reported stronger than expected third quarter results and provided generally in-line fourth quarter guidance. Calling the results and guidance solid, Eyal said that they support continued healthy double-digit growth rates by the company. PRICE ACTION: In mid-morning trading, Palo Alto climbed 8% to $75, while Juniper added 1.5% to $25.60.
News For PANW;JNPR From The Last 14 Days
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April 24, 2015
11:40 EDTJNPRJuniper soars to new 52-week high after preliminary Q1 results beat expectations
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10:11 EDTJNPRHigh option volume stocks
High option volume stocks: AERI UEC NUAN DSW CHU SVU PII ACTG GIMO JNPR
10:00 EDTJNPROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AT&T (T) upgraded to Outperform from Neutral at Macquarie... Alaska Air (ALK) upgraded to Buy from Neutral at Buckingham... Amazon.com (AMZN) upgraded at Raymond James... American Electric (AEP) upgraded to Buy from Hold at Deutsche Bank... Broadridge (BR) upgraded to Buy from Hold at Evercore ISI... Cablevision (CVC) upgraded to Hold from Sell at Brean Capital... Cisco (CSCO) upgraded to Conviction Buy from Buy at Goldman... Core Laboratories (CLB) upgraded to Outperform from Sector Perform at Iberia... Crown Castle (CCI) upgraded to Outperform from Market Perform at Raymond James... Encore Wire (WIRE) upgraded to Buy from Neutral at Sidoti... Gigamon (GIMO) upgraded to Buy from Neutral at DA Davidson... Juniper (JNPR) upgraded on improved outlook at RBC Capital... KPN (KKPNY) upgraded to Buy from Neutral at Goldman... Knight Transportation (KNX) upgraded to Outperform from Market Perform at Avondale... Mattel (MAT) upgraded to Buy from Neutral at Goldman... Microsoft (MSFT) upgraded to Buy from Neutral at Nomura... Premiere Global (PGI) upgraded to Outperform from Market Perform at Raymond James... Quintiles (Q) upgraded to Buy from Hold at Jefferies... Southwestern Energy (SWN) upgraded to Market Perform at Raymond James... TE Connectivity (TEL) upgraded on positive catalysts at SunTrust... Target (TGT) upgraded to Buy from Neutral at BofA/Merrill... TriState Capital (TSC) upgraded to Overweight from Equal Weight at Stephens... United Continental (UAL) upgraded to Buy from Hold at Evercore ISI... Vipshop (VIPS) upgraded to Buy from Hold at HSBC... Vocera (VCRA) upgraded to Buy from Hold at Craig-Hallum.
09:46 EDTJNPRJuniper breaks out after stronger earnings
Shares hit a fresh 52-week high at $26.09 and have settled back fractionally to $25.80. Resistance above the high of the day is at $26.88 which was a previous pivot high. Support is at $25.43.
09:20 EDTJNPROn The Fly: Pre-market Movers
UP AFTER EARNINGS: eHealth (EHTH), up 24.7%... Starbucks (SBUX), up 4.2%... Microsoft (MSFT), up 5.2%... Google (GOOG, GOOGL), up 3.2% and up 3.7%, respectively... Amazon (AMZN), up 12% after reporting quarterly results and announcing shopping app for Apple Watch... Gigamon (GIMO), up 16.5%... Juniper Networks (JNPR), up 6.6%. ALSO HIGHER: Molycorp (MCP), up 10.2% following a Bloomberg report that China's export tax decision may boost rare earth demand... Mattel (MAT), up 4.4% after being upgraded to Buy from Neutral at Goldman... Innocoll (INNL), up 13.1% after 3.3M share Secondary priced at $9.00... Cytosorbents (CTSO), up 9.7% after CEO comments on CytoSorb in letter to shareholders. DOWN AFTER EARNINGS: Biogen (BIIB), down 4.7%... Altera (ALTR), down 1.7%... Pandora (P), down 4%... ResMed (RMD), down 8.7%... Xerox (XRX), down 4.7%... HomeAway (AWAY), down 3.6% after reporting quarterly results and departure of officers. ALSO LOWER: Ubiquiti (UBNT), down 14.4% following CFO resignation and preliminary third quarter results... 3D Systems (DDD), down 10.4% after reporting preliminary first quarter results... StemCells (STEM), down 23.2% after filing to sell common stock... Aerie Pharmaceuticals (AERI), down 54.7% after Rhopressa Phase 3 trial did not meet primary endpoint.
08:59 EDTJNPRJuniper price target raised to $31-$33 from $27-$29 at Wells Fargo
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07:29 EDTJNPRJuniper upgraded on improved outlook at RBC Capital
As noted earlier, RBC Capital upgraded Juniper to Outperform from Sector Perform. The firm believes that the period of negative earnings revisions is behind the company, while its revenue is stabilizing and there are early signs of improving telecom spending. It adds that it expects routing switching and security to begin contributing to the company's growth in 2016. Target $29.
06:27 EDTJNPRJuniper upgraded to Outperform from Sector Perform at RBC Capital
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April 23, 2015
19:16 EDTJNPROn The Fly: After Hours Movers
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16:21 EDTJNPRJuniper expects to return to higher revenue in 2H15
The company continues to see the long-term demand drivers as healthy and is confident in its innovation pipeline. Juniper expects to return to its historical pattern of higher revenue in the second half of 2015 versus the first half of the year.
16:21 EDTJNPRJuniper sees Q2 adjusted EPS 38c-42c, consensus 38c
Sees Q2 revenue $1.09B-$1.12B, consensus $1.09B. Q2 non-GAAP gross margin will be approximately 64%, plus or minus 0.5%. Non-GAAP operating expenses will be $475M, plus or minus $5M.
16:19 EDTJNPRJuniper reports preliminary Q1 adjusted EPS 32c, consensus 31c
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15:00 EDTJNPRJuniper April weekly 24 straddle priced for 5.5% movement into Q1
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April 22, 2015
07:12 EDTPANWStephens to hold company meetings at conference
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April 21, 2015
12:54 EDTJNPRJuniper April weekly volatility elevated into Q1 and outlook
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10:20 EDTJNPRWells thinks carrier equipment vendors factored in weak capex
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08:40 EDTPANWCheck Point price target raised to $100 from $85 at Needham
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07:15 EDTPANWUBS to host a software tour
Software Tour at RSA Conference is being held on April 21-24.
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.
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