|May 29, 2014|
|11:07 EDT||JNPR, PANW||Analysts 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
|February 12, 2016|
|09:50 EDT||PANW||Palo Alto partner outlook moderating, says Cleveland Research|
Cleveland Research said channel partner checks suggests a moderating outlook for the next several quarters and less enthusiasm about potential upside. The firm's analyst said conversations are pointing to growth expectations in the 30%-40% range, versus previous feedback of 40%.
|09:43 EDT||PANW||Correction: OTR Global not cautious on Palo Alto Networks|
|05:02 EDT||JNPR||Stocks with implied volatility below IV index mean; FB JNPR |
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|February 11, 2016|
|11:29 EDT||JNPR||Options with increasing put volume |
Options with increasing put volume; CPB JNPR OMF DWA CAH MAIN BA FLO DVN T COF
|10:28 EDT||JNPR||High option volume stocks:|
High option volume stocks: MAIN FLO GOLD JNPR CAH MFLX BID AUY O AXLL
|February 10, 2016|
|10:35 EDT||PANW||FireEye, Palo Alto surge after upbeat analyst notes, Akamai results|
The shares of IT security companies Palo Alto Networks (PANW) and FireEye (FEYE) are rallying after Wells Fargo issued an upbeat note on Palo Alto and research firm BTIG upgraded FireEye. Additionally, Akamai (AKAM) reported that the revenue generated by its cloud security business surged nearly 50% year-over-year last quarter. FIREEYE UPGRADE: BTIG analyst Joel Fishbein, Jr. upgraded FireEye to Buy from Neutral, saying that the company will soon show better revenue visibility, report positive cash flow and implement tighter cost controls. Those attributes are what investors are looking for from the company, the analyst stated. FireEye can meet its guidance of generating positive free cash flow growth this year by achieving its billing guidance and maintaining the cost discipline and operating leverage it delivered last year, Fishbein predicted. Moreover, FireEye is shifting from a "growth at all costs" mentality" to a "cash generation with reasonable growth" approach, the analyst stated. He believes that the stock has reached a favorable entry point, and placed a $15 price target on the shares. POSITIVE ON PALO ALTO: After speaking with sources in the IT security sector, Wells Fargo believes that Palo Alto's existing customers are in the early stages of buying the company's newer products. Resellers indicated that the sales of Palo Alto's products were either at or above expectations and they said that its pipeline remains strong, Wells reported. Furthermore, the firm thinks the company will continue to gain share against other IT security vendors going forward, as large organizations look to buy more of their products from one vendor. Palo Alto's risk/reward ratio is "compelling" for longer term investors, Wells stated. The firm reiterated an Outperform rating on the stock. AKAMAI: Meanwhile, Akamai posted better than expected fourth quarter results last night, including the report that the revenue generated by its cloud security unit jumped 46% last quarter versus the same period a year earlier, to $73M. B. Riley analyst Sameet Sinha upgraded Akamai Technologies to Buy and raised his price target for the shares to $60 from $54 following the company's Q4 results, while Craig-Hallum analyst Ryan Notvest upgraded Akamai to Buy and increased his price target to $53 from $48. Notvest particularly pointed to its strong Performance and Security Solutions results, while noting the company has substantially reduced expectations from its two largest customers, has put in place a $1B buyback, and the CEO said he has intentions to buy $10M worth of Akamai shares in the open market. PRICE ACTION: In early trading, Palo Alto jumped 6.4% to $125.63, FireEye surged 8.5% to $13 and Akamai jumped 23.5% to $48.90.
|07:54 EDT||PANW||Palo Alto checks positive, says Wells Fargo|
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|07:17 EDT||JNPR||Goldman Sachs to hold a conference|
Technology & Internet Conference is being held in San Francisco on February 9-11 with webcasted company presentations to begin on February 10 at 11 am; not all company presentations may be webcasted. Webcast Link
|February 8, 2016|
|10:26 EDT||PANW||Options with increasing implied volatility|
Options with increasing implied volatility: WMB SPLK Z PANW CRM PAGP LGF SQQQ WDAY ETP
|February 5, 2016|
|14:06 EDT||PANW||Palo Alto volatility increases as shares trend to two-year low|
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|February 4, 2016|
|19:30 EDT||PANW||On The Fly: After Hours Movers |
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
|February 3, 2016|
|10:00 EDT||PANW||On The Fly: Analyst Initiation Summary|
Today's noteworthy initiations include: Capella Education (CPLA) initiated with an Outperform at Credit Suisse... DeVry (DV) initiated with an Outperform at Credit Suisse... Gilead (GILD) initiated with a Buy at Standpoint Research... Grand Canyon (LOPE) initiated with a Neutral at Credit Suisse... Hannon Armstrong (HASI) initiated with an Equal Weight at Morgan Stanley... Houghton Mifflin (HMHC) initiated with an Outperform at Credit Suisse... Mediaset (MDIUY) initiated with a Buy at Jefferies... Palo Alto (PANW) initiated with a Buy at Maxim... Splunk (SPLK) initiated with a Buy at Maxim... Strayer (STRA) initiated with a Neutral at Credit Suisse... Tableau (DATA) initiated with a Sell at Maxim... Tesla (TSLA) initiated with a Sell at Berenberg... WisdomTree (WETF) initiated with an Outperform at Northland... bluebird bio (BLUE) initiated with an Outperform at Leerink.
|08:59 EDT||PANW||Palo Alto initiated with a Buy at Maxim|
Maxim analyst Nehal Chokshi started Palto Alto Networks with a Buy rating and $214 price target.