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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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November 19, 2014
09:01 EDTPANWBig data for security could reach $4B-$5B, says FBR Capital
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07:40 EDTJNPRUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 19 at 10:45 am; not all company presentations may be webcasted.Webcast Link
November 18, 2014
10:15 EDTPANWPalo Alto price target raised to $120 from $110 at Imperial Capital
Imperial Capital raised its price target for Palo Alto Networks to $120 ahead of the company's Q1 results and keeps an Outperform rating on the stock. The firm says Palo is "emerging as a dominant player in security."
07:21 EDTPANWPalo Alto price target raised to $125 from $105 at Stephens
Stephens said it expects Palo Alto's Q1 results to beat consensus estimates, citing the firm's positive channel checks. The firm, which believes Palo Alto is continuing to take market share, raised its price target on the stock to $125 from $105 and maintains its Overweight rating on the shares.
November 17, 2014
06:48 EDTPANWState Department hacked, NY Times reports
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November 16, 2014
19:34 EDTPANWFinancial services firms plan $2B increase in cybersecurity spending, WSJ says
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November 13, 2014
11:37 EDTJNPRJuniper says 'customer' noted in CEO change in good standing
On November 10, the company announced that Rami Rahim had been named CEO after Shaygan Kheradpir resigned as CEO and director of the company. The company said his resignation followed a review by the board of his leadership and his conduct in connection with a particular negotiation with a customer.
11:27 EDTJNPRJuniper cites significant share count reduction
11:23 EDTJNPRJuniper sees Q4 tracking in line with previous expectations
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November 12, 2014
11:32 EDTJNPREZchip believes growth from ZTE will resume in the coming quarters
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November 11, 2014
11:02 EDTJNPRJuniper falls after CEO change but Nomura lauds selection with upgrade
Shares of Juniper (JNPR), which provides network infrastructure products, are sinking after the company abruptly announced last night that it had chosen a new CEO. However, several analysts were upbeat on the company's decision for its new CEO. WHAT'S NEW: Juniper last night announced that its CEO, Shaygan Kheradpir, had resigned, effective immediately. The company said the CEO's resignation came in the wake of the board's review of his leadership and of his conduct during talks with a customer. Named as Kheradpir's replacement, effective immediately, was Rami Rahim, who had been serving as the executive VP and general manager of Juniper's Development and Innovation division. ANALYST REACTION: Nomura analyst Stuart Jeffrey reacted to the news by upgrading his rating on Juniper to Buy from Neutral. Jeffrey wrote that he had previously been worried that the risk facing the company was increasing, and had little confidence that its leadership team could meet its long-term targets. With Rahim at the helm, however, the company has a better chance of generating revenue growth, Jeffrey contended. Unlike his predecessor, Rahim is a Juniper veteran, has demonstrated strong expertise in the company's business during numerous presentations to investors, and has been instrumental in developing products, according to Jeffrey. The analyst raised his price target on the stock to $25 from $19.50. Janney Capital also said the CEO transition at Juniper was unexpected, but that Rami Rahim should have a fairly smooth transition since he has been a big part of creating and implementing the strategy to which the company affirmed its commitment. Janney maintained its Buy rating and $28 fair value estimate on shares of Juniper. Wells Fargo was fairly upbeat on the company's decision. Although Juniper's second CEO change in less than a year is a negative headline, Rahim is a strong choice, as he is highly respected within the organization and has played an integral role in developing the company's current strategy, according to the firm. Moreover, Rahim maintains close relationships with many of Juniper top customers, Wells Fargo reported. As a result, the change will be less disruptive than feared, according to Wells, which noted that Juniper said there would not be any changes in its strategy going forward. The firm kept an Outperform rating on the stock. PRICE ACTION: In mid-morning trading, Juniper fell 4.3% to $20.57.
10:25 EDTJNPRJuniper fall, levels to watch
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10:00 EDTPANWOn The Fly: Analyst Initiation Summary
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10:00 EDTJNPROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcentra Capital (ABDC) upgraded to Outperform from Market Perform at Keefe Bruyette... Ambac Financial (AMBC) upgraded to Neutral from Sell at MKM Partners... Banco Bilbao (BBVA) upgraded to Buy from Reduce at Nomura... Darden (DRI) upgraded at KeyBanc... ICU Medical (ICUI) upgraded to Overweight from Neutral at Piper Jaffray... IMAX (IMAX) upgraded to Buy from Neutral at Goldman... Juniper (JNPR) upgraded to Buy from Neutral at Nomura... Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley... Midcoast Energy (MEP) upgraded to Outperform from Neutral at Credit Suisse... Midstates Petroleum (MPO) upgraded to Outperform from Market Perform at Northland... Monroe Capital (MRCC) upgraded to Outperform from Neutral at RW Baird... NuVasive (NUVA) upgraded to Outperform from Market Perform at Cowen... ONEOK Partners (OKS) upgraded to Outperform from Neutral at Credit Suisse... ORBCOMM (ORBC) upgraded to Overweight from Equal Weight at First Analysis... Pattern Energy (PEGI) upgraded to Outperform from Neutral at Macquarie... Targa Resources Partners (NGLS) upgraded to Outperform from Neutral at Credit Suisse... Time Warner (TWX) upgraded to Conviction Buy from Neutral at Goldman... Tremor Video (TRMR) upgraded to Buy from Hold at Jefferies... Western Gas Partners (WES) upgraded to Outperform from Neutral at Credit Suisse... Yamana Gold (AUY) upgraded to Overweight from Neutral at HSBC... Zynga (ZNGA) upgraded to Buy from Hold at Jefferies.
08:28 EDTJNPRJuniper CEO transition should be smooth, says Janney Capital
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08:18 EDTJNPRJuniper CEO transition likely to create little disruption, says Oppenheimer
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07:49 EDTJNPRJuniper new CEO a strong choice, says Wells Fargo
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07:19 EDTPANWBarracuda, Imperva, Palo Alto should be bought, says Pacific Crest
Pacific Crest recommends buying Barracuda (CUDA), Imperva (IMPV), and Palo Alto (PANW), as the firm expects IT security to continue growing strongly. The firm thinks the companies named have compelling margins and free cash flow.
06:28 EDTJNPRJuniper upgraded to Buy from Neutral at Nomura
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06:10 EDTPANWPalo Alto initiated with an Outperform at Macquarie
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