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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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July 22, 2014
18:33 EDTJNPROn The Fly: After Hours Movers
UP AFTER EARNINGS: Broadcom (BRCM), consensus up 3% after reporting second quarter results... Intuitive Surgical (ISRG), up 10.4%... Manhattan Associates (MANH), up 3%... Robert Half International (RHI), up 3.9%... Hawaiian Holdings (HA), up 3.1%... Microsoft (MSFT), up just under 1%... FMC Technologies (FTI), up 1.1%. ALSO HIGHER: Ballard Power Systems (BLDP), up 2.7% following purchase order from New Flyer Industries... Unwired Planet (UPIP), up 2.4% after filing a lawsuit against Microsoft for breach of contract. NOTABLE: Puma Biotechnology (PBYI), up 193.8% after reporting positive top line results from Phase III PB272 trial. DOWN AFTER EARNINGS: Xilinx (XLNX), down 8.7%... Apple (AAPL), down after reporting third quarter results and fourth quarter guidance... Juniper Networks (JNPR), down 4.7%... ALSO LOWER: Farmland Partners (FPI), down 3.8% after filing to sell 3.72M shares of common stock.
16:11 EDTJNPRJuniper falls after results, first look
The stock is at $22.04 in the extended session, lower by 11% after earnings. At that price next support is at $20.84. Resistance is at $23.54.
16:09 EDTJNPRJuniper sees Q3 adjusted EPS 35c-40c, consensus 44c
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16:06 EDTJNPRJuniper reports preliminary Q2 EPS 40c, consensus 38c
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15:30 EDTJNPRNotable companies reporting after market close
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15:15 EDTJNPRJuniper July weekly 24 straddle priced for 4.9% move into Q2
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13:25 EDTPANW, JNPREarnings Preview: Juniper sahres rise ahead of Q2 earnings report
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July 20, 2014
12:53 EDTJNPRJuniper shares could rise over 30%, Barron's says
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July 17, 2014
07:21 EDTPANWPalo Alto price target raised to $105 from $90 at Pacific Crest
Pacific Crest increased its price target on Palo Alto as the firm touts what it sees as the company's strong fundamentals, fastest ramping profitability in enterprise IT and emerging opportunities. The firm keeps an Outperform rating on the shares.
July 16, 2014
13:06 EDTPANWIT 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.
10:00 EDTPANWOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
05:52 EDTPANWPalo Alto assumed with a Conviction Buy at Goldman
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July 15, 2014
08:48 EDTPANWPalo Alto outlook has improved, says JMP Securities
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July 8, 2014
08:13 EDTPANWPalo Alto management to meet with UBS
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