New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 24, 2014
07:02 EDTPANWPalo Alto reports Q2 EPS adjusted 10c, consensus 9c
Reports Q2 revenue $141.1M, consensus $135.63M
News For PANW From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 21, 2015
08:40 EDTPANWCheck Point price target raised to $100 from $85 at Needham
Subscribe for More Information
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
Subscribe for More Information
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.
April 13, 2015
06:47 EDTPANWPalo Alto, FireEye remain Piper's favorite security ideas
Subscribe for More Information
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 8, 2015
11:08 EDTPANWCybersecurity stocks in focus after White House security breach
Subscribe for More Information
09:36 EDTPANWSingtel acquires cybersecurity company Trustwave for $810M
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use