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Stock Market & Financial Investment News

News Breaks
May 14, 2014
12:55 EDTPFPT, PFPT, PFPTProofpoint to host an analyst and ivnestor day
Analyst and Investor Day to be held in New York on May 20 at 1 pm. Webcast Link
News For PFPT From The Last 14 Days
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April 22, 2015
13:11 EDTPFPTProofpoint reiterated as an Outperform at Pacific Crest
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07:12 EDTPFPTStephens to hold company meetings at conference
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April 21, 2015
19:06 EDTPFPTOn The Fly: After Hours Movers
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16:21 EDTPFPTProofpoint sees FY15 EPS (40c)-(37c), consensus (34c)
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16:19 EDTPFPTProofpoint sees Q2 EPS (10c)-(9c), consensus (9c)
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16:17 EDTPFPTProofpoint reports Q1 EPS (9c), consensus (8c)
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April 20, 2015
12:35 EDTPFPTCybersecurity 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
16:21 EDTPFPTOn The Fly: Top stock stories for Monday
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06:47 EDTPFPTPalo Alto, FireEye remain Piper's favorite security ideas
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