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Stock Market & Financial Investment News

News Breaks
March 3, 2014
06:45 EDTCUDA, FEYE, FFIV, QLYS, SYMC, IMPV, FTNT, CHKP, PFPT, PANWReport says nation not well-prepared for power grid cyberattack, NY Times says
Companies and the government are not well-prepared to cope with a cyberattack on the nation's power grid, a report by top energy security experts found, according to The New York Times. Companies are reluctant to share information with each other, and federal rules do not adequately incentivize companies to take the necessary steps to defend themselves, the report found, according to the newspaper. Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).
News For QLYS;PANW;FTNT;FFIV;PFPT;IMPV;FEYE;CHKP;SYMC;CUDA From The Last 14 Days
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February 1, 2016
15:20 EDTCUDABarracuda exploring potential sale, Bloomberg reports
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14:40 EDTCUDABarracuda calls active, said to be working with advisor to seek sale
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14:34 EDTCUDABarracuda up 8% after said to be working with Morgan Stanley to find buyer
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14:33 EDTCUDABarracuda working with advisor to seek sale, Bloomberg reports
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12:27 EDTSYMCOptions with increasing put volume
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10:08 EDTSYMCHigh option volume stocks
High option volume stocks: NOK HLT NCLH DF GALE VMW DPS SYY SYMC PGR
10:05 EDTFTNTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acadia (ACHC) initiated with an Overweight at KeyBanc... Altisource Residential (RESI) initiated with a Neutral at Nomura... Colony Starwood Homes (SFR) initiated with a Buy at Nomura... EyeGate (EYEG) initiated with a Buy at Rodman & Renshaw... Fortinet (FTNT) initiated with an Outperform at Northland... Halozyme (HALO) initiated with a Buy at Canaccord... Lendingtree (TREE) initiated with an Outperform at Northland... Lindblad Expeditions (LIND) initiated with an Outperform at Credit Suisse... Summit Therapeutics (SMMT) initiated with a Buy at Canaccord... VolitionRx (VNRX) initiated with a Buy at Rodman & Renshaw.
10:00 EDTPFPTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
08:17 EDTPFPTProofpoint should be bought on weakness, says RBC Capital
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07:30 EDTFTNTFortinet initiated with an Outperform at Northland
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05:42 EDTPFPTProofpoint upgraded to Outperform from In-Line at Imperial Capital
Imperial Capital analyst Michael Kim upgraded Proofpoint to Outperform citing the recent pullback in shares and share gains in the company's core protection business. Kim raised his price target for the stock to $68 from $65. Proofpoint closed Friday down 6%, or $3.47, to $50.36 following the company's Q4 results.
January 29, 2016
16:11 EDTSYMCSymantec on track to return over $4B to shareholders by March 2017
Symantec is on track to return more than $4B in capital to its shareholders by the end of March 2017. This capital return includes a $500M accelerated share repurchase completed in January 2016; $1.8B remaining at the end of Q3 from its previously announced share repurchase program; and the additional $2B of capital return that the board announced.
16:09 EDTSYMCSymantec receives $5.3B in connection with completion of Veritas sale
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10:56 EDTFEYE, CUDA, PANW, CHKP, FTNT, SYMC, PFPTIT security stocks rise after Fortinet meets expectations
The shares of a number of IT security companies are rising after one of the companies in the sector, Fortinet (FTNT), reported in-line fourth quarter results last night. JPMorgan and RBC Capital were upbeat on the company's outlook. WHAT'S NEW: Fortinet reported Q4 EPS of 18c, in line with analysts' consensus outlook. The company's revenue was also in-line with the consensus outlook, while its billings jumped 35% versus the same period a year earlier. Moreover, Fortinet's fiscal 2016 guidance also came in near consensus estimates. ANALYST REACTION: Fortinet's results show that it is gaining market share, especially overseas and among U.S. small and medium businesses, JPMorgan analyst Sterling Auty stated. Additionally, the company's margins look set to reach about 15% in fiscal 2016, up from 13% the previous year, and its free cash flow should jump 33% in fiscal 2016, the analyst predicted. He kept a $54 price target and Overweight rating on the shares, saying the quarter should bring a "welcomed lift" following the recent selloff in shares. Fortinet's guidance suggests that it will have more leverage than expected in fiscal 2016, but its outlook is also "somewhat conservative," RBC Capital analyst Dan Bergstrom wrote. Fortinet's stock is relatively cheap versus its peers and its historical norms, the analyst believes. However, he kept a $32 price target and Sector Perform rating on the shares. WHAT'S NOTABLE: Yesterday morning IT security company Check Point (CHKP) reported stronger than expected Q4 results and provided in-line fiscal 2016 EPS guidance, excluding certain items. Last night IT security company Proofpoint (PFPT) reported in-line Q4 results but provided lower than expected fiscal 2016 EPS guidance. PRICE ACTION: In late morning trading, Fortinet climbed 6% to $28. Other IT security companies also advanced, with Palo Alto (PANW) surging 7.5%, Barracuda (CUDA) gaining 2.5% to $10.60, FireEye (FEYE) rising 1.5% to $14, Check Point adding 1% to $77.70 and Symantec (SYMC) rising 1.2% to $129.75.
10:10 EDTFTNTOptions with decreasing implied volatility
Options with decreasing implied volatility: ETE INVN FTNT VMW CTXS NOW COH AMZN NWL NYRT
10:03 EDTIMPVHigh option volume stocks: GIMO CSOD NAVI ALGN IMPV LC INO FMC VMW RCII
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09:21 EDTFTNTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Gigamon (GIMO), up 17.7%... Fortinet (FTNT), up 10%... Flextronics (FLEX), up 10%... Skyworks (SWKS), up 5.7%... Seagate Technology (STX), up 4.9%.. Microsoft (MSFT), up 4.6%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 8.1% after CEO says Zika vaccine could enter human testing this year... J.C. Penney (JCP), up 2.1% after being upgraded to Neutral from Underperform at Credit Suisse... BRF S.A. (BRFS), up 3.1% after being upgraded to Buy from Hold at Deutsche Bank... Axiall (AXLL), up 83.4% after rejecting $20 per share acquisition proposal from Westlake Chemical (WLK)... Energous (WATT), up 12% after Bloomberg reported that Apple (AAPL) is working with partners in the U.S. and Asia to develop new wireless charging technology. DOWN AFTER EARNINGS: Amazon.com (AMZN), down 10.1%... Electronic Arts (EA), down 6.2%... AbbVie (ABBV), down 4%... American Airlines (AAL), down 1.3%. ALSO LOWER: Gilead Sciences (GILD), down 5.5% after CEO John Martin to assume role of executive chairman and COO John Milligan will be promoted to CEO.
08:37 EDTFTNTFortinet guidance likely conservative, says RBC Capital
After Fortinet reported in-line results, RBC Capital says they will probably be well-received, given sentiment towards the name. The firm says that the company's fiscal 2016 guidance is "likely somewhat conservative." However, it keeps a Sector Perform rating on the shares.
07:03 EDTPANW, PFPTProofpoint results suggest demand remains strong, says Piper Jaffray
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05:55 EDTFTNTFortinet Q4 results to bring 'welcomed lift' to shares, says JPMorgan
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