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Stock Market & Financial Investment News

News Breaks
March 7, 2014
16:34 EDTSWY, BIG, PANW, JNPR, FL, FEYE, PRGSOn The Fly: Closing Wrap
Stocks on Wall Street were mixed following a U.S. employment report for February that came in better than expected. Despite the economy adding more jobs that expected for February, the unemployment rate edged up to 6.7% from January's 6.6%. Despite continued unrest in Ukraine and mixed economic data, the averages closed the first week of the month with gains. ECONOMIC EVENTS: In the U.S., 175K non-farm jobs were added last month, beating the expected increase of 150K jobs, while the unemployment rate edged up to 6.7% from last month’s 6.6% rate. The trade balance report for January showed a deficit of $39.1B, versus the expected $38.5B deficit. January consumer credit was reported to rise $13.7B, slightly below expectations for growth of $14B. COMPANY NEWS: Grocery store owner Safeway (SWY) agreed to be acquired by Albertsons, owned by private equity firm Cerberus, for a total value estimated at $40 per Safeway share. Safeway shareholders will receive $32.50 per share in cash, will have the right to receive pro-rata distributions of proceeds from primarily non-core assets with an estimated value of $3.65 per share, and Safeway's shares of Blackhawk (HAWK), with a current value of $3.95 per Safeway share, will still be distributed. The deal, which had been roundly telegraphed in recent media reports, received a mixed reaction, with analysts at Deutsche Bank saying it views the offer as too low. Shares of Safeway closed the session down 87c, or 2.2%, to $38.60... Closeout retailer Big Lots (BIG) gained $6.72, or 22.97%, to $35.97 after the company reported fourth results, said the wind-down of its Canadian operations is on schedule, and approved a $125M share repurchase program. MAJOR MOVERS: Among the notable gainers was Palo Alto Networks (PANW), up $7.67, or 11.04%, to $77.12 after a judge declared a mistrial in the company's ongoing patent infringement lawsuit with Juniper Networks (JNPR). Shares of Juniper finished the session little changed. Also higher was Foot Locker (FL), up $3.76, or 8.80%, to $46.49 after the athletic shoe and apparel retailer reported earnings and sales that beat estimates and said its first quarter same-store sales are up low-double digits so far. Among the noteworthy losers was FireEye (FEYE), down $8.51, or 9.50%, to $81.04 after the internet security provider launched a 14M share offering of common stock, which was priced at $82.00 per share. Also lower was Progress Software (PRGS), down $2.87, or 11.31%, to $22.51 after cutting its first quarter profit and sales outlook last night. INDEXES: The Dow was up 30.83, or 0.19%, to 16,452.72, the S&P 500 was up 1.01, or 0.05%, to 1,878.04, the Nasdaq was down 15.90, or 0.37%, to 4,336.22.
News For SWY;BIG;PANW;JNPR;FL;FEYE;PRGS From The Last 14 Days
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September 26, 2014
10:23 EDTFLFoot Locker trades up on the heels of strong Nike earnings
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06:39 EDTPANW, FEYEMost connected devices have security flaw, NY Times says
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06:22 EDTFLNike updated FY15 outlook 'surprisingly bullish,' says Citigroup
Citigroup says Nike (NKE) reported "impressive" Q1 results with a "surprisingly bullish" update to FY15 guidance on global momentum and gross margin gains. Citi raised its price target for shares to $93 from $92 and reiterates a Buy rating on the name. The firm views the results as a positive read-through for Foot Locker (FL).
September 25, 2014
18:21 EDTPRGSOn The Fly: After Hours Movers
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16:18 EDTPRGSProgress Software reports Q3 EPS 39c vs.27c
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15:29 EDTPRGSNotable companies reporting after market close
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09:57 EDTBIGBig Lots management to meet with Piper Jaffray
Meeting to be held in Boston on October 1 hosted by Piper Jaffray.
September 23, 2014
09:28 EDTJNPRJuniper views raised to Positive from Neutral at OTR Global
07:47 EDTPANWPalo Alto has multiple drivers converging, says Morgan Stanley
Morgan Stanley said Palo Alto has multiple growth drivers in place that will drive free cash flow that include sustainable 30% billings growth, increasing sales efficiencies, and slowing capex and reduced litigation expenses. Shares are Overweight rated with a $115 price target.
September 19, 2014
12:00 EDTPRGSTIBCO slumps after Q3 earnings miss, weaker than expected Q4 outlook
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07:46 EDTFEYEFireEye well-positioned to increase share, says Wells Fargo
After viewing a webinar on FireEye's product initiatives, Wells Fargo thinks the initiatives will probably generate minimal revenue over the next 6-12 months, but leave the company well-positioned to take an increasing share of the total cyber security market. The firm keeps an Outperform rating on the shares.
07:23 EDTJNPRFCC to hold a roundtable
Open Internet Roundtable: Technological Aspects will consider the technical aspects of ensuring an Open Internet, including questions of scope, transparency, blocking, mobile networks, and reasonable network management and is being held at FCC Washington, D.C. offices on September 19 at 1:30 pm. Webcast Link
07:13 EDTFEYEFireEye price target raised to $40 from $36 at Piper Jaffray
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September 18, 2014
15:41 EDTFEYEFireEye lays out details of new 'FireEye as a Service' offering
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09:22 EDTFLBack to school season healthy for footwear, says Sterne Agee
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07:36 EDTFLFoot Locker management to meet with UBS
Meeting to be held in Dublin, Ireland on September 18 hosted by UBS.
September 17, 2014
15:12 EDTFEYEFireEye September volatility elevated into webinar to discuss new services
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11:02 EDTSWYOptions with decreasing implied volatility
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09:02 EDTFEYELilien Systems, FireEye announce partnership
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07:32 EDTFLFoot Locker management to meet with UBS
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