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Stock Market & Financial Investment News

News Breaks
March 7, 2014
16:34 EDTPRGS, JNPR, SWY, FEYE, PANW, FL, BIGOn 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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April 20, 2015
16:32 EDTPANWPalo Alto re-initiated with an Outperform at Imperial Capital
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15:16 EDTSWYGreenlight starts new GM long position, rolls Lorillard short bet to Reynolds
David Einhorn's Greenlight Capital hedge fund said in its latest quarterly letter to investors that it had established new long positions in General Motors (GM), Chicago Bridge & Iron (CBI) and AerCap Holdings (AER) last quarter. WHAT'S NEW: Greenlight believes GM should benefit from low gas prices, low raw material costs, and its decision to launch share buybacks, Greenlight stated. GM has an excellent chance of beating 2015 EPS expectations, added the firm. Einhorn's group said they found the valuation of Chicago Bridge and Iron, an engineering and construction company with significant exposure to energy, attractive following the stock's decline. Although energy prices may stay low for some time, the company has a significant backlog that should support its earnings for several years, Greenlight stated. Additionally, the market is overestimating how much of the cost overruns for two nuclear energy projects with be shouldered by the company, Greenlight contended. AerCap, the largest publicly traded aircraft leasing company, bought AIG's (AIG) aircraft leasing business last year at a bargain price, Greenlight stated. The combined business will benefit from AerCap's low tax rate, as well as efficiencies, the hedge fund believes. WHAT'S NOTABLE: Greenlight exited its short position in Lorillard (LO). Greenlight noted that it has rolled its short bet on Lorillard into a fresh position in Reynolds American (RAI), since it still believes that the FDA is gearing up to do "something major" in terms of regulation of menthol cigarettes, but is moving "slowly and deliberately" because it anticipates an extremely aggressive industry response. The firm also exited two other short positions because the companies agreed to takeovers: Safeway (SWY) and Freescale Semiconductor (FSL), which has agreed to sell itself to NXP Semicondictors (NXPI).
12:35 EDTPANW, FEYECybersecurity 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.
08:25 EDTFEYECheck Point announces new partnership with FireEye
Check Point (CHKP) and FireEye (FEYE) announced a partnership to share threat intelligence to protect customers from modern advanced attacks. As part of this cooperation, Check Point's ThreatCloud and Next Generation Threat Prevention solutions and the FireEye NX platform will share the latest threat intelligence in real-time, allowing customers to update firewall security policies dynamically based on the intelligence from both platforms.
April 19, 2015
16:51 EDTFEYEFireEye labs detected limited APT campaign
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April 18, 2015
20:14 EDTFEYEFireEye to hold a technology briefing
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April 16, 2015
11:22 EDTJNPRJuniper April weekly volatility elevated into Q1 and outlook
Juniper April weekly call option implied volatility is at 49, May is at 35, July is at 25, October is at 24; compared to its 26-week average of 28 according to Track Data, suggesting large near term price movement into the expected release of Q1 of April 23.
April 15, 2015
07:46 EDTJNPREricsson, Juniper in focus for deals after Nokia-Alcatel tie-up, Bloomberg says
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April 14, 2015
10:16 EDTBIGHigh option volume stocks
High option volume stocks: NSAM ALU CJES BIG CMRX ERIC NTAP TMO KN CIG
April 13, 2015
14:18 EDTSWYTarget names Anne Dament as SVP, Merchandising
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11:24 EDTFEYEStocks with call strike movement; GPRO FEYE
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06:47 EDTFEYE, PANWPalo Alto, FireEye remain Piper's favorite security ideas
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06:21 EDTFEYEFireEye April volatility elevated into Q1 and outlook
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April 12, 2015
18:11 EDTFEYE, PANWEx-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
12:48 EDTFEYEFireEye executive Kevin Mandia to appear on 60 Minutes broadcast
In a blog post from its website, FireEye said: "A little over four months ago, more than 18M viewers watched the 60 Minutes segment 'What Happens When You Swipe Your Credit Card,' in which FireEye was featured prominently. It was the most watched 60 Minutes broadcast in two years. Earlier this year, this legendary TV broadcast magazine was back for more, again turning to FireEye for our insights on the evolving threat landscape.Correspondent Steve Kroft and his producers spent a day on the FireEye campus and hours interviewing FireEye President Kevin Mandia for a segment that will appear on the 60 Minutes broadcast this Sunday, April 12." Reference Link
April 9, 2015
09:18 EDTFLBofA/Merrill retail analysts hold an analyst/industry conference call
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April 8, 2015
11:08 EDTFEYE, PANWCybersecurity stocks in focus after White House security breach
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09:36 EDTPANW, FEYESingtel acquires cybersecurity company Trustwave for $810M
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April 6, 2015
11:30 EDTFEYEOptions with increasing implied volatility
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06:07 EDTJNPRSpherix issues update on several matters
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