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Stock Market & Financial Investment News

News Breaks
March 7, 2014
16:34 EDTFEYE, PANW, FL, BIG, PRGS, JNPR, SWYOn 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 monthís 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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May 20, 2015
17:48 EDTFLFoot Locker appoints Nicholas DiPaolo as non-executive chairman
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15:55 EDTPANW, FEYECareFirst BlueCross BlueShield confirms cyberattack
CareFirst BlueCross BlueShield has confirmed that cyberattackers gained limited, unauthorized access to a single CareFirst database. This was discovered as a part of the companyís ongoing Information Technology security efforts in the wake of recent cyberattacks on health insurers. CareFirst engaged Mandiant, a unit of FireEye (FEYE), to conduct an end-to-end examination of its IT environment. The review determined that in June 2014 cyberattackers gained access to a single database in which CareFirst stores data that members and other individuals enter to access CareFirstís websites and online services. Approximately 1.1M current and former CareFirst members and individuals who do business with CareFirst online who registered to use CareFirstís websites prior to June 20, 2014 are affected by this event. All affected members will receive a letter from CareFirst offering two free years of credit monitoring and identity theft protection. Mandiant completed its review and found no indication of any other prior or subsequent attack or evidence that other personal information was accessed. Other publicly traded companies in the cybersecurity space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).
10:00 EDTPANW, FEYEOn The Fly: Analyst Initiation Summary
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08:42 EDTFLGoldman says to buy Deckers Outdoor, sell Foot Locker
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08:41 EDTFEYE, PANWCisco CFO sees potential for acquistions in security
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07:36 EDTFEYEJPMorgan to hold a conference
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06:51 EDTFEYEFireEye initiated with a Buy at Evercore ISI
Target $50.
06:51 EDTPANWPalo Alto initiated with a Hold at Evercore ISI
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May 18, 2015
09:06 EDTFEYEFireEye announces strategic alliance with ACE Group
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09:01 EDTFEYEMarsh, FireEye announce collaboration to offer cybersecurity readiness service
Marsh (MMC) and FireEye (FEYE) announced a collaboration to offer clients Marsh Cyber OASIS. This service is designed to assists clients by providing an objective evaluation of their organizationís ability to detect and respond to cyber-attacks, and the strength of their technical infrastructure.
08:48 EDTFLUBS sees multiple sources of upside for Foot Locker
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May 14, 2015
14:01 EDTFEYEFireEye currently unwilling to consider sale, Re/code reports
After Cisco (CEO) John Chambers said last night on the company Q3 conference call that he "wouldn't bet on" the rumor that his company was targeting an acquisition of FireEye (FEYE), Re/code's Arik Hesseldahl added that FireEye is not for sale in any case. The security company's management would not be willing to entertain takeover offers before it reaches $1B in annual revenue, sources familiar with the matter told Hesseldahl. Reference Link
08:52 EDTPANWPalo Alto Q3 checks positive, says Stephens
Stephens said its checks have come back positive during Palo Alto's Q3 have been positive, leading the firm to expect the company's results to top consensus expectations. Stephens keeps its Overweight rating and $170 price target on Palo Alto shares.
08:21 EDTPANW, FEYEFinjan says patent suits ongoing with numerous cybersecurity companies
Finjan (FNJN) said it has an active Markman Hearing schedule with two Markman Hearings already concluded in favor of the company and two additional Markman Hearings to be held in Q2. The company has a two-week trial against Blue Coat set to commence on July 20. Finjan has patent infringement lawsuits against FireEye (FEYE), BlueCoat, Proofpoint (PFPT), Sophos, Symantec (SYMC), and Palo Alto Networks (PANW) relating to, collectively, more than 20 patents in the Finjan portfolio. Subsequent to the quarter end, Finjan entered into a negotiated license agreement with F-Secure Corporation, a company incorporated in Finland. The agreement provides for F-Secure to pay Finjan the sum of $1M in cash, to be paid in two installments, consisting of $700,000 which was received on April 22 and $300,000 on or before March 31, 2016. The agreement also provides for the assignment by F-Secure to Finjan of two patents, U.S. Patent Nos. 8,474,048 and 7,749,991.
May 13, 2015
18:04 EDTFEYECisco CEO says don't bet on talk of FireEye acquisition
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10:32 EDTFEYEFireEye calls active on renewed takeover chatter
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10:20 EDTFEYERumor: FireEye moves up on renewed takeover chatter
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May 12, 2015
10:01 EDTJNPROn The Fly: Analyst Upgrade Summary
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07:24 EDTJNPRJuniper upgraded to Buy on new product cycles at BofA/Merrill
As previously reported, BofA/Merrill upgraded Juniper to Buy from Neutral. The firm expects Juniper's new products and sequential growth in North American carrier spending to drive growth in core business lines. BofA/Merrill said Juniper's new products address recent weaknesses in security, switching, and routing and expects growth and operating margins to begin to stabilize. Price target raised to $34 from $27.
06:19 EDTJNPRJuniper upgraded to Buy from Neutral at BofA/Merrill
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