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Stock Market & Financial Investment News

News Breaks
May 9, 2014
12:01 EDTFEYE, FFIV, QLYS, CUDA, IMPV, FTNT, SYMC, CHKP, PFPT, PANWSymantec advances after profit beats expectations
Shares of IT security company Symantec (SYMC) are climbing after the company reported higher than expected profit for its fiscal fourth quarter and provided full-year profit guidance that also beat analysts' consensus estimate. WHAT'S NEW: Symantec reported fourth quarter earnings per share of 47c, compared with analysts' consensus estimate of 42c. The company's revenue came in slightly below expectations. Symantec's revenue fell 7% last quarter versus the same period a year earlier, but the company said it expects its revenue to resume increasing year-over-year in the second half of fiscal 2015. Moreover, Symantec provided fiscal 2015 EPS guidance of $1.84-$1.92, versus the consensus estimate of $1.83. Its fiscal 2015 revenue guidance was in-line with expectations. "Our fourth quarter results, led by better performance from our sales teams and cost reductions, demonstrate the underlying health of our business," said Symantec's interim CEO,Michael Brown. "There are substantial opportunities for us to improve our growth profile, maximize profitability and create value, and I'm confident we have the right team and plans in place to achieve our objectives," added Brown. The company is leading an active search for a permanent CEO, and has hired executive search firm Russell Reynolds to assist with the process, Brown reported. ANALYST REACTION: In a note to investors earlier today, research firm Jopel Fishbein wrote that Symantec is "showing signs of life." The company's billings trends improved, representing a good start for its turnaround efforts, Fishbein wrote. The analyst stated that he was "cautiously optimistic" about Symantec and continues to believe that the stock holds unlocked value. He kept an Outperform rating on the shares. OTHERS TO WATCH: Other publicly traded IT security companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), and Qualys (QLYS). PRICE ACTION: In late morning trading, Symantec jumped 3.6% to $20.86.
News For SYMC;QLYS;PANW;FTNT;FFIV;PFPT;IMPV;FEYE;CHKP;CUDA 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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16:27 EDTFTNTFortinet reports Q1 adjusted EPS 8c, consensus 6c
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15:37 EDTFTNTNotable companies reporting after market close
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14:44 EDTCHKPCheck Point price target raised to $96 from $91 at Jefferies
Jefferies increased its price target on Check Point after the company reported stronger than expected Q1 results. The firm thinks the results were solid, and it expects the company to continue to benefit from consolidation trends as customers reduce complexity and improve security. The firm predicts that the company's investments will yield returns this year and beyond, and it keeps a Buy rating on the shares.
14:11 EDTCHKPCheck Point price target raised to $97-$102 from $92-$97 at Wells Fargo
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12:35 EDTPANW, FEYE, CHKP, PFPT, FTNTCybersecurity 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.
10:03 EDTCHKPHigh option volume stocks
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10:00 EDTSYMCOn The Fly: Analyst Upgrade Summary
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09:18 EDTCHKPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Morgan Stanley (MS), up 2.1%... Cliffs Natural (CLF), up 1.3%... Check Point Software (CHKP), up 1.1%. ALSO HIGHER: Genetic Technologies (GENE), up 28.2% after additional health centers to offer BREVAGenplus... Hanwha Q Cells (HQCL), up 16.2% following solar module supply agreement with NextEra Energy (NEE)... Provectus (PVCT), up 6.7% after receiving notice of allowance for PV-10 combined with other drugs. DOWN AFTER EARNINGS: Royal Caribbean (RCL), down 6.1%... FARO (FARO), down 16.4%. ALSO LOWER: Yandex (YNDX), down after Barron's recommends that investors take some profits... Carnival (CCL), down 2% after Royal Caribbean reported quarterly results.
08:52 EDTCHKPCheck Point sees Q2 EPS 90c-99c, consensus 94c
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08:25 EDTFEYE, CHKPCheck 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.
05:49 EDTSYMCSymantec upgraded to Hold from Underperform at Jefferies
Jefferies upgraded Symantec to Hold citing a lack of negative catalysts and potential breakup scenarios following the company's analyst day. The firm raised its price target for shares to $21 from $20.
05:27 EDTCHKPCheck Point reports Q1 EPS 95c, consensus 91c
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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 17, 2015
15:31 EDTCHKPNotable companies reporting before Monday's open
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15:08 EDTFTNTFortinet May volatility elevated into Q1 and outlook
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14:19 EDTCHKPCheck Point May volatility elevated into Q1 and outlook
Check Point May call option implied volatility is at 26, July is at 21, October is at 19; compared to its 26-week average of 22 according to Track Data, suggesting larger near term price movement into the expected release of Q4 results on April 20.
13:31 EDTSYMCSymantec approached NetApp, EMC about potential Veritas sale, Bloomberg says
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13:19 EDTSYMCSymantec May volatility elevated on wide price movement
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