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May 28, 2014
15:16 EDTPLKI, PANW, ENS, UHAL, CPRTNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include AMERCO (UHAL), consensus $1.69; Palo Alto Networks (PANW), consensus 10c; Copart (CPRT), consensus 48c; EnerSys (ENS), consensus $1.05; Popeyes (PLKI), consensus 45c.
News For UHAL;PANW;CPRT;ENS;PLKI From The Last 14 Days
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October 6, 2015
16:57 EDTENSOn The Fly: Top stock stories for Tuesday
Stocks began the session modestly lower on the heels of yesterday's significant gains, which marked the year's first five-day winning streak for the S&P. Somewhat paring their opening losses today, the Dow and S&P were helped by gains from Alcoa (AA) and General Electric (GE), though the indexes remained mixed as they limped into the close. ECONOMIC EVENTS: The U.S. trade deficit expanded 15.6% to $48.3B in August, coming roughly in line with analyst expectations for $48.5B. On a region-specific basis, the trade gap with China spiked to $35B from a previous $31.6B, while the EU balance decreased to $13.8B from $15.2B. COMPANY NEWS: Despite cutting its guidance for the second time in less than four months, DuPont (DD) rose 7.70% to $55.23 after announcing that chairwoman and CEO Ellen Kullman would be retiring from the company, spurring investor hopes for an accelerated pace of change at the industrial giant. The news prompted a number of analysts to weigh in, with Deutsche Bank saying the changeover is "highly likely" to lead to further breakup of the company under interim Chief Edward Breen, who broke up Tyco (TYC) twice when he ran the company. MAJOR MOVERS: Among the notable gainers was PMC-Sierra (PMCS), which rose $2.55, or 33.16%, to $10.24 after agreeing to be acquired by Skyworks Solutions (SWKS), whose shares slid 1.42% following the news. Also higher was EnerSys (ENS), which gained $4.98, or 8.46%, to $63.86 after the Wall Street Journal reported that Johnson Controls (JCI) is in early talks to buy the battery maker. Additionally, Arista Networks (ANET) jumped 5.43% after the U.S. Patent and Trademark agreed to review two Cisco (CSCO) patents, potentially signaling a win for Arista in its legal dispute with the networking giant. Among the noteworthy losers was Exact Sciences (EXAS), which crashed $8.55, or 46.14%, to $9.98 after regulators issued preliminary guidelines identifying the company's main product, the Cologuard colon cancer test, as "an alternative screening test" to be used in "select clinical circumstances." Also lower was Tesla (TSLA), which fell $4.69, or 1.91%, to $241.46 after after Morgan Stanley analysts lowered sales forecasts for the company's recently-launched Model X. INDEXES: The Dow gained 13.76, or 0.08%, to 16,790.19, the Nasdaq declined 32.90, or 0.69%, to 4,748.36, and the S&P 500 dipped 7.13, or 0.36%, to 1,979.92.
15:24 EDTENSJohnson Controls in early talks to buy EnerSys, WSJ says
Johnson Controls (JCI) is in early talks to buy battery maker EnerSys (ENS), as the conglomerate looks to spur profitability, says the Wall Street Journal, citing sources. Reference Link
14:50 EDTENSJohnson Controls in early talks to buy EnerSys, Dow Jones says
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13:26 EDTPANWRadware plunges after negative Q3 pre-announcement
Shares of cybersecurity and application delivery solutions company Radware (RDWR) are plunging after the company announced preliminary third quarter results that were below previous guidance. WHAT'S NEW: On Monday evening, Radware announced preliminary adjusted earnings per share of 10c, well below its guidance of 23c-24c and analysts' consensus estimates of 24c. Radware also reported preliminary Q3 revenue of $48M, below its prior view of $57M-$59M and analysts' consensus estimates of $57.95M. WHAT'S NOTABLE. On the company's conference call discussing the preliminary results, the company noted that the mix between supporting and subscription sales to product sales was weighted much heavier than usual towards subscription and service contracts. As these sales are recognized over the life of the contract, the company recognized revenue of only $48M for the quarter. The weakness in the quarter came primarily from the U.S. carrier and service provider markets, said Roy Zisapel, the company's chief executive officer. The company noted that several large deals that were expected to be booked at the end of the quarter did not materialize. The company subsequently booked one of those deals and expects to book many of the remaining deals. On the call, the company said it continues to face weakness in China and FX headwinds in Brazil and Russia that impacted revenue. ANALYST TAKE: In a note to investors this morning, Oppenheimer analyst Ittai Kidron downgraded shares of Radware to Perform from Outperform, removing its $23 price target and cutting estimates for 2015 and 2016. The analyst, who put the note out before the conference call, said it suspects "the miss is tied to execution issues related to the inherently lumpy service provider business." Wells Fargo also downgraded Radware to Market Perform from Outperform. PRICE ACTION: Shares of Radware are sliding 21.59% to $13.58 in afternoon trading. OTHERS TO WATCH: Shares of other companies involved in cybersecurity are underperforming the broader market with FireEye (FEYE) down 2.95%, Palo Alto Networks (PANW) sliding 2.39%, Check Point (CHKP) lower by 3.48% and Imperva (IMPV) down 1.85%.
October 5, 2015
06:11 EDTPANWApple iOS users in China, Taiwan targeted by ad-focused malware
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October 2, 2015
15:14 EDTPANWAs many as 4.6M Scottrade users' data exposed in breach, KrebsonSecurity says
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September 30, 2015
10:33 EDTPANWBattleground: Analysts agree Barracuda shares 'cheap,' diverge on ratings
The shares of Barracuda Networks (CUDA) are falling after the company reported lower than expected revenue and provided weaker than expected guidance. Research firms Piper Jaffray and JPMorgan both said that the shares are cheap in the wake of their huge decline today, though Piper downgraded the shares and JPMorgan kept an Overweight rating on the stock. Barracuda provides IT security and storage solutions, primarily for small and medium businesses. WHAT'S NEW: Barracuda last night reported second quarter earnings per share of 10c, versus analysts' consensus estimate of 9c. The company's revenue, however, came in at $78.4M, below the consensus outlook of $78.7M. Moreover, the company lowered its fiscal 2016 EPS guidance to 34c-36c from 36c-41c. Analysts' consensus estimate was 39c. Barrcuda cut its full-year revenue guidance to $320M-$323M, from $325M-$330M. Analysts' consensus estimate was $325M. The company said that its Q2 results were negatively impacted by longer sales cycles in its Europe, Middle East, and Africa region and it warned that it "saw some evidence" of slowing growth in the storage market. It also stated that its gross billings came in below its expectations. ANALYST REACTION: Piper Jaffray analyst Andrew Nowinski responded to Barracuda's results by downgrading the stock to Neutral from Overweight. Although Barracuda blamed its lower than expected billings guidance on weakness in its storage business, its security billings increased only by high single digit percentage levels, the analyst stated. The shares are "cheap," but the valuation is not compelling enough to recommend the stock, contends Nowinski, who cut his price target for shares to $20 from $40. Barracuda was also downgraded at Macquarie and at Stephens this morning.Conversely, JPMorgan analyst Sterling Auty called Barracuda shares "too cheap to ignore." The company lowered its billings guidance partly due to worries about slowing storage market growth, as indicated by an industry report released last quarter, said Auty. However, the growth of Barracuda's storage business actually accelerated last quarter, reaching about 25%, the analyst stated. He believes that Barracuda's new guidance reflects the company's efforts to be "prudent." Auty cut his price target on the name to $30 from $42 but kept an Overweight rating on the shares. OTHERS TO WATCH: Other publicly traded companies in the IT security space include Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In early trading, Barracuda tumbled 33% to $15.90.
08:02 EDTPANWTrustwave and Palo Alto announce strategic alliance
Trustwave and Palo Alto announced a strategic alliance designed to bring next-generation managed security services to global, multi-national businesses and government agencies. Under the terms of the agreement, Trustwave has become a global member of the Palo Alto Networks NextWave partner program to provide managed security services for the Palo Alto Networks security platform.
September 29, 2015
11:05 EDTENSEnerSys management to meet with Sidoti
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September 27, 2015
14:04 EDTPANWCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
September 23, 2015
20:08 EDTPANWChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
12:36 EDTPANWGovernment cyber attack affects larger number of fingerprint data
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12:16 EDTPANWPiper says reseller event positive for Palo Alto, Imperva, CyberArk
Piper Jaffray analyst Andrew Nowinski says his investor briefing with a large security reseller yielded positive feedback on Palo Alto (PANW), Imperva (IMPV) and CyberArk (CYBR). The reseller's customers' top spending priority is now inside threat protection, which bodes well for Imperva and CyberArk, Nowinski tells investors in a research note. Further, their growth with Palo Alto continues to ramp and should exceed 50% in 2016, the analyst adds. Nowinski found comments around FireEye (FEYE) "slightly more cautious" with some viewing the Mandiant service organization as competitive to their professional service offerings.
September 22, 2015
18:56 EDTCPRTOn The Fly: After Hours Movers
HIGHER AFTER EARNINGS: Copart (CPRT), up 1.48%. ALSO HIGHER: Heron Therapeutics (HRTX), up 22.9% after announcing its Phase 2 study of HTX-011 met its primary endpoint... First Niagara (FNFG), up 7% after a report stated the company was exploring strategic alternatives. LOWER: VIVUS (VVUS), down 1.2% after the company expressed no opinion and remained neutral toward the unsolicited tender offer by IEH Biopharma, a wholly-owned subsidiary of Icahn Enterprises Holding (IEP), to purchase any and all of VIVUS's 4.50% convertible senior notes.
16:51 EDTCPRTCopart reports Q4 EPS ex-benefit 41c, consensus 39c
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16:49 EDTCPRTCopart reports Q4 EPS 44c, consensus 39c
Reports Q4 revenue $282.3M, consensus $282.16M.
14:55 EDTCPRTNotable companies reporting after market close
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07:46 EDTPANWPalo Alto management to meet with Topeka
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