Fighting Fire With FireEye
Hutton Alpha • 14 Comments
Hutton Alpha • 14 Comments
Fri, Oct. 21, 1:50 PM
- See: Internet attack takes many sites offline for hours
- Up today – FireEye (FEYE +1.9%), Palo Alto Networks (PANW +0.6%), Fortinet (FTNT +1.5%), Cyberark Software (CYBR +3.9%), Check Point Software Technologies (CHKP +0.8%), Proofpoint (PFPT +10.5%) [see earnings]
- Despite these gains, on the last-month term FireEye's lower by 9%, Palo Alto Networks' unmoved, Fortinet's down 11%, Cyberark Software's down 6%, Check Point Software Technologies' up 2% and Proofpoint's up 1.7%. Names down today in the space include Imperva (IMPV -2.6%), Symantec (SYMC -0.3%) and Barracuda Networks (CUDA), respectively lower by 12%, 4% and 1% on the month.
- CDN providers – Akamai Technologies (AKAM +1.5%), Limelight Networks (LLNW -0.5%), Level 3 Communications (LVLT -0.6%)
- Related – (NYSEARCA:HACK)
Tue, Oct. 11, 7:33 PM
- Earlier: Fortinet pre-announces Q3 results below prior guidance, -14% after hours
- Presently – FireEye (NASDAQ:FEYE) -3%, Palo Alto Networks (NYSE:PANW) -4%, CyberArk Software (NASDAQ:CYBR) -2.25%, Check Point Software Technologies (NASDAQ:CHKP) -2%, Proofpoint (NASDAQ:PFPT) -4.25%.
- Barracuda Networks, however, is up 6.6% on earnings while Symantec, Imperva and Secureworks remain presently unchanged.
Tue, Oct. 11, 5:35 PM
Thu, Sep. 22, 2:59 PM
- Yahoo has confirmed a breach affecting at least 500M of its users and SecureWorks (SCWX +6.9%) FireEye (FEYE +5.1%), Barracuda Networks (CUDA +2.9%), Palo Alto Networks (PANW +1.8%), Fortinet (FTNT +1.4%), Imperva (IMPV +1.2%), CyberArk Software (CYBR +1%) and others are benefitting because of it.
- The impact of the development on Yahoo has so far been minimal, with shares presently trading up 0.6% on the day.
Wed, Sep. 7, 9:43 AM
Fri, Aug. 5, 9:12 AM
Thu, Aug. 4, 5:35 PM
Thu, Aug. 4, 4:49 PM
- FireEye (NASDAQ:FEYE) reports 19% Y/Y revenue ($175M) and 10% Y/Y billings ($196.4M) increases, though both figures were below expectations.
- Operating margin of -28% vs. -41% Y/Y. Cash flow from operations of -$13.1M vs. $39.1M Y/Y.
- Projects Q3 revenue of $180M-$186M, billings of $200M-$215M, operating margin of negative 25% to negative 27% of revenue, and net loss per share of $0.30-$0.32.
- Projects FY 2016 revenue of $716M-$728M, billings of $835M-$855M, operating margin of negative 26% to negative 28% of revenue, and net loss per share of $1.28-$1.32.
- Announces the company's board of directors approved a plan to reduce its workforce. Projects Q4 cost benefit of $20M resulting from the move.
- CEO Kevin Mandia: "We still have much work to do, but I am convinced that FireEye has the critical assets necessary for long term success, and that we are taking additional steps to achieve balanced growth and profitability."
- Mandia additionally noted in a separate interview the “scope and scale” of cyber threats have changed, resulting in lower volume attacks and consequently less sizable deals for FireEye.
- Conference call
- Press release
- Slide presentation
Thu, Aug. 4, 4:06 PM
Wed, Aug. 3, 5:35 PM
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Wed, Jun. 15, 2:58 PM
- Bloomberg reports FireEye (FEYE +5.4%) has rejected several takeover offers.
- The report follows speculation a tech giant such as Cisco or IBM will bid for threat-prevention hardware/software/services provider as shares continue trading at depressed levels. FireEye rose on Monday after Symantec announced it's buying Blue Coat for $4.65B.
- Update: Bloomberg reports FireEye hired Morgan Stanley to field offers, and "turned down at least two suitors that made offers below its expectations of $30 or more per share." Symantec (NASDAQ:SYMC) was one of the suitors before deciding to acquire Blue Coat. The sale process is no longer active.
Mon, Jun. 13, 10:31 AM
- FireEye (FEYE +3%) has caught a bid after Symantec announced it's buying web/cloud security hardware and software firm Blue Coat for $4.65B, or over 90% more than what P-E firm Bain paid for Blue Coat last year.
- There's been speculation FireEye will draw M&A interest, given its shares trade at a small fraction of their 2014 high and the company still maintains strong positions in multiple security tech fields. Cisco and IBM have been mentioned as potential suitors.
Thu, May 26, 5:46 PM
- Several security tech names are selling off after next-gen firewall leader and cybersecurity poster child Palo Alto Networks (PANW - down 9.4%) offered in-line guidance (below consensus at the midpoints) to go with an FQ3 sales beat and in-line EPS, disappointing investors accustomed to seeing Palo Alto provide above-consensus sales guidance with its results.
- Palo Alto's billings rose a solid 61% Y/Y in FQ3, nearly on par with FQ2's 62% growth and outpacing revenue growth of 48%. Product revenue rose 33%, and services revenue (boosted by subscription offerings such as WildFire) 63%. EPS was pressured by a 50% Y/Y increase in GAAP operating expenses to $309.5M.
- FireEye (NASDAQ:FEYE) is down 2% after hours. CyberArk (NASDAQ:CYBR) is down 2.4%. Imperva (NYSE:IMPV) is down 1.7%. Fortinet (NASDAQ:FTNT) is down 1.5%.
- ETF: HACK
Tue, May 24, 1:23 PM
- Vague buyout rumors are once more giving a lift to beaten-up FireEye (FEYE +7.3%). IBM is the rumored suitor in question this time around (Cisco did the honors last year). The Nasdaq is up 1.9%.
- Also: optionMONSTER reports over 7K call option contracts sporting a $14.50 strike price and expiring on May 27 were purchased today. FireEye closed yesterday at $14.25, but is now above $15.
- Shares have now recovered most of the losses they saw after FireEye issued soft revenue guidance in its May 5 Q1 report, and announced Dave DeWalt is being replaced as CEO by President Kevin Mandia. Mandia and CFO Michael Berry have bought shares since.
Mon, May 16, 2:44 PM
- Two weeks after being named CEO, Kevin Mandia discloses he bought 27,600 FireEye (FEYE +3.5%) shares today at $12.70. His direct holdings now total 2.63M, and his indirect holdings 144K.
- FireEye was clobbered on May 6 after the company (in tandem with its CEO announcement) posted mixed Q1 results and offered soft revenue guidance. CFO Michael Berry bought 16,500 shares on May 9 at $12.84.
Fri, May 6, 12:45 PM