NEW YORK, April 15- The abrupt firing of Symantec Corp Chief Executive Officer Steve Bennett last month is attracting activist investors and private equity firms to the U.S. security software maker, in a development that could potentially lead to its breakup or sale, sources familiar with the situation said.
He said he saw the space as an "arms race" as cyber security players such as Palo Alto, Check Point Software Technologies Ltd and FireEye Inc are all in the process of building out their product wings. Palo Alto and FireEye have been acquiring companies to strengthen their security software offerings.
*Backed by PE firms Francisco Partners, Sequoia Capital. Campbell, California- based Barracuda's shares opened at $22.20 and touched a high of $23.77 in morning trading, valuing the company at $1.19 billion. Its rivals include Symantec Corp, Check Point Software Technologies Ltd, CommVault Systems Inc and Intel Corp's McAfee unit.
Some of the names on the move ahead of the open.
Cisco Systems says it will buy software maker Sourcefire for about $2.7 billion in cash to boost its network security offerings.
Cybercriminals aren't the only ones cashing in on espionage and hacking attacks; security companies small as well as large are poised to rake in profits.
Hedge fund managers and investment gurus have to notify the SEC about their moves every quarter. Investors pore over this data in the belief the big fish have special insight.
Big investors are reporting their quarterly holdings, offering a glimpse into what some of the big fish were buying and selling during the first quarter.
Check out which companies are making headlines after the bell Wednesday:
One analyst believes the networking giant is one of the best bargains on the market. Here's why.
It seems that all of the excitement surrounding Palo Alto Networks' initial public offering has vanished. TheStreet.com reports.
Among the earnings stories for Wednesday, Oct. 17, from The Associated Press:. _ Halliburton Co. said a decline in revenue in its core North America market was largely responsible for a 12 percent decline in third-quarter profit.
SAN CARLOS, Calif.-- Check Point Software Technologies Ltd. said Wednesday that its third-quarter net income and revenue grew thanks to growing demand for its Internet security software.
Oct 11- Check Point Software Technologies Ltd:. *Needham cuts Check Point Software Technologies Ltd to hold rating. Reuters Station users, click. 1568.
target to $27 from $30. target to $20 from $27. target to $33 from $34* RBC cuts VMware Inc to sector perform from outperform; price target to $100 from $115.
Concerns about Europe and slowing IT spending in North America were central in Nomura’s decision to trim estimates for numerous software companies on Monday. One analyst said that while the sector is suffering, they may be safe haven for investors.
Cramer makes the call on viewers' favorite stocks.
Stocks came off session lows, but still finished sharply lower Monday, as bank stocks slumped amid ongoing macroeconomic concerns and ahead of a big earnings week.
Stocks were off session lows in the final hour of trading Monday but were still lower, led by banks, amid ongoing debt concerns in Europe and the lack of progress in U.S. debt-ceiling negotiations.
Here's why you should keep a close eye on these six stocks.