Palo Alto Networks Gets BOOST from Cisco Success and 4 Stocks Hitting 52-Week Highs
Palo Alto Networks (PANW) and Fortinet (NASDAQ:FTNT), which market network security platforms, advance after Cisco (NASDAQ:CSCO) reported that its network security revenue was boosted 15 percent year-over-year during its Q4. In a note to investors earlier today, research firm FBN Securities stated that the rise in Cisco’s network security revenue is a good sign for Palo Alto and Fortinet. Also, both stocks could see a jump because of The San Francisco Chronicle, which last night quoted ISI Group analyst Brian Marshall as claiming that either Palo Alto or Fortinet may be acquired by EMC (NYSE:EMC). EMC hopes to acquire more security technology, the newspaper elabporated. In late morning trading, Palo Alto rose $2.21, or 3.52 percent, to $64.66, and Fortinet gained 43c, or 1.76 percent, to $24.84. The shares closed at $66.50, up $3.77 or 6.01% on the day. They have traded in a 52-week range of $51.10 to $64.36.
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Petsmart Inc (NASDAQ:PETM): Correction: PetSmart was downgraded at Nomura on July 30, not today. The shares closed at $70.53, up $3.09 or 4.58% on the day. They have traded in a 52-week range of $38.48 to $69.97.
Pluristem Therapeuti (NASDAQ:PSTI) announced that it has obtained permission from the Indian Ministry of Health, or MoH, to continue with a Phase II clinical trial for the treatment of thromboangiitis obliterans, or Buerger’s disease. This Phase II trial may be followed by a larger multi-national Phase III study in the U.S., Europe, and India. Buerger’s Disease is very common in India, affecting about 45 percent to 63 percent of the patients who have peripheral artery disease, or PAD. Last August, the U.S. FDA designated Pluristem’s PLX cells orphan status to treat Buerger’s disease, which is a a severe disease affecting the blood vessels of the extremities. The shares closed at $4.75, up $0.43 or 9.95% on the day. They have traded in a 52-week range of $1.98 to $4.59.
Stage Stores (NYSE:SSI) increases its FY12 EPS to $1.15-$1.25 from $1.08-$1.20, consensus is $1.17. The shares closed at $20.55, up $0.43 or 2.14% on the day. They have traded in a 52-week range of $11.21 to $20.60.
Exxon Mobil Corp. (NYSE:XOM): The White House is reconsidering old plans regarding a possible oil reserve release. The shares closed at $88.67, up $0.67 or 0.76% on the day. They have traded in a 52-week range of $67.93 to $88.67.
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