Today's Research Reports on Stocks to Watch: Cisco Systems and Palo Alto Networks

Today's Research Reports on Stocks to Watch: Cisco Systems and Palo Alto Networks

Tuesday, 16 May 2017 08:00 AM

NEW YORK, NY / ACCESSWIRE / May 16, 2017 / Shares of anti-virus stocks spiked Monday after the recent global "WannaCry ransomware cyberattack" had analysts' suggesting major corporations are set to beef up spending on cyber security. The attack, which demands a ransom of $300 or more to unlock the infected computer or risk losing the data, reached over 200,000 computers in more than 150 countries on Monday. The PureFunds ISE Cyber Security ETF jumped 3.19 percent to close at 30.69 on Friday. The WannaCry attacks "could serve as a wake-up call for many organizations and countries delaying a review of their cybersecurity hygiene," wrote Shaul Eyal, an analyst at Oppenheimer & Co., in a note to clients.

"The attacks over the weekend will certainly get people and companies thinking about what protection they have against attacks, which is clearly a boost for cybersecurity firms and antivirus companies," said Craig, Senior Market Analyst at Oanda, in emailed comments, reported on MarketWatch.com. "Should we see repeated attacks in the coming weeks, then I would imagine these companies will continue to benefit," Erlam added.

RDI Initiates Coverage on:

Cisco Systems, Inc.
https://ub.rdinvesting.com/news/?ticker=CSCO

Palo Alto Networks Inc.
https://ub.rdinvesting.com/news/?ticker=PANW

Cisco Systems' shares jumped 2.33 percent to close at $34.23 a share on Monday. The stock traded between $33.97 and $34.46 on volume of 31.53 million shares traded. The company is scheduled to release results for the third quarter of fiscal 2017 after market close on Wednesday, May 17th. On May 11th, Cisco Systems announced its intent to acquire MindMeld Inc., a privately held artificial intelligence (AI) company. Shares of Cisco Systems have gained approximately 13.27 percent year-to-date.

"The workplace of the future is one powered by AI," said Rowan Trollope, Senior Vice President, Cisco IoT and Applications Group. "This is a significant step toward making that workplace a reality. Integrating MindMeld into the Cisco Spark platform will transform how users interact in Cisco Spark Spaces, Cisco Spark Meetings, and Cisco Spark Care."

Access RDI's Cisco Systems Research Report at:
https://ub.rdinvesting.com/news/?ticker=CSCO

Palo Alto Networks' shares jumped 2.70 percent to close at $119.61 a share on Monday. The stock traded between $119.20 and $122.08 on volume of 3.25 million shares traded. The company is scheduled to release results for the third quarter of fiscal 2017 ended on April 30, after market close on Wednesday, May 31st. Palo Alto Networks has scheduled a conference call at 4:30 pm ET on the same day to discuss quarterly results. On May 2nd, the company announced enhancements to its Traps advanced endpoint protection offering, strengthening malware and exploit prevention capabilities and also extending support to more operating systems. Shares of Palo Alto Networks have fallen approximately 4.35 percent year-to-date.

Access RDI's Palo Alto Networks Research Report at:
https://ub.rdinvesting.com/news/?ticker=PANW

Our Actionable Research on Cisco Systems, Inc. (NASDAQ: CSCO) and Palo Alto Networks Inc. (NYSE: PANW) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com