Auto-parts wholesalers and retailers have been stellar performers during the long economic recovery, delivering steady earnings growth and mostly solid stock appreciation. Two stocks in the group, Advance Auto Parts (AAP) and Monro Muffler Brake (MNRO), offered contrasting responses Thursday to earnings reports. Earnings from Advance Auto Parts, which operates more than 5,200 stores, missed analysts’ estimates on earnings and revenue, and the
Proofpoint has been on a buying spree, making relatively small but strategic acquisitions. The Sunnyvale, Calif.-based provider of security software via the cloud spent $24 million for NetCitadel and $35 million for Nexgate last year. In March, Proofpoint agreed to pay $40 million for security firm Emerging Threats. It was money well spent, CEO Gary Steele says, enhancing Proofpoint’s (PFPT) capabilities in advanced threat intelligence, security
Three IBD 50 stocks are hitting new highs in the stock market today : Valeant Pharmaceuticals (VRX), Regeneron Pharmaceuticals (REGN) and NetEase (NTES). A Goldman Sachs report issued Thursday includes Valeant in the top 5 hedge fund long positions, along with Actavis (ACT), Apple (AAPL), Facebook (FB) and Microsoft (MSFT). And reports said Wednesday that Valeant is in advanced talks to buy Egyptian drugmaker Amoun Pharma. Valeant climbed 2.2% in