On Wednesday, Shares of SouFun Holdings Ltd. (NYSE:SFUN), gained 9.06% to $9.75, as Chinese stocks rally following Qihoo 360 Technology’s (QIHU) buyout offer.
Qihoo 360 CEO Hongyi Zhou and other shareholders offer to buy the Chinese Internet company for $77 a share on Wednesday to bring it private. The offer represents a 16.6% premium over Qihoo 360’s Tuesday closing price of $66.05 a share.
More than a dozen Chinese companies received buyout offers from executives this year, with Qihoo 360 being the largest of the group, according to Barron’s.
SouFun Holdings Limited operates a real estate Internet portal, and home furnishing and improvement Websites in the People’s Republic of China. The company offers marketing services on its Websites, primarily through advertisements to real estate developers in the marketing phase of new property developments, in addition to to real estate agencies; and suppliers of home furnishing and improvement, and other home-related products and services.
Shares of Halliburton Company (NYSE:HAL), inclined 0.64% to $45.71, during its last trading session.
Oil prices swung over a wide range but ended little changed Wednesday, as a dovish Federal Reserve statement assisted the market recover from a selloff after disappointing U.S. stockpile data.
Light, sweet crude for July ended the day down 5 cents, or 0.1%, at $59.92 a barrel on the New York Mercantile Exchange, after ranging more than 4% between intraday highs and lows contrast with Tuesday’s settlement, according to WSJ.
Halliburton Company provides a range of services and products to the upstream oil and natural gas industry worldwide. The company operates through two segments, Completion and Production, and Drilling and Evaluation.
Finally, CyberArk Software, Ltd. (NASDAQ:CYBR), ended its last trade with 3.81% gain, and closed at $73.89, hitting its highest level.
On June 10, CyberArk Software, declared the pricing of a registered public offering of 4,900,000 ordinary shares at a price of $61.00 per share. 4,000,000 of the shares are being sold by shareholders of the company and 900,000 of the shares are being sold by CyberArk. The underwriters have a 30-day option to purchase up to an additional 735,000 ordinary shares at the public offering price from the selling shareholders. CyberArk will not receive any proceeds from the sale of the shares by the selling shareholders. The offering was predictable to close on June 16, 2015, subject to customary closing conditions.
Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Barclays Capital Inc. were acting as joint book-running managers and as representatives of the underwriters in the offering. BofA Merrill Lynch and UBS Securities LLC are acting as book-running managers in the offering. William Blair & Company, L.L.C., Nomura Securities International, Inc. and Oppenheimer & Co. Inc. are acting as co-managers in the offering.
Analysts Expectations:
Analysts on the Street are expecting CyberArk Software Ltd. (NASDAQ:CYBR) to post an earnings per share number of $0.04 for the quarter that ends on 2015-06-30. The figure is the consensus from all of the firms that have issued estimates on the company.
Research analysts have a consensus long-term growth estimate of $22.78 on the company. This estimate considers both sales and earnings over the next three to five years. The three months ago estimate was at $22.78.
Stock upgraded:
Vetr upgraded shares of Cyberark Software Ltd (NASDAQ:CYBR) from a strong sell rating to a sell rating in a report released on Monday. Vetr presently has $49.04 price objective on the stock.
CyberArk Software Ltd. develops, markets, and sells software-based IT security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor privileged account access and activities.
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