Shares of Workday (WDAY, $84.24) are trying to work their way back above the 200-day moving average, which is trending sideways at $85.13. 

Earlier this month, the stock failed on its first test of the average, hitting resistance at $85.25 on the rebound off the July 6 low of $74.26. The RSI stands at 59.6.

Citi upgrades GoPro (GPRO, $61.69) to ‘Buy’ and raises its price target to $90 from $63, saying the company will be a beneficiary of megatrends in flying cameras and virtual reality. 

The firm believes GoPro could become a top-two player in the flying camera market, which it estimates to be worth $5 billion to $10 billion in five years.

Following the release of last night’s Q2 results, Sterne Agee CRT raises its Facebook (FB, $96.99) price target to $110 from $92 based on continued solid user growth (MAUs +13%) and strong engagement (DAU/MAU at a record 65%).

In addition, the Instagram, Messenger and WhatsApp communities continue to grow, and represent large future monetization opportunities, says the firm.

RBC Capital reduces its Twitter (TWTR, $31.63) price target to $41 from $47, saying soft MAU trends are causing revenue growth deceleration. 

The analyst says management has not given any clarity with respect to upcoming product and UI changes that could at least stabilize usage metrics. 

The concern is potential advertisers now have good reasons to hold off on major new commitments to the service.

OpCo upgrades FireEye (FEYE, $46.15) to ‘Outperform’ with a price target of $58 based on positive Q2 checks. Looking longer term, the firm is upbeat on FireEye’s expanding subscription security business.

For Q2, the consensus revenue estimate of $143.1 million represents growth of 51.5%. FireEye reports results tomorrow after the close.

Bernstein reduces its Twitter (TWTR, $32.26 pre market, -11.8%) price target to $33 from $47, saying the shares are unattractive based on poor user growth and a high valuation.

Nomura also cuts its target to $33 based on slower user growth. In Q2, Twitter’s U.S. MAUs were flat sequentially at 66 million.

After rising 5.3% during the regular session, Twitter (TWTR, $37.91 after hours, +3.6%) shares are gaining more than 3% in after-hours trading following better-than-expected Q2 results:

EPS of seven cents beat the consensus estimate by three cents on revenue of $502 million (+61% y/y), above the consensus of $481.3 million and the high end of the guidance range of $470 million to $485 million.

Ad revenue rose 63% to $452 million. Mobile ad revenue accounted for 88% of total ad revenue.

MAUs (including SMS Fast Followers) totaled 316 million, vs. 308 million in Q1. Excluding SMS, MAUs were 304 million (+12% y/y), a gain of 2 million sequentially. Mobile accounted for 80% of total MAUs.

For Q3, revenue guidance of $545 million to $560 million fell short of the consensus of $555.7 million at the midpoint of $552.5 million.

For 2015, Twitter raises the low end of the revenue guidance range to $2.2 billion from $2.17 billion, but keeps the high end at $2.27 billion. The consensus is $2.2 billion.

GrubHub (GRUB, $30.53) reports Q2 EPS of 17 cents, four cents above the consensus estimate, on revenue of $88 million (+47% y/y), vs. the consensus of $85.2 million.

Active diners rose 42% to 5.93 million. Average daily grubs of 220,100 advanced 26%.

For Q3, the company sees revenue of $85 million to $87 million, vs. the consensus of $85.6 million.

Pacific Crest upgrades Box (BOX, $16.58), a provider of enterprise cloud storage and collaboration solutions, to ‘Overweight’ with a price target of $24 based on what it believes to be a compelling risk/reward balance for the stock at current levels. 

The firm is upbeat on Box’s expanded product portfolio and recent key customer wins.

In fiscal Q1 (April), Box’s revenue grew 45% to $65.6 million. Billings were up 58% to $69.8 million. The company added more than 2,000 accounts and now has more than 47,000 customers.

For fiscal 2016 (Jan.), the consensus revenue estimate of $289.5 million represents growth of 33.8%.

RBC Capital lifts its Qlik Technologies (QLIK, $40.12) price target to $48 from $44 based on growing platform momentum and conservative guidance. 

The firm says Q2 results showed broad-based strength across all geographies for the company’s analytics solutions. 

Large deal activity was robust, a benefit of an expanded product platform. Qlik Sense adoption is accelerating faster than the company had expected, says RBC.

Qlik shares today are up more than 6% on heavy volume. Earlier, the stock hit an all-time high at $42.06.

NetSuite (N, $92.02), a provider of cloud-based ERP solutions, last night reported Q2 revenue rose 35% to $177.3 million (including a currency impact of $3 million), well above the consensus estimate of $172.1 million and the high end of the guidance range of $170 million to $172 million.

Calculated billings were up 37.6% (+33% ex-Bronto acquisition). Deferred revenue gained 38% to a record $348 million.  

For Q3, NetSuite’s revenue guidance range of $192 million to $194 million compares favorably to the consensus of $192.4 million.

For 2015, revenue guidance was raised: $735 million to $745 million, vs. $730 million to $743 million previously. 

Shares of Splunk (SPLK, $75.39) today are gaining nearly 3% and have hit a new 52-week high at $76.29. 

The RSI is rising from 66.8. Both the 50- and 200-day moving averages continue to trend upward. 

The key resistance levels to watch: $76.26 (April 2014), $90 (May 2014) and $90.49 (May 2014).

JP Morgan upgrades Fortinet (FTNT, $47.20) to ‘Overweight’ and raises its price target to $54 from $40, saying recent investments to move more up-market into the enterprise are paying off. 

In Q2, the number of deals over $100K rose 53%. Revenue growth in the Americas (45% of total revenue) accelerated to 39% from 26% in Q1, driven by 90% growth in the U.S. enterprise business.

Following last night’s excellent Q2 earnings report, shares of security vendor Fortinet (FTNT, $47.59) this morning are surging more than 12% on heavy volume. The stock hit a new all-time high at $47.83.

Fortinet was added to the Tech-Stock Prospector Small-Cap Portfolio in July 2011 at $20.75 a share.

Read more about Fortinet in the new issue of Tech-Stock Prospector. 

The July 2015 issue of TSP is available here for download to your Kindle or Kindle for iPad/iPhone reading app.

Shares of mobile chipmaker Skyworks Solutions (SWKS, $97.06) today are being pulled down by concerns about iPhone unit sales missing the consensus in the latest quarter.

The stock failed on its recent rebound to the 50-day moving average at $103.98 and today is falling more than 6% on heavy volume.

There is short-term support at the pivot low of $93.27 from earlier this month.

The 200-day moving average continues to trend upward from $84.39.

UBS maintains its Apple (AAPL, $121.65 pre market, -6.9%) price target of $150, saying it doesn’t see a reason to get scared out of the stock, pointing out these positives from FQ3:

1-iPhone ASP of $660 was up $99 y/y

2-China continues to drive results, with revenue more than doubling 

3-Switching from Android is at an all-time high, with opportunity for significant share gains in emerging markets (35% of revenue)

4-Downside in the stock appears limited as long as gross margin remains in upper-30% range

On the release of fiscal Q3 (June) results, Apple (AAPL, $122) shares are down 6.6% after hours because iPhone unit sales of 47.5 million fell short of expectations by 1.5 million units. 

EPS of $1.85 beat the consensus estimate by four cents on revenue of $49.6 billion, vs. the consensus of $49.3 billion. Gross margin of 39.7% topped the consensus of 39.5%.

iPad unit sales totaled 10.9 million (the consensus was 10.8 million) and Mac unit sales came in at 4.8 million (the consensus was 4.7 million).

Dougherty & Co. starts coverage of CyberArk Software (CYBR, $57.02) at ‘Buy’ with a price target of $70 based on an outlook for 30% annual revenue growth through 2018. 

The firm likes that CyberArk’s security solutions are used in conjunction with traditional perimeter offerings (NGFW,  ATP and IPS) instead of competing against them. 

Dougherty expects continued breaches to increase overall security spending inside the network, with an expanded focus on privileged account security (PAS), which is CyberArk’s specialty. 

For our latest update on CyberArk, read the new issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app. Download the July 2015 issue here.

For 2015, the consensus EPS estimate over the past week has risen to $28.89 from $28.27, while the ’16 consensus jumped to $33.65 from $32.71.

Analysts on average look for top-line growth next year to accelerate to 15.1% from 12.5% expected this year.

Piper Jaffray starts PayPal (PYPL, $40.88) at ‘Underweight’ with a price target of $30 based on the argument that increased competition in global payments could weigh on the stock’s valuation. 

The firm points to Apple Pay and Android Pay gaining traction at POS, with a move to extend these offerings into the mobile/desktop Web payments landscape. Interest in payments at Facebook (FB) and Amazon (AMZN) could lead to more digital wallet competitive threats over the next 24 months, says Piper Jaffray.

OpCo ups its TripAdvisor (TRIP, $91.99) price target to $105 from $90 based on a more positive 2H view for online travel. The firm has increased confidence that TripAdvisor’s hotel inventory is selling well. Site traffic is accelerating and mobile conversions appear to be improving, according to OpCo.

TripAdvisor shares have rebounded 24% from the June 4 low of $74.14.

Ahead of the IPO lock-up expiration on Wednesday, Box (BOX, $17.55) shares today dropped 6.3%. 

Box, a provider of enterprise cloud storage and collaboration solutions, went public in January at $14 a share and opened for trading at $20.20. 

The post-IPO high of $24.73 was reached on the first day. Last week, Box shares fell to a new post-IPO low of $16.40.

For fiscal 2016 (Jan.), the consensus revenue estimate of $289.5 million represents growth of 33.8%.

Shares of PayPal (PYPL, $40.62) today are up more than 5% during the first session following the completed spin-off from eBay (EBAY, $28.86). 

Shareholders of eBay received one PayPal share for each eBay share.

Here is a sampling of initial Wall Street recommendations on PayPal:

*JP Morgan starts coverage at ‘Overweight’ with a price target of $48

*BMO Capital initiates at ‘Outperform’/$46 PT

*Nomura starts at ‘Buy’/$46 PT

*SunTrust initiates at ‘Buy’/$45 PT

*Wedbush starts at ‘Neutral’/$40 PT

*Evercore ISI starts at ‘Sell’ with a target of $36

For more on PayPal, see TechStock Radar--July 2, 2015.

Barclays downgrades Zillow (Z, $78.57) to ‘Underweight’ and reduces its price target to $70 from $90 because it believes Q2 consensus estimates are too high. The firm says competition is increasing in the real estate information market.

Zillow shares this morning are down more than 5% and earlier hit a new 52-week low at $76.82.

SunTrust upgrades Ruckus Wireless (RKUS, $10.59), a provider of WiFi infrastructure solutions, to ‘Buy’ with a price target of $14 (up from $12) based on accelerated growth in the service provider segment and upside potential in the education vertical. The firm also points to more favorable competitive dynamics in the service provider market.

The 2015 consensus revenue estimate of $369.4 million represents growth of 13%. For 2016, analysts on average look for top-line growth to accelerate to 18.6%.

Stephens says its partner checks indicate continued improvement in demand and sales execution at Imperva (IMPV, $71.10). 

The firm looks for Q2 results to beat consensus estimates, partly on strong demand for the Incapsula cloud-based security offering. 

Stephens maintains its price target of $75.

RBC Capital starts Splunk (SPLK, $72.88) at ‘Outperform’ with a price target of $85 based on the company’s ability to take share in the new market of operational intelligence. 

Harnessing the full power of Big Data analytics, Splunk’s solutions provide actionable insights to help workers make better business decisions across an entire organization, says the firm.

Google (GOOGL, $644.93 after hours, +7.1%) reports Q2 EPS of $6.99, 28 cents above the consensus estimate of $6.71, on revenue of $17.73 billion, vs. the consensus of $17.75 billion. CFFO totaled $7 billion. 

The company called out strength in mobile search, YouTube and programmatic advertising.

Google shares are surging more than 7% in after-hours trading.

Google is a holding in the Tech-Stock Prospector Vulture Portfolio, added in May 2010 when the stock traded at $249.63.

Topeka Capital lifts its Palo Alto Networks (PANW, $190.57) target to $215 from $175 after raising its FY’16 and FY’17 estimates to reflect a more gradual deceleration in revenue growth than previously estimated, driven in part by three new subscription services—Traps, AutoFocus and CirroSecure—that can address the relatively captive installed base of 24,000+ customers (growing 1,500/quarter).

Palo Alto Networks is a holding in the Tech-Stock Prospector Small-Cap Portfolio, added in June 2013 when the stock was trading at $39.42. Today, the shares hit an all-time high at $191.75.

For our latest update on Palo Alto Networks, read the new issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app. Download the July 2015 issue here.

Tableau Software (DATA, $125.86) shares today hit an all-time high at $125.96.

Tableau, a provider of visualization-focused analytics solutions, is a holding in the Tech-Stock Prospector Small-Cap Portfolio, added in April 2014 when the stock was trading at $63.38.

Read our latest update on Tableau in the new issue of Tech-Stock Prospector. The July 2015 issue of TSP is available here for download to your Kindle or Kindle for iPad/iPhone reading app.

BMO Capital upgrades Google (GOOGL, $583.96) to ‘Outperform’ with a price target of $670, saying it has increased confidence in upward estimate revisions in coming quarters, anchored by stiffening margins. 

The firm believes a steady revenue outlook, underpinned by consistent search growth and YouTube’s continued push for TV ad dollars, combined with margin stabilization in 2H’15 and 2016 will drive multiple expansion.

Intel (INTC, $31.65 after hours, +6.5%) reports Q2 EPS of 55 cents, five cents above the consensus estimate, on revenue of $13.2 billion, vs. the consensus of $13.04 billion. Gross margin came in at 62.5%.

Revenue by division:

*Client Computing $7.5 billion -14% y/y

*Datacenter $3.9 billion +10%

*IoT $559 million +4%

*Software/services $534 million -3%

For Q3, the company sees revenue of $13.8 billion to $14.8 billion, vs. the consensus of $14.1 billion. Gross margin guidance: 63% +/- couple of points

For 2015, Intel expects revenue to decline ~1%. The consensus revenue estimate of $54.77 billion represents a decline of 2%.

Morgan Stanley reiterates its Oracle (ORCL, $40.78) price target of $50 based on growth in the cloud business, the upcoming 12c database cycle and stability in the core maintenance revenue stream.

For our latest update on Oracle, read the new issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app. Download the July 2015 issue here.

Shares of Palo Alto Networks (PANW, $185.21) today hit an all-time high at $185.70.

Palo Alto is a holding in the Tech-Stock Prospector Small-Cap Portfolio, added in June 2013 when the stock was trading at $39.42.

For our latest update on Palo Alto Networks, read the new issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app.

Download the July 2015 issue here.

Barclays upgrades GoPro (GPRO, $55.43) to ‘Overweight’ and raises its price target to $65 from $50, saying strong execution since the IPO (including the introduction of the Hero4 and compact Session) has solidified the company’s hardware lead. 

The firm believes new developments such as 360 video, drones, better editing/production tools and content initiatives should further expand the lead.

GoPro shares today are up more than 6% on active volume.

The Match Group unit of IAC/InterActiveCorp (IACI, $83.53) announces the purchase of online dating site PlentyOfFish for $575 million in cash. The deal is expected to close in Q4.

Match (made up of Match.com, Tinder and OKCupid) is set to go public later this year.

FBR Capital reiterates its Salesforce (CRM, $71.06) target of $82, saying recent conversations with several European partners and customers lead it to believe business momentum is even stronger in Europe than in the U.S. In particular, demand for Marketing Cloud is increasing in EMEA, says the firm.

FBR sees plenty of new EMEA business up for grabs and says partners are rapidly expanding their Salesforce practices:

EMEA represents just under 20% of Salesforce’s revenue, and the ~$1 billion annual revenue run-rate is only a fraction of Oracle’s and SAP’s application revenue in the region. We believe Salesforce has only scratched the surface of its revenue opportunity in EMEA, and our recent checks suggest the company is experiencing healthy demand, executing well and taking market share from its rivals.

Shares of PayPal (PYPLV, $36.81) today rose more than 6% on heavy volume ahead of the spin-off on Friday from eBay (EBAY). 

Earlier, Cantor Fitzgerald started coverage of PayPal at ‘Buy’ with a price target of $45, saying the company has a large addressable opportunity in both online & offline payments.

Facebook (FB, $90.09) shares today hit a new all-time high at $90.22.

For our latest update on Facebook, a holding in the TSP Vulture Portfolio, read the new issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app. 

Download the July 2015 issue of TSP here.

Dougherty initiates coverage of FireEye (FEYE, $50.34) at ‘Buy’ with a price target of $65, saying the company is well-positioned to benefit from increased security spending.

The firm believes FireEye’s continued technological development and innovation are key competitive advantages that will enable sustainable growth of 35%+ for the next several years.

Pacific Crest likes mobile chipmaker Qorvo (QRVO, $76.86) ahead of fiscal Q1 earnings, saying the company is getting a boost from healthy iPhone demand trends and additional cost synergies associated with the merger (RF Micro/TriQuint).

The consensus estimates for the June quarter: EPS of $1.06 on revenue of $664.7 million.

At last week’s low of $73.71, Qorvo shares had declined 16.5% from the June 22 high of $88.35. 

Cantor Fitzgerald remains optimistic about the cloud initiatives being undertaken at Oracle (ORCL, $40.44), maintaining its ‘Buy’ rating and price target of $48.

The firm points out that Oracle views the transition of IT resources into the cloud as a “generational change” that only comes along once every 20 to 25 years. 

For more on the cloud story at Oracle, read the latest issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app. Download the July 2015 issue here.

Shares of PayPal (PYPLV, $34.60) this week began trading on a when issued basis ahead of the spin-off from eBay (EBAY, $62.02). 

On July 17, eBay holders will receive their 1-for-1 PayPal distribution. On July 20, PayPal shares begin trading under the symbol PYPL.

Evercore ISI ups its Expedia (EXPE, $106.83) price target to $115 from $99 based on:

1-Q2 checks that indicate core trends were strong in the quarter

2-A successful close expected for the Orbitz deal

For more on Expedia, see TechStock Radar--June 22, 2015.

Shares of Zillow (Z, $80.97) today are down 5% on news the CFO is leaving to pursue other interests. Earlier, the stock hit a new 52-week low at $77.62.

As Barclays points out, the timing of the departure of Chad Cohen (effective August 7) is “less than ideal” because Zillow continues to work its way through the Trulia integration, a process the firm believes has so far led to disruption in both agent and traffic growth.

Barclays expects integration pains to weigh on Zillow’s operating performance through the second half of the year.

Mizuho Securities starts LinkedIn (LNKD, $207.59) at ‘Outperform’ with a price target of $240, saying the company has transformed itself into a media property focused on providing professionals with insights and tools to help them excel in their careers, vs. just a “people search” service in the past.

The firm expects LinkedIn to continue to successfully leverage a large and growing user base to drive multiple forms of monetization—including selling SaaS subscriptions (to large enterprises and SMBs), targeted advertising and premium subscriptions to members and salespeople. 

Since we covered Mobileye (MBLY, $57.12) in the April 2015 issue of Tech-Stock Prospector (TSP #158), the stock has risen nearly 40%. Today, the shares are up 5.5% on heavy volume.

Robert W. Baird today raises its rating on Mobileye—the leading provider of camera-based advanced driver assistance systems (ADAS)—to ‘Outperform’ with a price target of $73 based on the company’s longer-term growth story.

The firm says it is now much more comfortable with the pace of active safety adoption across the auto industry and Mobileye’s technology positioning to recommend the stock despite the lofty valuation.

Read the latest issue of Tech-Stock Prospector on your Kindle or Kindle for iPad/iPhone reading app. Download the July 2015 issue here.

Several momentum names in the semiconductor segment have been hit over the past few weeks by heavy selling pressure:

(ranked by % pullback from June high)

1-Ambarella (AMBA)  -25%

2-NXP Semiconductors (NXPI) -21.2%

3-Cavium (CAVM) -18.1%

4-Avago Technologies (AVGO) -17.8%

5-Skyworks Solutions (SWKS) -17.4%

6-Qorvo (QRVO) -15.8%

The two lowest RSIs in the group: 

*NXP Semiconductors 21.6

*Cavium 23.8

Sterne Agee CRT says the recent pullback in shares of GrubHub (GRUB, $31.52) provides an attractive entry point and maintains its price target of $56.

The firm calls GrubHub the dominant platform focused on takeout at independent U.S. restaurants, a $70-billion market that remains 95% offline and ripe for disruption from online/mobile technologies. Sterne Agee expects GrubHub over the next five years to more than double its U.S. market share to 7%+.

Shares of security solutions vendor CyberArk Software (CYBR, $55.31) today are down more than 4% on active volume. Earlier, the intraday low was $53.19.

On June 18, CyberArk hit a new all-time high of $76.35. Since then, the stock has been weak, gaining downside momentum after slipping below its 50-day moving average of $64.80 at the end of June. 

The RSI is falling from 30.8. There is support at $47.50 from May.

Brean Capital upgrades Salesforce (CRM, $68.98) to ‘Buy’ with a price target of $85 because it believes deeper cross-cloud integration and product improvements will aid up-sell, billings and subsequent revenue growth. 

The firm says Salesforce’s Marketing Cloud and Service Cloud are now better aligned with core Sales Cloud customer needs, which will help grow new ACV in fiscal 2017 and beyond.

In Marketing Cloud, Brean says its findings show pent-up demand from marketers seeking better ad management tools.

UBS upgrades Electronic Arts (EA, $68.01) to ‘Buy’ and raises its price target to $80 from $65 based on a strong schedule of game releases for fiscal 2016 (March), including Star Wars: Battlefront. The firm also calls out EA’s increasing traction in mobile. 

The FY’16 consensus EPS estimate of $2.85 indicates growth of 13.5%. The Street-high estimate is $3.08.

For more on EA, see TechStock Radar—June 26, 2015.

Cowen downgrades Fortinet (FTNT, $40.33) to ‘Underperform’ with a price target of $37 because it sees three factors—tougher comps, an increasingly competitive security environment and challenges in truly penetrating the enterprise—making it more difficult for the company to exceed investor expectations over the next 12 to 18 months.

The firm does admit that the security market remains strong and says Fortinet’s recent execution has unquestionably been very good.

Deutsche Bank remains concerned that the Apple (AAPL, $125.65) iPhone market share has peaked, and with the overall smartphone market slowing, expects reduced growth rates for the company going forward. 

Given the very strong expansion during the current cycle, the firm predicts iPhone’s growth will underperform overall market growth as the iPhone 6 launch hits its anniversary in calendar Q4 2015. 

Deutsche Bank maintains its ‘Hold’ rating and price target of $125.

Cowen says the Yelp (YELP, $38.20) valuation is attractive on both current growth and the longer-term outlook.

The firm reiterates its price target of $55, saying the focus can return to Yelp’s fundamentals now that the company has temporarily decided not to pursue a sale.

“The news may be a positive sign for Q2, as Yelp would face more pressure to sell if business were deteriorating,” says Cowen.

Yelp (YELP, $37.57) shares this afternoon are down 11% (and earlier hit a new 52-week low at $36.10) after a Bloomberg article said the company has decided (for now) to not pursue a sale.

The article states Yelp turned away “several interested suitors.” However, maybe it was more like Yelp couldn’t find a buyer at the price it wanted. 

Well, the price just got a lot cheaper after today’s sharp haircut. The stock is now well below its 52-week high of $86.88 and the market cap is down to $2.8 billion. 

RBC Capital upgrades GrubHub (GRUB, $31.60) to ‘Outperform’ following the recent sharp pullback in the stock, which traded just above $41 as recently as June 1. The all-time high of $47.95 was set in March. 

There has been concern about increased competition in newer markets. Yesterday, GrubHub shares fell 7.1% after research firm ITG said the company could experience a Q2 revenue shortfall.

RBC remains positive on GrubHub’s fundamentals, saying the company has an attractive business model and is the leader in the large addressable market of food takeout/delivery. The firm reduces its price target to $42 from $46 though.

The PayPal unit of eBay (EBAY, $60.42) will acquire Xoom (XOOM, $20.70), a provider of digital money transfers, for $25 a share in cash in a deal worth $890 million.

Xoom enables customers in the U.S. to send money to and pay bills for friends and family worldwide via mobile and the Web. Xoom has a presence in 37 countries, with particular emphasis on Mexico, India, the Philippines, China and Brazil.

Xoom has 1.3 million active users. PayPal has 68 million customers in the U.S.

PayPal will split from eBay on July 17 and begin trading on July 20 under the symbol PYPL. 

The Xoom purchase is expected to close in Q4.

Shares of videogame software maker Electronic Arts (EA, $67.93) held up relatively well during this week’s market pullback and still sport an RSI of 68.2. 

So far this year, EA stock has advanced 44%.

The all-time high for EA of $71.16 was hit in March 2005.

Shares of flash storage vendor SanDisk (SNDK, $57.97) this morning hit a new 52-week low at $57.49. So far this year, the stock has declined nearly 41%.

In the April 2015 issue of Tech-Stock Prospector (TSP #158), we told subscribers SanDisk shares (trading around $67.30 at the time) had near-term downside risk to the $50 to $55 range.

For more on SanDisk, see TechStock Radar—April 16, 2015.

Starting coverage of Check Point Software (CHKP, $79.55) at ‘Market Perform,’ JMP Securities is concerned that increasing competition in the firewall market may limit new customer growth for the security vendor.

Check Point has a 22% share of the enterprise firewall market, according to the firm. But that market-leading position is at risk as emerging firewall vendors continue to gain a stronger foothold.