Why Barracuda Networks Inc (CUDA), Blackhawk Network Holdings Inc (HAWK) and Danaher Corporation (DHR) Are 3 of Today’s Best Stocks

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Stocks were mixed Wednesday after the release of minutes from the Federal Reserve’s most recent meeting indicated the U.S. central bank could proceed with its first interest rate increase sometime soon.

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The S&P 500 finished higher by 0.11% while the Dow Jones Industrial Average added 0.09%. The Nasdaq Composite closed lower by 0.15%.

When the closing bell rang, Barracuda Networks Inc (NYSE:CUDA), Blackhawk Network Holdings Inc (NASDAQ:HAWK) and Danaher Corporation (NYSE:DHR) were three of the day’s best performers.

Barracuda Networks Inc (CUDA)

Shares of Barracuda Networks Inc jumped 9.2% on more than 15 times the average daily volume after the provider of data and security solutions and services reported fiscal second-quarter earnings that beat expectations.

CUDA said it earned 21 cents per share for the quarter ended Aug. 31. Wall Street expected CUDA to earn 13 cents per share. CUDA reported gross billings of $100.3 million, topping the company’s previously issued guidance for the quarter of $96 million to $99 million.

Barracuda reported revenue of $87.9 million, topping the $85.3 million expected by analysts.

Blackhawk Network Holdings, Inc. (HAWK)

Blackhawk Network Holdings, Inc., which supplies gift cards and prepaid cards, surged 6.8% despite reporting disappointing fiscal third-quarter results.

On an adjusted basis, HAWK said it earned 14 cents per share in the third quarter, well below the 33 cents per share analysts expected. HAWK reported revenue of $168.9 million, while analysts expected $188.6 million. The company forecast full year earnings of $1.45-$1.64 per share on sales of $897 million-$926 million.

Jefferies reiterated a “buy” rating and $43 price target on HAWK today.

Danaher Corporation (DHR)

Industrial conglomerate Danaher Corporation rose nearly 0.6% after news of a small acquisition was viewed favorably by at least one analyst following DHR.

DHR said it is buying closely-held Phenomenex Inc. Phenomenex specializes in applications in drug discovery and development, clinical research, forensic toxicology, petrochemical, environmental analysis and food safety, according to a statement.

Evercore ISI analyst Ross Muken likes the deal for DHR, and he reiterated a “buy” rating and $89 price target on the stock. The analyst estimates DHR paid more than $700 million for Phenomenex, according to Barron’s.

As of this writing, Todd Shriber did not hold a position in any of the aforementioned securities.

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Todd Shriber has been an InvestorPlace contributor since 2014.


Article printed from InvestorPlace Media, https://investorplace.com/2016/10/barracuda-networks-inc-cuda-blackhawk-network-holdings-inc-hawk-danaher-corporation-dhr-3-todays-best-stocks/.

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