Thursday, July 28, 2011

Fortinet Rallies On Takeover Speculation

Shares of Fortinet Inc. (NASDAQ: FTNT) rose more than 1% on Thursday on speculation that the company could be a takeover target. Fortinet, Inc. provides network security appliances and unified threat management (UTM) network security solutions to enterprises, service providers, and government entities worldwide. The company recently reported that its second-quarter profit rose to $14.5 million, or 9 cents per share, from $6.9 million, or 5 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 9 cents per share in the latest quarter. Revenue rose 35% to $103.02 million from $76.33 million. Stay tuned for more.

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