Cybersecurity
Check Point’s Earnings Beat Signals Cybersecurity Rally Not Over
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Check Point Software Technologies Ltd. is convincing investors their fear of a bubble in cybersecurity stocks is unfounded.
The data protection company’s shares recouped a month’s worth of losses in a single day last week after second-quarter earnings beat estimates, sending them up the most since 2012. Check Point had lost 8 percent in the month through July 20 on concern corporate spending could wane and competition from younger rivals will erode market share.