Why Check Point Software Stock Dived by Almost 15% Today

Wednesday was an eventful day for Check Point Software Technologies (NASDAQ: CHKP). The company published its latest quarterly earnings report, but this was overshadowed by a big-ticket buyout of a peer company in its native Israel.The latter was dismaying for Check Point investors, and many sold out of the stock. It ended up closing nearly 15% lower in price, for a much steeper tumble than the S&P 500 index's 0.1% slip.In a way, the market's punishment of Check Point was undeserved, because that report wasn't bad at all. The veteran cybersecurity company's second quarter saw it increase total revenue by 6% year-over-year to $665 million, accompanied by a 4% advance in "calculated" billings -- total revenue plus the change in deferred revenue -- to $642 million. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool