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2 Stocks Move Monday

Shares of Check Point Software Technologies Ltd. (NASDAQ:CHKP) fell more than 1% on Monday after it reported third-quarter revenue of $491 million and earnings of $1.44 per share. It beat analysts' earnings estimates by 4 cents, while revenue was in line with expectations.

"During the third quarter, our security subscriptions continued to drive results with 13 percent growth. This was underscored by expanded customer adoption of our cloud solutions," CEO Gil Shwed said.


The GAAP operating income for the quarter was $214 million, down from $226 million in the prior-year quarter. The Non-GAAP operating income was $246 million, down from $250 million.

Further, the cash flow from operations was $244 million, compared to $249 million in the year-ago quarter.

Moreover, during the quarter, the company repurchased approximately 2.9 million shares at a total cost of $323 million.

Looking ahead to the fourth quarter, the company expects earnings per share of $1.97 on $543.49 million in revenue.

During the second quarter, Paul Tudor Jones (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) opened new positions in the stock with 43,877 and 266,148 shares, respectively. On the other hand, Ken Fisher (Trades, Portfolio) reduced his holding by 0.3% to 28,125 shares, while Jim Simons (Trades, Portfolio) curbed his position by 87% to 60,008 shares.

Shares of AT&T Inc. (NYSE:T) gained more than 4% on Monday after the company posted third-quarter results. Revenue declined 2.5% from the prior-year quarter to $44.58 billion, falling $490 million short of analysts' expectations. Earnings of 94 cents per share beat estimates by 2 cents.

The operating income was $7.9 billion, up from $7.3 billion in the year-ago quarter.

Looking at the cash generation, cash from operating activities was $11.4 billion and capital expenditures were $5.2 billion, while the free cash flow was $6.2 billion.

Looking ahead to 2020, the company expects revenue growth to be about 1% to 2%. Further, it projects adjusted earnings per share between $3.60 and $3.70 and free cash flow of about $28 billion.

During the quarter ended June 30, Ken Fisher (Trades, Portfolio) increased his holding by 29% to 99,636 shares, while Mario Gabelli (Trades, Portfolio) reduced his stake by 2% to 1,647,346 shares and Ray Dalio (Trades, Portfolio) curbed his position by 89% to 96,235 shares.

Disclosure: The author holds no position in any stocks mentioned.

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This article first appeared on GuruFocus.