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Cyber Insecurity Hits FireEye and Imperva as Their Stocks Get Crushed

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Cyber security shops FireEye (FEYE - Get Report) and Imperva (IMPV - Get Report) are being rocked on Friday trading, following their first-quarter earnings reports.

FireEye missed first-quarter revenue forecasts after the close Thursday, and said that Chairman and CEO Dave DeWalt will leave his post to become Executive Chairman in June. Kevin Mandia, who sold his company Mandiant to FireEye for $1 billion in 2014, will become CEO.

"As the founder of [FireEye]'s highly regarded Mandiant incident response unit, Mr. Mandia is very well-respected," Wells Fargo analyst Gray Powell wrote in a report. "Given his background, we think his transition into the CEO should be a relatively smooth one."

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First-quarter sales of $168 million missed forecasts of $171.7 million, though a loss of 47...


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