Stocks in focus ahead of the closing bell: Fortinet, Manchester United

Yahoo Finance senior reporter Jared Blikre examines trending stocks ahead of Wednesday's closing bell.

Video transcript

- Just a few minutes away from the closing bell. So let's bring in Yahoo Finance's Jared Blikre to break down the market action. What are we seeing, my friend?

JARED BLIKRE: Well, let's talk about some earnings. First up, Fortinet. That begins our journey. Up the most nearly-- up in nearly three years here. That goes back to the beginning of the pandemic. That's after the cybersecurity company delivered better than expected guidance for the year. In an area of cost consciousness now, Fortinet may be bucking the trend of penny pinching. That's what analysts are saying.

Now, take Piper Sandler. They're rating the stock neutral. But they are upping the price target to $64 from $57, saying Fortinet's resilience was on full display, noting the strength of its billings and its forecast. But KeyBank downgraded the stock with no price target on concerns the company's growth is slowly becoming more-- actually, growth is slowing more than expected.

Also checking out Manchester United with just a few seconds to go here. We got some news that a Qatari sport investment company is leading an international investor group to buy either Man U or another Premier League club. Report also noting that this cannot be a full takeover as long as Qatar is involved. It also owns another club. But the scent of M&A is in the air. And the stock is up the most since rumors were flying back in November. That would be right here. And here's the closing bell.