FireEye Up 15% After Q1 Beat And Raise

FireEye Inc FEYE shares are trading higher by $1.86 (15.5 percent) at $14.07 in Wednesday's session.

The catalyst for the rally is a Q1 EPS beat of $0.10 along with a sales beat of $10 million. The company raised Q2 and FY 2017 guidance for EPS and sales.

See Also: Exclusive: FireEye Management Boast Turnaround In Operating Margins

After a much higher open, FireEye's stock had a $0.20 retreat to $13.80 before continuing its move higher. The ensuing rally has taken it to $14.52. That level is just shy of its November high of $14.69. In pre-market trading, the stock traded up to $14.85.

Since making its intraday, the stock has been drifting back towards the low for the day as the 15 percent leap overnight has attracted some profit-takers. Keep in mind, the stock bottomed in March at $10.35; it has rallied 35 percent since March 9.