Comcast shares close lower on Monday, company acquires cybersecurity technology developer BluVector

Comcast Corp (CMCSA) said on Monday that it had acquired BluVector, a firm using advanced artificial intelligence and machine learning to provide cybersecurity protection to corporate entities and government agencies. However, financial details of the agreement remained undisclosed.

Comcast shares closed lower for the fourth time in the past twelve trading sessions on NASDAQ on Monday. It has also been the steepest daily loss since February 11th. The stock went down 0.95% ($0.37) to $38.73, after touching an intraday low at $38.39, or a price level not seen since February 27th ($38.39).

Shares of Comcast Corp have risen 13.74% so far in 2019 compared with an 11.41% gain for the benchmark index, S&P 500 (SPX).

In 2018, Comcast’s stock went down 14.98%, thus, it underperformed the S&P 500, which registered a 6.24% loss.

By using a proprietary machine-learning engine, BluVector detects, analyzes and contains a range of sophisticated cyber-threats such as “fileless malware”, zero-day malware and ransomware.

“BluVector is a global leader in leveraging AI and machine learning to defend against advanced cyber threats,” Don Mathis, General Manager, Growth at Comcast, said in a statement.

“We’re thrilled that BluVector is part of Comcast and are excited to support its continued growth, even as we explore new opportunities to leverage BluVector technology and expertise,” Mathis added.

At the same time, BluVector said that it had appointed Eric Malawer as its new Chief Executive Officer.

Malawer, who has a vast experience in data analytics, artificial intelligence, national intelligence and digital security, previously was cybersecurity staff director for the House Committee on Homeland Security.

Meanwhile, Kris Lovejoy, the founding CEO of BluVector, who recently departed from the company, is to continue serving as a consultant to BluVector and Comcast, the companies said.

According to CNN Money, the 29 analysts, offering 12-month forecasts regarding Comcast Corporation’s stock price, have a median target of $44.00, with a high estimate of $50.00 and a low estimate of $39.00. The median estimate represents a 13.61% upside compared to the closing price of $38.73 on March 4th.

The same media also reported that 21 out of 33 surveyed investment analysts had rated Comcast Corporation’s stock as “Buy”, while 8 – as “Hold”.

Weekly Pivot Levels

By using the traditional method of calculation, the weekly levels of importance for Comcast Corporation (CMCSA) are presented as follows:

Central Pivot Point – $38.97
R1 – $39.64
R2 – $40.17
R3 – $40.84
R4 – $41.50

S1 – $38.44
S2 – $37.77
S3 – $37.24
S4 – $36.70