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Why FireEye Stock Just Popped 8%

Why FireEye Stock Just Popped 8%

Despite an analyst downgrade, shares of FireEye (NASDAQ: FEYE) were surging strongly in afternoon trading on the Nasdaq Friday. As of 2 p.m. EST, the stock was up 7.6% -- mainly on news released Thursday that a Blackstone (NYSE: BX) fund had made a $400 million strategic investment in the cybersecurity company. At 4:01 p.m. EST Thursday, just after the close of trading, FireEye announced that Blackstone Tactical Opportunities is partnering with cybersecurity-focused investment firm ClearSky to buy $400 million worth of 4.5% Series A Convertible FireEye preferred stock.