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Why FireEye (FEYE) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of FireEye  (FEYE - Get Report) rose 8.09% to $33.66 in late afternoon trading on Tuesday after news broke that Home Depot  (HD) may have suffered a major credit card breach.

"Multiple banks say they are seeing evidence that Home Depot stores may be the source of a massive new batch of stolen credit and debit cards that went on sale this morning in the cybercrime underground," KrebsonSecurity.com reported. "Home Depot says that it is working with banks and law enforcement agencies to investigate reports of suspicious activity."

The news sent cyber security stocks higher in Tuesday trading. FireEye rose on high volume, as more than 15 million shares had changed hands, nearly triple the average volume of 5,452,830. Fortinet  (FTNT) also hit a new 52-week high of $26.64.

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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