NEW YORK (TheStreet) -- FireEye (FEYE) shares are up 1.5% to $48.40 in after-hours trading on Wednesday after the cybersecurity firm announced a co-development deal with Visa (V) to build tools helping merchants protect against cyber attacks against payment systems.
The two companies announced their joint Community Threat Intelligence (CTI) venture, a first of its kind joint threat information alert that will allow merchants and card issuers quickly detect and respond to attacks against their IT and payment infrastructure.
"The threat environment for merchants is more hostile than we've ever seen - attack groups focused exclusively on stealing consumer data are continuously expanding their operations and employing new techniques - it's a daunting prospect for any merchant whose business could collapse if they lose customer trust," said FireEye CEO David DeWalt.
"By combining Visa's unparalleled view into global payments and FireEye's industry-leading cyber security expertise, we intend to bring faster, actionable intelligence directly to players across the payments system," said Visa CEO Charlie Scharf.
TheStreet Ratings team rates FIREEYE INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate FIREEYE INC (FEYE) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income and feeble growth in its earnings per share."