DIRS.INFO The most relevant business & tech news

☆ Stocks making the biggest moves after the bell: Cisco Systems, Palo Alto Networks and more
▼ + stars: | 2023-11-15 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Cisco Systems – Shares tumbled nearly 11% after the digital communications company offered worse-than-expected guidance for the current quarter and full year. That pulled attention away from a strong report for the fiscal first quarter, with Cisco beating the consensus forecasts of analysts polled by LSEG on both lines. Maxeon Solar Technologies – Shares slipped 7% after posting a bigger loss than expected in the third quarter. The solar company beat analyst expectations for revenue in the quarter, but issued a weaker-than-anticipated revenue outlook for both the current quarter and full year. While Gambling.com, a review site of gambling services, beat expectations on both lines for the third quarter, it left its full-year expectations unchanged.

Persons: LSEG, Maxeon, Gambling.com Organizations: Cisco Systems, Cisco, Alto Networks, Alto, Maxeon, FactSet Locations: billings

☆ Palo Alto Networks CEO says demand remains high despite quarterly weakness in billings
▼ + stars: | 2023-11-15 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In a Wednesday interview with CNBC's Jim Cramer, Palo Alto Networks CEO Nikesh Arora said demand remains high even though the company issued a weaker billings forecast than expected. The cybersecurity company reported its first-quarter earnings after Wednesday's close, topping Wall Street's revenue targets. However, weak billings guidance caused the stock to slide nearly 6% in after-hours trading. He also suggested billings guidance may not be the most important metric for Wall Street to consider. "Billings is an indicator of revenue in the future, and the better indicator of revenue in the future is RPO, remaining performance obligations, which we grew at 26%."

Persons: CNBC's Jim Cramer, Nikesh Arora, Wednesday's, billings, Arora Organizations: Palo Alto, billings

☆ Palo Alto Networks shares tumble on weak billing guidance
▼ + stars: | 2023-11-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPalo Alto Networks shares tumble on weak billing guidanceTrevor Walsh, JMP Analyst, joins 'Closing Bell Overtime' to talk Palo Alto quarterly results and what to expect from the investor call.

Persons: Trevor Walsh Organizations: Alto Networks, Palo

☆ Palo Alto projects downbeat second-quarter billings, shares fall
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

Nov 15 (Reuters) - Palo Alto Networks (PANW.O) on Wednesday forecast second-quarter billings below market expectations and said its billings were "impacted by the cost of money", sending the cybersecurity company's shares down about 6% after the bell. Santa Clara, California-based Palo Alto forecast second-quarter billings in the range of $2.34 billion to $2.39 billion, compared with analysts' expectations of $2.42 billion, according to LSEG data. The company expects its annual billings to be between $10.7 billion and $10.8 billion, compared with its prior forecast range of $10.9 billion to $11 billion. Palo Alto posted a 20% rise in its first-quarter revenue to $1.88 billion, higher than average analysts' estimate of $1.84 billion. Palo Alto earlier this month announced its intention to buy Israeli startup Talon Cyber Security as it looks to beef up its cyber security offerings to enterprises.

Persons: Fortinet, Zaheer Kachwala, Shilpi Majumdar Organizations: Palo Alto Networks, Palo, Palo Alto, Thomson Locations: billings, Santa Clara , California, Bengaluru

☆ 2 Stanford grads want to replace your beer with cannabis drinks—they’ve already sold 10 million cans
▼ + stars: | 2023-11-14 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Anderson and Bullock refer to it as a "social tonic," or a hangover-free alternative to beer. It's one of the top-selling cannabis beverage brands in the U.S., according to market research firm BDSA. Bullock and Anderson project sales of more than 9 million cans next year — which, with prices starting at $24 per six-pack, would generate at least $36 million in annual revenue. Unsurprisingly, the co-founders say they're well-positioned to fill the void — even as research into cannabis' health effects remains inconclusive. That same year, Constellation Brands, which produces Corona and Modelo beers, invested $4 billion in Canadian cannabis company Canopy Growth.

Persons: Jake Bullock, Luke Anderson, Cann, Anderson, Bullock, haven't, seltzer, MBAs — Anderson, Stanford, misfire, we've Organizations: Los, Anderson, CNBC, Gallup, Cann's, Bain, Co, Harvard University, Stanford University, Constellation Brands, Modelo, Apple Locations: Los Angeles, Canada, U.S, Palo Alto, alma, Colorado, Palo Alto , California, Corona, Florida, Sicily, California

Caesars paid around $15 million in ransom to regain access to its systems from the hackers, according to reporting by the Wall Street Journal. Some have been collecting evidence leading to the hackers' identities and are assisting law enforcement, according to the five insiders. The sources say that, following the September casino hacks, the FBI's investigation took on new urgency. Mandia didn't respond directly when asked whether Scattered Spider's identities were known to law enforcement. But he did say that there was no excuse for not arresting hackers who operated from the West.

Persons: Bridget Bennett, Michael Sentonas, Sentonas, Alphabet's, James Foster, Foster, cybercriminals, gona, Kevin Mandia, Mandiant, you've, Zeba Siddiqui, Raphael Satter, Christopher Bing, Chris Sanders, Claudia Parsons Organizations: MGM, MGM Resorts, REUTERS, FRANCISCO, U.S . Federal Bureau of Investigation, FBI, MGM Resorts International, Caesars Entertainment, Industry, Reuters, Department of Justice, Caesars, Wall Street, Palo Alto Networks, Microsoft, ex, Telegram, Thomson Locations: Las Vegas , Nevada, U.S, WASHINGTON, America, Palo, American, Baltimore , Maryland, United States, Newark , New Jersey, sextortion, San Francisco, Washington

PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance Morgan Stanley named Palo Alto (PANW) its "top pick" ahead of the cybersecurity name's first-quarter earnings release on Wednesday. "Our latest checks largely support a positive view, with partners citing durable demand as customers consolidate on the broader [Palo Alto] platform." Meanwhile, analysts at Cantor Fitzgerald raised their price target for Palo Alto to $280 from $250, a 9.8% upside from the stock's Monday trading level of $255. PG YTD mountain Procter & Gamble (PG) year-to-date performance Jefferies initiated coverage of Procter & Gamble (PG) with a buy rating on shares, citing the company's solid fundamentals and durable earnings stream. Moreover, Procter & Gamble sells the kinds of staples consumers will buy even when budgets are stretched as their are few alternatives.

Persons: Morgan Stanley, Palo, billings, Hamza Fodderwala, Cantor Fitzgerald, we've, Edward Jones, Jefferies, Gamble, Jim Cramer's, Jim Cramer, Jim Organizations: Palo Alto Networks, Palo Alto, Oracle, Nvidia, Microsoft, Constellation, Jefferies, Constellation Brands, Management, Procter & Gamble, Procter, Gamble, CNBC, New York Stock Exchange, NYSE Locations: Palo, Alto

☆ Workers at these 15 companies are happiest with their pay, says new report
▼ + stars: | 2023-11-12 | by ( Jennifer Liu | In Jljenniferliu | ) www.cnbc.com time to read: +4 min

Even so, they remain some of the top companies where employees feel happiest with their pay. 1 spot where workers felt happiest with their pay, according to the analysis. Overall, Herring points out, many tech companies, and especially cybersecurity firms, scored highly on the compensation analysis. 5, respectively), but they remain in the top 15 companies where workers are satisfied with their pay. While workers may feel satisfied with their compensation there, the two tech giants did not fall into the top 100 companies with the happiest workers overall.

Persons: they're, Chad Herring, Herring, Uber —, Warren Buffett Organizations: Big Tech, Boston, Palo Alto, SAP, Google, Boston Consulting, Workers, Employees, Adobe Locations: Palo, California

☆ Earnings playbook: How to trade the biggest reports this week, including retail giant Walmart
▼ + stars: | 2023-11-12 | by ( Fred Imbert | ) www.cnbc.com time to read: +4 min

Investors will get a glimpse this week on the state of the consumer with a slew retail companies slated to report earnings. Tuesday Home Depot is set to report earnings before the open, followed by a call at 9 a.m. What history shows: Bespoke data shows Target beats earnings expectations 65% of the time. What to watch: Walmart is riding high, with the stock reaching an all-time high last week on bets of a strong holiday season for the retail giant. What history shows: Walmart was higher in four of the last five earnings days, Bespoke data shows.

Persons: Seth Sigman, Brian Cornell, Michael Lasser, PANW, Hamza Fodderwala, Morgan Stanley, billings, WMT, Oppenheimer, Rupesh, — CNBC's Michael Bloom Organizations: Walmart, Home Depot, CNBC, Tuesday, LSEG, Depot, Federal Reserve, Barclays, Investment, UBS, Palo Alto Networks, Management

☆ What we'd like to see from 3 economic readings and 2 earnings reports next week
▼ + stars: | 2023-11-11 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The major averages advanced again this week as earnings results came in largely better than expected, interest rates stabilized and oil prices dropped below $80 a barrel. Looking ahead, we'll get a couple more earnings results and some key inflationary data to chew on. In this past week, we bought 150 shares of DuPont (DD) and added 75 shares of Wynn Resorts (WYNN). As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Stocks, Wynn Resort's, WYNN, we'll, That's, —, we're, it's, PANW, Tyson, Henry Schein, Spero, Sanara, Sara Lee Corp, JD.com, Woodward, Jim Cramer's, Jim Cramer, Jim, Mario Anzuoni Organizations: Nasdaq, Dow Jones, Coterra Energy, Emerson, Disney, PPI, TJX, Palo Alto Networks, DuPont, Wynn Resorts, WYNN, Tyson Foods, TSN, Tower Semiconductor, Partners, Genius Sports, Spero Therapeutics, Star Bulk Carriers Corp, Beauty Health, Asure, Gladstone Capital Corp, TeraWulf Inc, Harrow Health, Afya, Sea, Paysafe Group Holdings, Solar Inc, Aramark Holdings Corp, Lending, Holding, BioXcel Therapeutics, IHS Inc, Rewalk Robotics, Acurx Pharmaceuticals, Energizer Holdings, Power Solutions, Rekor Systems, Wine Estates, Momentus Inc, SIGMA Lithium Corporation, AlTi, QuickLogic Corporation, Arcturus Therapeutics, Dada Nexus, Solutions, Target Corp, Parts, ZIM Integrated Shipping Services, Alto Networks, Cisco Systems, Chemical & Mining Co, PennantPark Investment Corp, Copa Holdings S.A, Walmart, Arcos Dorados Holdings, ARCO, NICE, Body, Warner Music Group Corp, Ross Stores, Homes, Dolby Laboratories Inc, American Software, ESCO Technologies, ZTO, International, BJ's Wholesale, Jim Cramer's Charitable, CNBC, Maxx Locations: Macau, Chile, Cayman, Pasadena , California

☆ Lightning Round: Uber and DoorDash posted amazing numbers, says Jim Cramer
▼ + stars: | 2023-11-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: Uber and DoorDash posted amazing numbers, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stocks including: AMD, Teladoc, Palo Alto Networks, SoFi, Uber, EQT and more.

Persons: DoorDash, Jim Cramer, SoFi Organizations: AMD, Palo Alto Networks Locations: Palo

☆ Cramer's Lightning Round: Uber is a buy
▼ + stars: | 2023-11-10 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

Stock Chart Icon Stock chart icon Advanced Micro Devices' year-to-date stock performance. Stock Chart Icon Stock chart icon Teladoc's year-to-date stock performance. Stock Chart Icon Stock chart icon EQT's year-to-date stock performance. Uber : "[Buy, buy, buy!] Stock Chart Icon Stock chart icon SoFi's year-to-date stock performance.

Persons: Howard Hughes, Jim Cramer's Organizations: Devices, Palo Alto Networks Locations: DoorDash

☆ Wall Street will seek confirmation the Fed is done in next week's big inflation data
▼ + stars: | 2023-11-10 | by ( Sarah Min | ) www.cnbc.com time to read: +6 min

Economists polled by FactSet expect U.S. inflation to have risen just 0.1% last month and 3.3% from the year-ago period. Cracks in consumer data Investors will also watch for the October retail sales data for insight into the consumer, who has thus far proven resilient even in the face of higher interest rates and inflation. Investors will also be watching for the October producer price index (PPI) data on Wednesday, as well as housing data on Friday. Monday Nov. 13 Earnings: Tyson Foods Tuesday Nov. 14 8:30 a.m. CPI (October) 8:30 a.m. Hourly Earnings final (October) 8:30 a.m. Average Workweek final (October) Earnings: Home Depot , Charles Schwab Wednesday Nov. 15 8:30 a.m.

Persons: Amy Magnotta, It's, There's, Gregory Daco, he'll, Ned Davis Research's, Joe Kalish, NDR's Kalish, Jeff Klingelhofer, Magnotta, Tyson, Charles Schwab, John Williams Organizations: Federal, Dow Jones Industrial, Nasdaq, Federal Reserve, Ategenos, FactSet, Thornburg Investment Management, Walmart, CPI, PPI, Retail, Palo Alto Networks, Price, Philadelphia Fed, Manufacturing, . New York Federal Reserve, . Kansas City Fed Manufacturing, Ross Stores, Body, Housing Locations: . New, NAHB, . Kansas, Bath

☆ Why Cramer would be an 'aggressive buyer' of Coterra Energy
▼ + stars: | 2023-11-10 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. "I do think this rally is real," Jim Cramer said Friday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Bond, Morgan Stanley, Morgan Stanley's, Jim, Thomas Jorden, Jim Cramer's Organizations: CNBC, Nasdaq, Treasury, West Texas, Palo Alto Networks, Palo, Coterra Energy, repricing Locations: billings, Alto

☆ Cramer's Lightning Round: 'Do not touch' UiPath
▼ + stars: | 2023-11-08 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon Fortinet's year-to-date stock performance. Stock Chart Icon Stock chart icon UiPath's year-to-date stock performance. Stock Chart Icon Stock chart icon Prudential's year-to-date stock performance. Stock Chart Icon Stock chart icon Textron's year-to-date stock performance. Stock Chart Icon Stock chart icon Target's year-to-date stock performance.

Organizations: Palo Alto Networks, Prudential, Diageo, Textron Locations: Fortinet, Palo Alto

☆ 18-year-old got hired as a Google engineer—his dad shares his No. 1 parenting rule: I take a 'hands off approach'
▼ + stars: | 2023-11-08 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

Stanley Zhong isn't your typical 18-year-old. In stepped Google, which offered Zhong a job as an L4 software engineer, one rung above entry level. And while the offer may have been surprising, especially considering the job title, one person says he wasn't shocked: Stanley's father, Nan Zhong. "And along the way, he gave me enough shocks that I was no longer shocked [when he got the Google job]. And that led to his Google job," Nan says.

Persons: Stanley Zhong, Zhong, wasn't, Nan Zhong, I've, Nan, He's, —, Stanley, that's, Henry M, Nan Zhong Nan, Nan didn't, Richard Wiseman Organizations: Gunn High School, MIT, Stanford, Google, University of Texas, CNBC, Washington State Championship, Amazon Web Services, Amazon AWS, University of Hertfordshire Locations: Palo Alto , California

☆ Tesla is hiring a bunch of designers so it can start selling humanoid robots by 2027
▼ + stars: | 2023-11-07 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +3 min

Elon Musk's desire to launch Tesla's humanoid robot, Optimus, by 2027 may be closer to reality. Tesla's website shows more than 50 adverts for roles with Tesla Bot in the title. AdvertisementAdvertisementElon Musk has high aspirations for Tesla's humanoid robot, Optimus. Some of the roles listed, which are to be based in Palo Alto, California, include "Humanoid Controls Engineer, Tesla Bot," "Systems Design & Integration Engineer, Tesla Bot," and various other Tesla Bot engineers. But with some US-based competitors already testing humanoid robots in warehouses, Tesla may have some catching up to do.

Persons: Elon, Tesla, —, Elon Musk, Musk, Optimus, Apptronik, Jeff Cardenas Organizations: Service, Optimus, NASA, Robotics Locations: Palo Alto , California, . Texas, Oregon, Seattle

☆ We're thinking about buying more shares in these 3 companies. Here's our internal debate
▼ + stars: | 2023-11-06 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

PANW YTD mountain Palo Alto Networks YTD Shares of Palo Alto Networks dropped another 4% on Monday, adding to Friday's more than 2.5% decline on Fortinet's disappointing full-year guidance. Investors were making assumptions about what Fortinet's concerns might mean for Palo Alto. In August , we told members to pick up shares of Palo Alto, which were down then, like now, on comments from Fortinet's management team. HUM YTD mountain Humana YTD Humana is another name whose stock price action simply does not reflect the fundamentals we saw in the company's most recent earnings report , out last Wednesday. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

Persons: Palo, That's, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: DuPont, Palo Alto Networks, Caterpillar, Palo, U.S ., Humana, CNBC, Traders, New York Stock Exchange, Getty Locations: overbought, Palo, Palo Alto, Tenable, New York City

☆ Palo Alto Networks intends to buy startup Talon Cyber
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +1 min

Nov 6 - Palo Alto Networks (PANW.O) said on Monday it intends to buy Israeli startup Talon Cyber Security, as it looks to beef up its cyber security offering to enterprises. Founded in 2021, Talon provides secure browser and security tools to manage access to client servers from third-party and personal devices. The acquisition proposal follows a series of investments by Palo Alto in Israeli firms, which includes various buyouts of local companies since 2012. Most recently, it agreed to acquire Israeli cloud security startup Dig Security for an undisclosed amount. Talon's CEO Ofer Ben-Noon described Palo Alto as an "ideal partner," according to the press release.

Persons: Ofer Ben, Talon, George Kurtz, Arsheeya, Shweta Agarwal Organizations: Palo Alto Networks, Talon, Palo Alto, Security, Evolution Equity Partners, Thomson Locations: Alto, Tel Aviv, Bengaluru

☆ Israel’s cyber defense chief tells CNN he is concerned Iran could increase severity of its cyberattacks
▼ + stars: | 2023-11-06 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +8 min

So far, suspected Iranian hackers appear to have had minimal impact on their publicly claimed targets in Israel in the last month. But Portnoy said those hackers have been relatively quiet in the latest Israel-Hamas war (Israeli airstrikes have decimated internet infrastructure in Gaza.) “There is a gap between their [cyber] capabilities and their rhetoric,” the official told CNN, referring to Iran-backed hackers. “Even the successful, real cyberattacks are probably not going to be about the actual attack,” John Hultquist, Mandiant’s chief analyst, told CNN. This campaign is “maybe the most sophisticated we have seen from Iran on a technological level,” Sergey Shykevich, threat intelligence group manager at Check Point, told CNN.

Persons: “, ”, Gaby Portnoy, ” Portnoy, Portnoy, –, Christopher Wray, ” Wray, ” Eric Goldstein, CrowdStrike, ” John Hultquist, “ It’s, Solomon, Israel, Adam Meyers, CrowdStrike’s, ” Meyers, Sergey Shykevich Organizations: CNN, Israel National Cyber Directorate, Lebanese, Hezbollah, Palo Alto Networks, Hamas, Infrastructure Security Agency, FBI, Boston Children’s Hospital, ” CNN, Iranian, United Nations, “, Islamic Revolutionary Guard Corps Locations: Iran, Israel, Saudi Arabia, East, Iranian, Syria, Iraq, Tehran, –, Palo, Gaza, Palestine, China, Russia

CNN —At least five possible hate crime incidents at Stanford University since the Israel-Hamas war’s onset are under investigation, including an apparent hit-and-run crash involving an Arab Muslim student, according to the university’s public safety department. The California Highway Patrol, which investigates all injury traffic incidents on campus, is investigating the hit-and-run as “a potential hate crime,” according to the release. This incident is being investigated by the Department of Public Safety as a crime motivated by hate,” a message on the site read. School authorities say the second student also allegedly said “disgusting” before attempting to spit at the student by the display. The university said its public safety officials are also looking into the incident as a hate-motivated crime.

Persons: “, ’, Richard Saller, Jenny Martinez, “ Stanford Organizations: CNN, Stanford University, Stanford Department of Public Safety, Patrol, Toyota, Stanford, Islamic, San Francisco, California, Department of Public Safety, Palo Alto, tote Locations: Israel, California, San Francisco Bay, Palestine

☆ Fortinet, rivals tumble as dour forecast signals slowing cybersecurity spending
▼ + stars: | 2023-11-03 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Fortinet (FTNT.O) sank 23% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. Growth is also slowing in some parts of the company's business as demand normalizes after two years of rapid growth during the pandemic. Overall, five brokerages downgraded the company and at least 14 analysts cut their price targets, pushing the median to $60, LSEG data showed. It currently trades at nearly 33 times its 12-month forward earnings estimates, compared with Palo Alto's 44.6 and CrowdStrike's 54.5.

Persons: Dado Ruvic, Raymond James, Keith Jensen, Samrhitha Organizations: REUTERS, Palo, Thomson Locations: Palo Alto, Bengaluru

☆ A timeline of Sam Bankman-Fried trial: Key moments leading up to FTX founder's conviction
▼ + stars: | 2023-11-03 | by ( Luc Cohen | Thomson Reuters | Reports On The New York Federal Courts. Previously Worked As A Correspondent In Venezuela | ) www.reuters.com time to read: +5 min

Indicted FTX founder Sam Bankman-Fried leaves the United States Courthouse in New York City, U.S., July 26, 2023. MAY 2019Bankman-Fried and former Google employee Gary Wang found FTX as a new platform to trade crypto tokens and derivatives. Bankman-Fried debuts on the Forbes billionaires list, which estimates his net worth at $22.5 billion. Alameda gives crypto lender Voyager Digital a $200 million credit facility, and FTX gives lender BlockFi a $250 million loan. In a post-arrest blog post, Bankman-Fried denies stealing funds and blames FTX's collapse on a broader downturn in crypto markets.

Persons: Sam Bankman, Fried, Amr Alfiky, Gary Wang, Larry David, CoinDesk, Binance, FTX, Changpeng Zhao, David, Tom Brady, Wang, Caroline Ellison, District Judge Lewis Kaplan, Nishad Singh, Kaplan revokes, Luc Cohen, Noeleen Walder, Daniel Wallis Organizations: United, REUTERS, Massachusetts Institute of Technology, Jane Street Capital, Alameda Research, Google, Forbes, Alameda, NFL, DEC, U.S, District, New York Times, Metropolitan Detention Center, Thomson Locations: New York City, U.S, Alameda, Bahamas, Manhattan, United States, Palo Alto , California, New York

☆ Fortinet, rivals fall on concerns around cybersecurity spending
▼ + stars: | 2023-11-03 | by ( Samrhitha A | ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 3 (Reuters) - Fortinet (FTNT.O) sank nearly 18% and sparked a selloff in cybersecurity stocks with a dismal forecast that compounded fears of slowing client spending in an uncertain economy. The current losses, if they hold, were set to wipe out nearly $8 billion from the company's market value. Fortinet cut its annual revenue target on Thursday and said it expects current-quarter sales between $1.38 billion and $1.44 billion, below estimates of $1.50 billion, LSEG data showed. Overall, eight brokerages downgraded the company and at least 18 analysts cut their price targets, pushing the median to $59, LSEG data showed. Fortinet shares have risen nearly 18% this year.

Persons: Dado Ruvic, Raymond James, Keith Jensen, Samrhitha, Sriraj Kalluvila Organizations: REUTERS, Competition, Palo, Thomson Locations: Palo Alto, Fortinet, Bengaluru

☆ Jim Cramer blasts warnings from a competitor, says buy cybersecurity leader Palo Alto Networks
▼ + stars: | 2023-11-03 | by ( Morgan Chittum | ) www.cnbc.com time to read: +8 min

Despite doom-and-gloom from a competitor around cybersecurity spending, Jim Cramer said Friday that it's the perfect time to buy industry leader Palo Alto Networks (PANW), considering the onslaught of recent high-profile hacks and breaches. PANW YTD mountain Palo Alto Networks (PANW) year-to-date performance In fact, companies need the services of cybersecurity specialists, Palo Alto, more than ever nowadays. On Oct. 20 , identity management company Okta (OKTA) said its support systems were hacked. Cramer said Palo Alto Networks stands to benefit. Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021.

Persons: Jim Cramer, Fortinet, —, Jim, there's, Estee Lauder, we've, Tracey Thomas Travis, Linda Rendle, Cramer, Needham, Jim Cramer's, David Paul Morris Organizations: Palo Alto Networks, Palo, Boeing, Palo Alto, CNBC, Bloomberg, Getty Locations: Palo Alto, Fortinet, Alto, Palo, Las Vegas, cybersecurity, Santa Clara , California, U.S

Search resuls for: "Palo Alto"

25 mentions found