{"id":140,"date":"2023-09-21T21:32:48","date_gmt":"2023-09-21T21:32:48","guid":{"rendered":"https:\/\/pakstne.com\/blog\/stocks-rise-after-extraordinary-friday-night-earnings-business-investor-daily\/"},"modified":"2023-12-24T18:36:06","modified_gmt":"2023-12-24T18:36:06","slug":"stocks-rise-after-extraordinary-friday-night-earnings-business-investor-daily","status":"publish","type":"post","link":"https:\/\/pakstne.com\/blog\/stocks-rise-after-extraordinary-friday-night-earnings-business-investor-daily\/","title":{"rendered":"Stocks Rise After Extraordinary Friday Night Earnings |  Business Investor Daily"},"content":{"rendered":"<div>\n<p><strong>Palo Alto Networks<\/strong> (<a rel=\"nofollow noopener\" target=\"_blank\" class=\"ticker\" href=\"https:\/\/research.investors.com\/quote.aspx?symbol=PANW\">Banu<\/a>) posted quarterly profits that beat expectations, the cybersecurity firm said in a press release issued late Friday, raising eyebrows about its timing.  Palo Alto stock popped up in after-hours trading.<\/p>\n<p><span><br \/>\n<span style=\"width:50%;\" class=\"video-player-container vms-left\"><br \/>\n<span class=\"shortcode-video\" data-nosnippet=\"true\" vid-id=\"8596133\" vid-dom-id=\"8596133-64dfe37eb9c5e\" vid-top=\"false\" vid-repeat=\"1\" vid-width=\"50\" vid-url=\"https:\/\/content.jwplatform.com\/manifests\/HeseFhOG.m3u8\" jw-video-key=\"HeseFhOG\" data-captions=\"({&quot;name&quot;:&quot;english&quot;,&quot;url&quot;:&quot;https:\\\/\\\/content.jwplatform.com\\\/tracks\\\/KSB1kOJ1.srt&quot;})\" vid-name=\"Stocks Bounce Off Friday Lows, But Market In Correction; DO, BA, GOOGL In Focus\" vid-cat=\"Stock Market Today\" vid-date=\"08\/18\/2023\" vid-date-tmsp=\"1692365757\" vid-image=\"https:\/\/www.investors.com\/wp-content\/uploads\/2023\/08\/HeseFhOG-640x360.jpg\" vid-authors=\"ALISSA CORAM, ED CARSON\"><br \/>\n<span class=\"close-mini-vid\">X<\/span><br \/>\n<span id=\"shortcode-video-player-8596133-64dfe37eb9c5e\" class=\"ready-to-load\"\/><br \/>\n<\/span><br \/>\n<\/span><br \/>\n<\/span><\/p>\n<p>The unusual decision to release fiscal fourth-quarter earnings after the market closed on the last trading day of the week sparked concern on Wall Street leading up to the release.  A potential offset to those concerns: Palo Alto reported earnings of $1.44 per share on revenue of $1.95 billion for the fiscal fourth quarter ended July 31st.<\/p>\n<p>Analysts had expected earnings of $1.29 per share on revenue of $1.96 billion, according to a survey by FactSet.<\/p>\n<p>PANW stock jumped nearly 9% in after-market trading on Friday.<\/p>\n<p>The company also released its outlook for fiscal 2024, projecting sales of $8.15 billion to $8.2 billion for the 12 months ending in July.  Analysts called for revenue of $8.4 billion.<\/p>\n<h2>Palo Alto Stock: This month&#8217;s drop<\/h2>\n<p>Prior to its earnings release, PANW stock closed up about 1% in the stock market today but is down about 16% since the company reported its August 2 earnings date.  beginning of the month.<\/p>\n<p>This is the first time the S&#038;P 500 has released after-market earnings on a Friday in nearly three years, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.marketwatch.com\/story\/why-is-palo-alto-networks-reporting-earnings-friday-afternoon-the-strange-timing-draws-speculation-7f557bb1\">market surveillance<\/a>.<\/p>\n<p>Palo Alto stock has come under more competitor pressure <strong>fortinet<\/strong> (<a rel=\"nofollow noopener\" target=\"_blank\" class=\"ticker\" href=\"https:\/\/research.investors.com\/quote.aspx?symbol=FTNT\">FTNT<\/a>announced that quarterly earnings had just missed the mark on Aug. 3.<\/p>\n<p>The unusual earnings timing &#8212; paired with Palo Alto telling analysts to expect a two-hour earnings call &#8212; has fueled quite a bit of speculation about what the company will say.<\/p>\n<h2>&#8220;The sky&#8217;s the limit&#8221; on the results<\/h2>\n<p>&#8220;The sky&#8217;s the limit as to potential outcomes,&#8221; Stifel analyst Adam Burg wrote in a note to clients Monday.<\/p>\n<p>Because of this, analysts will listen closely to what the company has to say during the earnings call.<\/p>\n<p>Palo Alto stock ranks among the top 35 companies in the computer software security group, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/research.investors.com\/stock-checkup\/nasdaq-palo-alto-networks-panw.aspx\">IBD stock check<\/a>.  Stock is strong <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/research.investors.com\/stock-quotes\/nyse-sea-adr-se.htm\">IBD composite classification<\/a> of 98, and a relative strength rating of 90.<\/p>\n<p>More is coming.<\/p>\n<p><strong>You may also like:<\/strong><\/p>\n<p>How to use the 10-week moving average to buy and sell<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/shop.investors.com\/offer\/splashresponsive.aspx?id=newsletters-howtoinvest\">Get free newsletters from IBD: Market Prep |  Technical report |  how to invest<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Palo Alto Networks (Banu) posted quarterly profits that beat expectations, the cybersecurity firm said in a press release issued late Friday, raising eyebrows about its timing. Palo Alto stock popped&#8230; <\/p>\n","protected":false},"author":1,"featured_media":141,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.7 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Stocks Rise After Extraordinary Friday Night Earnings | Business Investor Daily<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pakstne.com\/blog\/stocks-rise-after-extraordinary-friday-night-earnings-business-investor-daily\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stocks Rise After Extraordinary Friday Night Earnings | Business Investor Daily\" \/>\n<meta property=\"og:description\" content=\"Palo Alto Networks (Banu) posted quarterly profits that beat expectations, the cybersecurity firm said in a press release issued late Friday, raising eyebrows about its timing. 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