Palo Alto Networks (PANW, $235.55) rallies on...

Abhoy Sarkar

published in Blogs

Feb 27, 2019

Palo Alto Networks (PANW, $235.55) rallies on higher-than-expected fiscal Q2 earnings and $1 billion stock buyback plan

Palo Alto Networks reported better-than-expected earnings for the fiscal second quarter, and also announced a stock buyback program - leading to its shares jumping +11% in after-hours trading Tuesday.

The cybersecurity company raked in adjusted earnings of $1.51 per share in the three months ending January, beating analysts’ estimates of $1.22 per share (based on Refinitiv data). Quarterly revenue of $711.2 million came in higher compared to analysts’ expected $682 million ((based on Refinitiv data). That marks a +30% year-over-year surge in revenue for the quarter. Product revenues, grew +33% to $271.6 million, while those from services increased +29% to $439.6 million.

Palo Alto also announced that its board authorized up to $1 billion in share repurchases, and introduced its Cortex AI-based security platform.

The company is apparently gung-ho in bolstering its cloud solutions and cyber security business. Last week, it announced its $560 million acquisition of Demisto, a startup specializing in security orchestration, incident management and interactive investigation.

For the fiscal third quarter, Palo Alto projects adjusted earnings in the range of $1.23 to $1.25 per share. It expects revenue to be in the range of $697 million to $707 million for the quarter - that puts the midpoint at $702 million, which is higher than the $696.7 million FactSet estimate.

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Sergey Savastiouk

published in Blogs

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If the stock market were Major League Baseball, hedge funds and institutional investors would be the pros on championship teams while everyday self-directed investors (SDIs) are the benchwarmers in the minors.It’s how they get ahead, and it’s why 90% of SDIs lose money trying to play (invest and trade) in the major leagues. The 4 tricks we discuss below are rooted in one common theme: they all use Artificial Intelligence and algorithms to generate data and ideas.

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published in Blogs

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Sergey Savastiouk

published in Blogs

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Edward Flores

published in Blogs

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How to Become the Millionaire Next Door

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published in Blogs

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Is Ethereum’s Bomb about to Explode?

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Sergey Savastiouk

published in Blogs

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When Is the Next Recession Coming?

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Abhoy Sarkar

published in Blogs

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Central banks have been buying $2.4 billion in assets every hour for the past two months

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published in Blogs

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Sergey Savastiouk

published in Blogs

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How to Start Trading Penny Stocks

Penny stocks have long been marginalized within the professional investment community, oftentimes being painted with a broad brush of simply being “too risky.” Leonardo DiCaprio’s depiction of the penny stock peddling conman, Jordan Belfort, in the Wolf of Wall Street certainly didn’t help.Here are four reasons to start trading them now. Reason #1: Let’s State the Obvious -- Penny Stocks are Cheap A single share of Apple Inc. costs over $350.

Abhoy Sarkar

published in Blogs

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US unemployment rate jumps to 14.7%, the highest in series history

The U.S. economy’s employment fell by -20.5 million in April. The coronavirus crisis led to unemployment rate soaring to 14.7% in the U.S, the highest rate in the Bureau of Labor Statistics-tracked series history that goes back to 1948. However, the figures were better compared to several economists'/analysts' forecasts of 22 million job losses and 16% unemployment rate. Another unemployment measure that includes those who have stopped looking for work as well as those holding part-time jobs for economic reasons also touched an all-time high of 22.8%.