U.S. stock futures were higher this morning, with the Dow futures gaining over 200 points on Wednesday.
Shares of Palo Alto Networks Inc (NASDAQ:PANW) fell sharply in pre-market trading after the company reported second-quarter financial results and issued third-quarter adjusted EPS guidance below estimates. Also, the company lowered its FY26 adjusted EPS guidance below estimates.
Palo Alto reported fiscal second-quarter revenue of $2.59 billion, beating analyst estimates of $2.58 billion. The cybersecurity company posted adjusted earnings of $1.03 per share for the quarter, beating analyst estimates of 94 cents per share, according to Benzinga Pro.
The company lowered its full-year adjusted earnings guidance from a range of $3.80 to $3.90 per share to a new range of $3.65 to $3.70 per share, versus estimates of $3.86 per share.
Palo Alto shares dipped 7.5% to $151.20 in pre-market trading.
Here are some other stocks moving lower in pre-market trading.
- Forge Global Holdings Inc (NYSE:FRGE) shares dipped 25.8% to $32.98 in pre-market trading.
- Similarweb Ltd (NYSE:SMWB) fell 21.8% to $3.05 in pre-market trading after the company reported worse-than-expected quarterly sales results.
- Fiverr International Ltd (NYSE:FVRR) declined 19.7% to $10.52 in pre-market trading after posting weak quarterly sales.
- Axcelis Technologies Inc (NASDAQ:ACLS) declined 13.2% to $85.50 in pre-market trading after the company reported fourth-quarter financial results and issued soft first-quarter EPS guidance.
- Recursion Pharmaceuticals Inc (NASDAQ:RXRX) tumbled 11.8% to $3.05 in pre-market trading.
- MKS Incorporated (NASDAQ:MKSI) fell 8.8% to $239.94 in pre-market trading following fourth-quarter results.
- Northern Dynasty Minerals Ltd (NYSE:NAK) declined 7.8% to $1.87 in pre-market trading.
- Compass Pathways PLC (NASDAQ:CMPS) fell 7.7% to $7.04 in pre-market trading as the company launched a proposed $150.0 million public offering.
- Braiin (NASDAQ:BRAI) fell 7.1% to $20.84 in pre-market trading.
- Applied Digital Corp (NASDAQ:APLD) declined 7% to $31.20 in pre-market trading following a 5% drop in Tuesday.
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