Why Palo Alto Networks Stock Fell Tuesday?
Portfolio Pulse from Ryan Gustafson
Palo Alto Networks, Inc. (PANW) shares fell nearly 3% on Tuesday, in sympathy with Oracle (ORCL), which dropped after issuing soft guidance. Oracle reported mixed first-quarter earnings results and expects total revenue to grow between 5% and 7% in the second quarter, which is lower than anticipated.
September 12, 2023 | 8:27 pm
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NEGATIVE IMPACT
Oracle (ORCL) reported mixed first-quarter earnings results and expects total revenue to grow between 5% and 7% in the second quarter, which is lower than anticipated.
Oracle's stock dropped after issuing soft guidance for the second quarter. The company's lower-than-expected revenue growth forecast for the next quarter led to a decrease in its stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Palo Alto Networks, Inc. (PANW) shares fell nearly 3% on Tuesday, in sympathy with Oracle (ORCL), which dropped after issuing soft guidance.
Palo Alto Networks' stock fell due to the disappointing news from Oracle, which impacted software stocks. As Oracle is a major player in the industry, its performance can influence the stock prices of other companies in the sector.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100