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Palo Alto Networks stock jumps on earnings, guidance

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Shares of Palo Alto Networks (PANW) jumped in after-hours trading. The cybersecurity company reported fiscal fourth adjusted quarter earnings that handily beat Wall Street estimates, while revenue was just shy of expectations. The company also issued upbeat full-year guidance. Constellation Research Founder Ray Wang says the company is 'doing well' but 'the challenge is the macro-environment. Budgets are being re-directed from cybersecurity to AI.' Wong says Palo Alto is benefiting from putting 'the best portfolio in the marketplace for customers to buy so that they don't have to go to all these different point solutions.' However, Wong thinks the stock is going to be 'challenged for the rest of the year' due to companies shifting their spending to AI.

Alimentation Couche-Tard stock is a convenient growth stock for the ages! The post This Hot Growth Stock Is Still a Buy After Enormous Gains appeared first on The Motley Fool Canada.STORY: Chinese developer Evergrande has filed for bankruptcy protection in a U.S. court.The property giant made the move in one of the world's biggest debt restructuring exercises. The firm's problems add to growing investor worries about China's property debt crisis and its overall economy.

The company's offshore debt restructuring involves a total of $31.7 billion.It will meet with its creditors later this month to discuss its restructuring proposal.A number of Chinese property developers have defaulted on their offshore debt obligations.Leaving in its wake unfinished homes, plunging sales and battered investor confidence.The property sector makes up about a quarter of the economy.

 

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