Palo Alto Networks shares surge after earnings, Napco Security tumbles and more stocks on the move

Shares of Palo Alto Networks Inc. PANW, +1.02% surged 8% after the cybersecurity company’s unusual late Friday report revealed earnings and a billings outlook above Street estimates as AI-backed cyberattacks rise and the Securities and Exchange Commission seeks quicker reporting from companies on material attacks.

Tesla Inc. TSLA, -1.70% shares rose 2.7% in premarket, possibly headed for the first positive session in eight.Napco Security Technologies Inc. NSSC, +0.55% shares tumbled 31% in premarket. The maker and designer of electronic security equipment and wireless communication devices for intrusion and fire alarm systems said late Friday that it had identified errors in past financial statements resulting in overstated figures for the first three quarters of fiscal 2023.

Jet.AI Inc.’s stock JTAI, +64.25% fell 14% after the private-jet booking company released its AI-based booking app on Apple’s App Store, driving shares to close up 64% on Friday.

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Palo Alto Networks CEO addresses Friday earnings experiment: 'Lesson learnt'After spooking Wall Street with its plans to report earnings after Friday's close, Palo Alto Networks' mysterious move turned out to be much ado about nothing.
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