— Fortinet tumbled 18.8% after posting a mixed second-quarter report and outlook. The cybersecurity company posted 38 cents in adjusted earnings per share on $1.29 billion in revenue, while analysts polled by Refinitiv had expected 34 cents per share on $1.3 billion.
Fortinet similarly issued mixed guidance for the current quarter, with forecast earnings in line with expectations and revenue coming in softer than the Street's expectations.— The stock popped 56% before the bell Friday on news that the container maker finalized a debt restructuring deal, which it expects will help reduce or reallocate about $150 million of cash interest and fees.
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