News Formal

Crowdstrike Holdings warning sparks selloff in cybersecurity stocks

  • 📰 Reuters
  • ⏱ Reading Time:
  • 9 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 97%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

A warning from Crowdstrike Holdings Inc that clients were cutting back on spending and delaying purchases due to an economic slowdown slammed cybersecurity stocks on Wednesday, inflicting fresh pain on the battered sector.

"Increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates," Crowdstrike Chief Executive Officer George Kurtz said.

"Resilient, but not immune is a theme that will likely dominate the narrative during our October quarter-cohort earnings cycle," Piper Sandler analysts said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks making the biggest moves premarket: Hormel, Petco, CrowdStrike and moreThese are the stocks posting the largest moves before the bell. World pets day..
Source: CNBC - 🏆 12. / 72 Read more »

Stocks making the biggest moves after hours: Workday, CrowdStrike, Horizon Therapeutics and moreThese are the stocks posting the largest moves in after hours trading.
Source: CNBC - 🏆 12. / 72 Read more »