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AI & Enterprise

Palo Alto Networks shares fall 6 percent after Q3 earnings guidance disappoints investors

Palo Alto Networks shares fell 6 percent after its fiscal second-quarter results, despite posting earnings above expectations. Investors were disappointed after the company issued third-quarter earnings guidance of 78 to 80 cents per share, below the market estimate of 92 cents. Second-quarter revenue rose 15 percent to $2.6 billion and net profit increased to $432 million. The company also announced the acquisition of Israeli cybersecurity startup Koito.

AI & Enterprise

Big firms heat up M&A in global security market at start of year

Merger-and-acquisition activity led by major players is picking up in the global security market at the start of the year. SiliconAngle, citing Israeli outlet Calcalist, reported Palo Alto Networks is pursuing Israeli cybersecurity startup Koi Security in a deal valued at about $400 million. Separately, Calcalist reported Cisco is seeking to buy security asset-management startup Axonius for about $2 billion, though Axonius said it has not held acquisition talks with Cisco.