Palo Alto Networks Drags Down Cybersecurity Stocks in Morning Trading
Shares of Palo Alto Networks plunged 22% in premarket trading after the cybersecurity company cut its revenue outlook for the full year.The company also issued guidance for its current quarter that fell below Wall Street expectations.The weak outlook came after Palo Alto Networks reported better-than-expected results for its fiscal second-quarter.Other cybersecurity stocks also dropped. Zscaler and CrowdStrike fell over 9%; SentinelOne fell over 7%; Fortinet fell nearly 6%.