Stocks to Watch: Palo Alto Networks, SolarEdge, Teladoc Health
By Ben Glickman
Palo Alto Networks reduced its full-year outlook for fiscal 2024 revenue despite fiscal second-quarter results topping expectations. The cybersecurity company now expects revenue of $7.95 billion to $8 billion, compared with previous guidance of $8.15 billion to $8.2 billion. Shares fell 20% to $291.97 in after-hours trading.
SolarEdge Technologies saw higher interest rates and lower power prices continue to dent residential solar demand, with revenue falling 56% in the fourth quarter. The company forecast first-quarter revenue of $175 million to $215 million, which would represent a 77% to 81% drop from a year earlier. Shares fell 12% to $74.49 in after-hours trading.
Teladoc Health late Tuesday forecast a wider-than-expected loss in the first quarter and revenue below analysts' expectations. The telehealth company also forecast $2.64 billion to $2.74 billion in revenue for 2024, below the $2.77 billion forecast by analysts. Shares dropped 17% to $16.99 after hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
February 20, 2024 18:51 ET (23:51 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
What’s Happening In the Markets This Week
-
Can the Fed Declare Victory on Inflation?
-
After Earnings and a 56% Rally In 2024, Is Arm Stock a Buy, a Sell, or Fairly Valued?
-
How Morningstar Rates Stocks
-
After Earnings, Is Disney Stock a Buy, a Sell, or Fairly Valued?
-
Home Depot Earnings: Macro Factors Pinch Demand, but Long-Term Outlook Intact
-
Tariffs On Chinese EVs Offer US Automakers a Chance to Capture Demand
-
The Best REITs to Buy
-
3 Hot Stocks to Buy That Still Look Undervalued
-
After Earnings, Is Eli Lilly Stock a Buy, a Sell, or Fairly Valued?