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)

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