Palo Alto Networks Issues Weak Outlook, Joins Teladoc Health, SolarEdge Technologies And Other Big Stocks Moving Lower In Wednesday's Pre-Market Session

U.S. stock futures were lower this morning, with the Dow futures trading lower by around 70 points on Wednesday.

Shares of Palo Alto Networks, Inc. PANW fell sharply in today’s pre-market trading after the company issued third-quarter guidance below estimates.

Palo Alto’s fiscal second-quarter revenue increased 19% year-over-year to $1.98 billion, which beat the consensus estimate of $1.97 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.46 per share, which beat analyst estimates of $1.30 per share.

Palo Alto sees fiscal third-quarter revenue of $1.95 billion to $1.98 billion versus estimates of $2.04 billion. The company expects third-quarter adjusted earnings to be between $1.24 and $1.26 per share versus estimates of $1.29 per share.

Palo Alto Networks shares tumbled 22.1% to $285.06 in pre-market trading.

Here are some big stocks recording losses in today’s pre-market trading session.

• Teladoc Health, Inc. TDOC shares dipped 20.8% to $16.22 in pre-market trading after the company reported mixed fourth-quarter financial results and issued weak guidance.
• Community Health Systems, Inc. CYH fell 18.3% to $3.30 in pre-market trading after the company reported fourth-quarter financial results.
• SolarEdge Technologies, Inc. SEDG shares fell 16% to $70.90 in pre-market trading after the company reported mixed fourth-quarter financial results.
• Matterport, Inc. MTTR shares declined 12.6% to $2.22 in pre-market trading after the company posted weak quarterly sales and issued downbeat forecast.
• Calliditas Therapeutics AB CALT fell 9.3% to $18.98 in pre-market trading following quarterly results.
• CrowdStrike Holdings, Inc. CRWD shares fell 9.2% to $294.00 in pre-market trading.
• Sprout Social, Inc. SPT fell 9.2% to $58.50 in pre-market trading after the company reported fourth-quarter financial results and issued guidance.
• Zscaler, Inc. ZS fell 9.2% to $226.15 in pre-market trading.
• HSBC Holdings plc HSBC fell 7.6% to $37.73 in pre-market trading following fourth-quarter results.
• Medifast, Inc. MED fell 7.3% to $45.36 in pre-market trading after the company issued weak guidance.
• Keysight Technologies, Inc. KEYS declined 6.8% to $144.00 in pre-market trading after the company issued second-quarter EPS and revenue guidance below estimates.

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