Several companies are making headlines in extended trading, with Cisco Systems, Palo Alto Networks, Maxeon Solar Technologies, and Gambling.com all experiencing significant stock movements.
Cisco Systems saw its shares tumble by nearly 11% after offering worse-than-expected guidance for the current quarter and full year. Despite a strong fiscal first-quarter report that beat analysts’ forecasts, the company’s disappointing guidance overshadowed its positive performance.
Palo Alto Networks, a cybersecurity stock, also experienced a 6% slide in its shares. The company issued a better-than-expected report and solid earnings guidance for the fiscal second quarter and full year, but its weak forecast on billings for the current quarter and lowered guidance for the full year led to the stock decline.
Maxeon Solar Technologies witnessed a 7% slip in its shares after posting a larger-than-expected loss in the third quarter. Although the solar company beat analyst expectations for revenue in the quarter, its weaker-than-anticipated revenue outlook for both the current quarter and full year contributed to the stock decrease.
Gambling.com, a review site of gambling services, also saw its stock shed 5% despite beating expectations on both lines for the third quarter. The company left its full-year expectations unchanged and its adjusted earnings before interest, taxes, depreciation, and amortization for the quarter came in slightly under analysts’ consensus forecast.
Investors are closely watching these developments as they assess the performance and outlook of these companies in the market. These stock movements highlight the impact of earnings reports and guidance on investor sentiment.
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