BUZZ-Palo Alto Networks falls after two-for-one stock split
Palo Alto Networks (PANW) shares fell 5.5% in extended trading following a two-for-one stock split announcement. Stockholders of record as of December 12 will receive an additional share for each share held after trading closes on December 13, with trading on a split-adjusted basis starting December 16. The company has raised its fiscal 2025 revenue forecast to $6.12 billion to $6.17 billion, up from $6.10 billion to $6.15 billion, as it bets on its "platformization" strategy to drive growth. Year-to-date, PANW shares are up 31%.
Shares of cybersecurity firm Palo Alto Networks (PANW.O) down 5.5% at $370.00 in extended trade
Co announces two-for-one forward stock split of its outstanding shares of common stock
Each stockholder of record as of Dec 12 will receive one additional share for every share held after the close of trading on Dec 13
Trading is expected to begin on a split-adjusted basis on Dec 16
Palo Alto lifts annual revenue and profit forecasts betting on its differentiated “platformization” strategy, which consolidates multiple cybersecurity tools into a single platform, to drive growth
Now expects fiscal 2025 revenue of $9.12 billion to $9.17 billion vs prior target of $9.10 billion to $9.15 billion
YTD, PANW up 31% as of last close
