Palo Alto Networks, Inc. (NASDAQ: PANW ) shares fell miserably on Tuesday Oracle (NYSE: ORCL ), which later fell Giving gentle guidance.
What you need to know: On Monday, Oracle reported mixed first-quarter earnings results. The company reported quarterly earnings of $1.19 per share, missing analysts’ consensus estimates of $1.15, and sales of $12.45 billion for the quarter, missing analysts’ consensus estimates of $12.46 billion.
The company expects total revenue to grow between 5% and 7% in the second quarter. Additionally, Oracle expects second-quarter earnings to be between $1.27 and $1.31 per share, versus estimates of $1.25.
The sad news also weighed on software stocks, with Palo Alto Networks down about 3% on Tuesday.
Related link: Why Intel Stock Is Trading Higher Today
PANW Price Action: As of Tuesday, PANW shares closed down 2.93% at $245.73. Benzinga Pro.
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