By Will Feuer
Palo Alto Networks reported a jump in earnings for its fiscal fourth quarter and issued upbeat guidance for the fiscal year. The cybersecurity provider said it is still getting deals across the finish line, despite more scrutiny from customers’ finance chiefs and growing requests for deferred payment plans. The company’s fiscal 2024 adjusted earnings and billings forecast both top analysts’ expectations. Shares climb 11%, to $232.50, in after-hours trading.
NAPCO Security Technologies identified errors in past financial statements that resulted in overstated figures for the first three quarters of fiscal 2023. The maker of electronic security equipment and wireless communication devices for intrusion and fire alarm systems said the errors were related to its calculation of cost of goods sold and inventory for each of the quarters. Shares dropped almost 30%, to $27.10.
Maui Land & Pineapple Co. said its land and assets weren’t affected by the wildfires on the Hawaiian island that have left at least 110 people dead. The Lahaina-based company, which develops, manages and sells real estate on the island of Maui, said its holdings are mostly in Upcountry Maui and West Maui. Shares rose 1.6%, to $15.40, in the after-market session.
Write to Will Feuer at [email protected]
Read the full article here
