On this edition of Stock Movers:
- Palo Alto Networks Inc. (PANW) jumped on a stronger-than-expected annual forecast, as the company seeks to provide customers with a bundle of AI-enabled cybersecurity products to fend off attacks. Fiscal-year sales will be about $10.5 billion, the company said Monday in a statement. Analysts, on average, estimated $10.4 billion, according to data compiled by Bloomberg. The shares increased about 5% in extended trading in New York, after closing at $176.17. Palo Alto’s results suggest the company’s strategy of offering a platform of cybersecurity products appeals to customers trying to reduce vendors and save money.
- Dayforce (DAY) shares surged today after Thoma Bravo is in talks to acquire the human resources management software provider according to people familiar with the matter. The buyout firm is planning to take the Minneapolis-based company private in a deal that could be announced as soon as the coming weeks, the people said, asking not to be identified as the matter is private. Shares of Dayforce rose as much as 28% on Monday for their biggest intraday gain in more than seven years. The stock was up 25% at 9:38 a.m in New York, giving the company a market value of about $10.6 billion. Dayforce’s shares also trade on the Toronto Stock Exchange.While discussions are advanced, they could still be delayed or falter and it’s possible another bidder may emerge, the people said. Representatives for Thoma Bravo and Dayforce didn’t immediately respond to requests for comment.
- First Solar (FSLR) and other solar stocks rose today after the Trump administration released new guidance on clean energy tax credits that were better than feared for solar companies.
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