Stocks making the biggest moves after the bell: Cisco Systems, Palo Alto Networks and more

The Mobile World Congress (MWC), the telecom industry’s biggest annual gathering, held in Barcelona, Spain on February 27, 2023.Adria Puig | Anadolu Agency | Getty Images

Check out the companies making headlines in extended trading.

Cisco Systems – Shares tumbled nearly 11% after the digital communications company offered worse-than-expected guidance for the current quarter and full year. That pulled attention away from a strong report for the fiscal first quarter, with Cisco beating the consensus forecasts of analysts polled by LSEG on both lines.

Palo Alto Networks – The cybersecurity stock slid 6%. Despite issuing a better-than-expected report and solid earnings guidance for the fiscal second quarter and full year, the company issued a weak forecast on billings compared to what analysts expect for the current quarter .Palo Alto also cut its guidance on the measure for the full year.

Maxeon Solar Technologies – Shares slipped 7% after posting a bigger loss than expected in the third quarter. Maxeon said it lost $2.21 per share in the quarter, a staggering figure compared with the consensus per-share loss estimate of 91 cents from analysts surveyed by FactSet. The solar company beat analyst expectations for revenue in the quarter, but issued a weaker-than-anticipated revenue outlook for both the current quarter and full year. – The stock shed 5%. While, a review site of gambling services, beat expectations on both lines for the third quarter, it left its full-year expectations unchanged. The company’s adjusted earnings before interest, taxes, depreciation, and amortization for the quarter came in at $6.1 million, slightly under the $6.2-million consensus forecast of analysts polled by FactSet.

Share This Article


About the Author

Stocks making the biggest moves after the bell: Cisco Systems, Palo Alto Networks and more

Editor Prism MarketView