All articles tagged with #zscaler
Jay Choudhry, an Indian-born entrepreneur and CEO of cybersecurity firm Zscaler, is among America's wealthiest immigrants with a net worth of $17.9 billion, ranking eighth on Forbes' list of immigrant billionaires.
Zscaler is acquiring Red Canary to enhance its AI-powered security operations, combining Red Canary's expertise in managed detection and response with Zscaler's extensive data and cloud security platform to create a more efficient, AI-driven security operations center aimed at better detecting and responding to cyber threats.
U.S. stock futures declined on Friday despite in-line inflation data for April, as disappointing earnings from major tech companies weighed on sentiment. Dell Technologies fell 21% due to a lower-than-expected earnings outlook, while MongoDB dropped 25% after issuing light guidance. Gap surged 25% on raising its full-year sales forecast, and Zscaler rose 6% following strong quarterly earnings. Other notable movers included Nordstrom, Trump Media & Technology Group, Marvell, Costco, Ambarella, Flutter Entertainment, Caesars Entertainment, Veeva Systems, and SentinelOne.
Stocks of Dell Technologies, MongoDB, Zscaler, and Gap experienced significant movements in after-hours trading.
DuPont spinoff Corteva and 3M win an appeal in a class action lawsuit over "forever chemicals," while Zscaler shares fall due to rising costs. Boeing shares climb after an RBC upgrade, but Acelyrin shares plunge following an error in an arthritis drug trial. The S&P Case-Shiller Home Price Index is expected to show an increase in housing prices, while the Consumer Confidence Index is projected to decline.
Zscaler Inc. reported better-than-expected earnings for the latest quarter and maintained its outlook for the ongoing quarter, but its stock fell as the company did not increase its full-year billings forecast. The company's calculated billings for the fiscal first quarter exceeded analysts' expectations, but Zscaler chose to keep its full-year forecast unchanged.
Spotify's shares fell after being downgraded by Redburn Atlantic due to concerns over competition from Amazon and the impact of its new audiobook offer on margin expansion. Zscaler saw a rally in its stock after receiving an overweight rating from Barclays, with the analyst highlighting growth opportunities in the cybersecurity segment. Mirati Therapeutics' shares dropped following the announcement of its acquisition by Bristol Myers Squibb. Tesla's stock declined after data showed a 10.9% year-over-year sales decline in China. Defense stocks, including Northrop Grumman and General Dynamics, rallied amid rising conflict between Palestine and Israel, while airline stocks, such as United Airlines and Delta Air Lines, were down as major airlines suspended service to Israel.
Walt Disney's stock rose after activist investor Nelson Peltz's Trian Fund Management increased its stake and may seek multiple board seats; Arm Holdings saw a 3% increase in shares after JPMorgan initiated coverage with an overweight rating; Spotify Technology fell 2% after being downgraded by Redburn Atlantic; Zscaler edged higher after being upgraded by Barclays; Exxon Mobil, Chevron, and Occidental Petroleum experienced stock gains as oil prices rallied due to the recent attack on Israel by Hamas.
In after-hours trading, Zscaler's stock slipped 1% despite a better-than-expected report for its fiscal fourth quarter, while GitLab's stock jumped 4% following a strong second-quarter report. Gogo's stock advanced 3.5% after announcing a share repurchase program, while Asana's stock slipped 2.8% despite a strong report. AeroVironment's shares added nearly 12% after beating analysts' expectations in its fiscal first quarter.
Several stocks are moving in the stock market, including Catalent, PacWest, Zscaler, Six Flags, and Tyson Foods.
Cybersecurity firm Zscaler pre-announced strong fiscal third-quarter results and raised full fiscal-year guidance, causing its stock to soar by 20.1%. Zscaler's revenue is expected to be in the range of $415 million to $419 million for the April quarter, up from its earlier forecast of $397 million. The cybersecurity firm also predicted revenue in the range of $1.581 billion to $1.591 billion for full-year fiscal 2023, up from an earlier outlook of about $1.56 billion. Zscaler's web security gateways inspect customers' data traffic for malware, and its ZPA cloud service replaces virtual private networks to support remote work.
Zscaler's stock rose by 20% after the cybersecurity company announced that it expects to report better-than-anticipated results for its just-completed quarter, with revenue expected to be between $415 million to $419 million, far above its prior outlook of $396 million to $398 million and analysts' expectations of $397 million.
Zscaler's stock rose after the cloud-security company provided a preview of its Q3 results and increased its financial forecasts for the full fiscal year.