Why did Palo Alto Networks stock fall on Tuesday?

Palo Alto Networks, Inc. (NASDAQ:PANW) shares fell in line with on Tuesday oracle (NYSE: ORCL), which fell thereafter give gentle guidance.

What you should know: On Monday, Oracle reported mixed first-quarter earnings results. The company reported quarterly earnings of $1.19 per share, beating analysts’ consensus estimates of $1.15, and quarterly revenue of $12.45 billion, beating analysts’ consensus estimates of 12.46 billion US dollars.

The company expects total revenue to grow between 5% and 7% in the second quarter. Additionally, Oracle expects second-quarter earnings per share to be between $1.27 and $1.31, versus the estimate of $1.25.

The disappointing news impacted software stocks, with Palo Alto Networks trading nearly 3% lower on Tuesday.

Related link: Why Intel shares are trading higher today

PANW price history: Shares of PANW closed up 2.93% at $245.73 on Tuesday Benzinga Pro.

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This article Why did Palo Alto Networks stock fall on Tuesday? originally appeared on Benzinga.com

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