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35 stories mentioning PANWUpdated 22h ago

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Wire

AT&T Expands Partnership With Palo Alto Networks to Secure Enterprise Networks

AT&T (T) and Palo Alto Networks (PANW) said Wednesday they expanded their partnership to launch new offerings designed to help enterprises secure distributed environments.The companies said they launched AT&T Dynamic Defense with Palo Alto Networks and AT&T SASE with Palo Alto Networks to integrate connectivity and security for enhanced network-level protection through AI-driven network visibility and threat prevention.The offerings are now available as part of AT&T and Palo Alto's integrated security portfolio, according to a statement.Price: $24.47, Change: $-0.20, Percent Change: -0.79%

$PANW$T
Cybersecurity Stocks' Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says
US Markets

Cybersecurity Stocks' Hefty Valuations Demand Caution Ahead of Earnings, Morgan Stanley Says

Cybersecurity stocks' lofty valuations warrant caution ahead of upcoming quarterly results, especially for certain vulnerability management names, Morgan Stanley said in a client note.Cybersecurity stocks have rallied about 25% over the last month as worries about the impact of artificial intelligence eased, the investment firm said. Vulnerability management providers, in particular, saw their valuations almost double.Demand for the cybersecurity sector remains healthy, but that still does not justify current prices, Morgan Stanley said."Checks have improved for cybersecurity (quarter over quarter), with indications that they should improve further into (the third quarter), leaving us positive (on) the cyber category as a whole," the firm said. "However, with valuations having almost doubled off the bottoms post (the first quarter), and on-cycle names unlikely to show material inflections, we lean more cautious heading into the on-cycle prints."Morgan Stanley said it is particularly cautious on vulnerability management companies Qualys (QLYS) and Rapid7 (RPD).On the other hand, the brokerage prefers Palo Alto Networks (PANW) and CrowdStrike (CRWD) that it believes are "best positioned" to benefit from the AI-driven consolidation.Morgan Stanley raised the price target to $387 from $320 for Palo Alto and to $227 from $172 for CrowdStrike, while reiterating its overweight rating on both stocks.The firm replaced CrowdStrike with Palo Alto as its "top pick," saying the latter "offers the strongest combination of platform consolidation tailwinds, AI security exposure, and margin expansion at current valuation levels."Morgan Stanley raised the price target for Qualys to $115 from $96, while it downgraded its rating on Rapid7 to underweight from equal-weight."While we agree the category has evolved beyond bug-finding into exposure management, where it is more defensive (versus) AI-natives, we don't believe Rapid7 has executed that pivot successfully enough, as evidenced by just 1.2% revenue growth over the last 12 months," the firm said.Morgan Stanley upgraded Fortinet (FTNT) to equal-weight from underweight and revised its price target to $133 from $80.Price: $143.22, Change: $-13.15, Percent Change: -8.41%

$CRWD$FTNT$PANW$QLYS$RPD
Research

Capital One Upgrades Palo Alto Networks to Overweight From Equalweight, Adjusts PT to $421 From $307

Palo Alto Networks (PANW) has an average rating of overweight and mean price target of $333.12, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$PANW
Wire

Tigress Financial Adjusts Palo Alto Networks Price Target to $430 From $265

Palo Alto Networks (PANW) has an average rating of overweight and mean price target of $331.02, according to analysts polled by FactSet.Price: $356.76, Change: $+3.87, Percent Change: +1.10%

$PANW
Wire

Palo Alto Networks Collaborates With IBM, Red Hat on Vulnerability Protection

Palo Alto Networks (PANW), International Business Machines (IBM), and Red Hat said Wednesday they expanded Project Lightwell to accelerate vulnerability detection and protection across software and operational technology environments.The companies said the initiative integrates Palo Alto Networks' virtual patching technology with Project Lightwell's software remediation capabilities, enabling organizations to implement network-level defenses while preparing long-term fixes.The combined approach aims to reduce the time between vulnerability discovery and protection, with support for preemptive coverage and, in some cases, same-day deployment of virtual patches, the companies said.Price: $287.74, Change: $-3.18, Percent Change: -1.09%

$IBM$PANW
Insider Trading

Palo Alto Networks Insider Sold Shares Worth $5,597,911, According to a Recent SEC Filing

James J Goetz, Director, on June 12, 2026, sold 20,000 shares in Palo Alto Networks (PANW) for $5,597,911. Following the Form 4 filing with the SEC, Goetz has control over a total of 334,580 common shares of the company, with 314,580 shares held directly and 20,000 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1327567/000121923126000005/xslF345X05/form4.xml

$PANW
Wire

Argus Raises Palo Alto Networks Price Target to $320 From $222

Palo Alto Networks (PANW) has an average rating of overweight and mean price target of $315.69, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)Price: $275.10, Change: $-4.15, Percent Change: -1.49%

$PANW
Sectors

Sector Update: Tech Stocks Mixed Wednesday Afternoon

Tech stocks were mixed Wednesday afternoon, with the State Street Technology Select Sector SPDR ETF (XLK) falling 1% and the State Street SPDR S&P Semiconductor ETF (XSD) adding 1.4%.The Philadelphia Semiconductor Index advanced 1.3%.In sector news, SpaceX plans to price its IPO at $135 per share, seeking to raise $75 billion, Reuters reported. The firm plans to sell 555.6 million shares in an all-primary offering and is aiming for a $1.75 trillion valuation, the report said.Separately, xAI has halted hiring for specialists to train its Grok chatbot on a range of skills due, in part, to concerns that the company's human resources department is overwhelmed by the number of candidates, Bloomberg reported.In corporate news, Alphabet (GOOG, GOOGL) increased the size of its equity capital raise to $84.75 billion from the previously announced $80 billion, according to a regulatory filing Tuesday. The offering includes a pledge by Berkshire Hathaway (BRK.A, BRK.B) to invest $10 billion in the tech giant in a private placement, the filing said. Alphabet's Class A and Class C shares were each down 0.2%.Palo Alto Networks (PANW) late Tuesday reported stronger-than-expected fiscal Q3 results as an AI boom drove demand for cybersecurity. Its shares still fell 6%.Baidu (BIDU) expects to list its chip unit Kunlunxin Technology in Hong Kong this year, The Wall Street Journal reported, citing Chief Financial Officer Henry He. Baidu shares were down 1.4%.

$BIDU$GOOG$GOOGL$PANW
Wire

Top Midday Stories: Alphabet Upsizes Equity Capital Raise to $84.75 Billion; SpaceX Planning $135 a Share IPO

All three major US stock indexes were down late-morning Wednesday, as oil prices and US Treasury yields rose amid concerns about the ongoing conflict between the US and Iran.In company news, Alphabet (GOOG, GOOGL) upsized its equity capital raise to $84.75 billion from the previously announced $80 billion, according to a regulatory filing Tuesday. The offering includes a pledge by Berkshire Hathaway (BRK.A, BRK.B) to invest $10 billion in a private placement, the filing said. Alphabet's Class C and Class A shares were each down about 0.8%. Berkshire's Class A and Class B shares were up 0.3% and 0.5%, respectively.SpaceX plans to price its initial public offering at $135 per share, seeking to raise $75 billion, Reuters reported late Tuesday, citing people familiar with the matter. The firm plans to sell 555.6 million shares in an all-primary offering and is aiming for a $1.75 trillion valuation, the report said. Separately, 10 officials in the Trump administration reported financial interests in SpaceX and xAI worth at least $9.9 million and as much as $43.8 million, Bloomberg reported Wednesday, citing recent public financial disclosures.Hartford Insurance Group (HIG) has agreed to sell its Hartford Funds unit to Wellington Management in a deal with a net present value of $1.9 billion, the companies said Wednesday. Hartford will receive $300 million in cash at closing, with additional payments over seven years tied to cash generated by the combined business and related product sales, the companies said. Hartford shares were down 0.5%.Medtronic (MDT) reported fiscal Q4 adjusted earnings Wednesday of $1.55 per diluted share, down from $1.62 a year earlier but above the FactSet consensus analyst estimate of $1.54. Fiscal Q4 revenue was $9.81 billion, up from $8.93 billion a year ago and above the consensus of $9.62 billion. For fiscal 2027, the company expects adjusted EPS of $5.90 to $6.00 on organic revenue growth of 6.75% to 7.25%. Analysts polled by FactSet expect adjusted EPS of $6.05. Medtronic said it is investing in two privately held intracardiac echocardiography catheter companies. Financial details of the investments were not disclosed. Medtronic shares were up 4.6%.Palo Alto Networks (PANW) reported fiscal Q3 adjusted earnings late Tuesday of $0.85 per diluted share, up from $0.80 a year earlier and above the FactSet consensus of $0.79. Fiscal Q3 revenue was $3 billion, up from $2.29 billion a year ago and above the consensus of $2.94 billion. For fiscal Q4, the company said it expects adjusted EPS of $0.96 to $0.98 on revenue of $3.35 billion to $3.36 billion. Analysts polled by FactSet expect $0.94 and $3.28 billion, respectively. Palo Alto Networks shares were down 4.3%.Price: $355.43, Change: $-2.96, Percent Change: -0.83%

$GOOG$GOOGL$HIG$MDT$PANW
Wire

Palo Alto Networks Faces Multiple AI Monetization Opportunities, RBC Says

Palo Alto Networks (PANW) has multiple tangible artificial intelligence monetization opportunities, RBC Capital Markets analysts said in a Wednesday note.Analysts said that the company reported a "strong" Q3, topping analyst expectations, and raised its full-year guidance.RBC said that while it is still relatively early in enterprise AI deployments, Palo Alto is seeing three major AI tailwinds, including broader interest in platformization, securing AI deployments with Prisma AIRS, and securing higher traffic generated through AI deployments."We view Palo Alto as well positioned to benefit from an increasingly complex security and threat landscape and as an industry leader in security," analysts said.RBC retained an outperform rating on the stock and increased its price target to $330 from $255.Price: $282.46, Change: $-14.72, Percent Change: -4.95%

$PANW
Wire

Palo Alto Networks Fiscal Q3 Results Signal Rising Demand for AI-driven Cybersecurity Platforms, Morgan Stanley Says

Palo Alto Networks' (PANW) fiscal Q3 results indicated increasing customer demand for platform-based cybersecurity services as artificial intelligence adoption grows, Morgan Stanley said in a note Wednesday.According to the note, the company delivered upside across multiple areas, including CyberArk, SASE, Prisma AIRS, XSIAM and its core firewall business, with all segments outperforming expectations.Customers are consolidating vendors not only because it is cost-efficient but also to reduce security vulnerabilities, especially as cyber threats become more severe, the note said.Morgan Stanley said this trend remains in its early stages, with Palo Alto still holding only a single-digit share of the overall cybersecurity market, leaving a significant runway for future growth."[W]e expect growth to accelerate in the next year, even as the company cautions the pace, providing a continued positive catalyst for the name," the note said.Meanwhile, the stock's relatively flat reaction following earnings likely reflects a pause after its 61% gain over the past month, Morgan Stanley said, adding that investors are now focused on how quickly customers adopt AI security tools, not on whether they will.Morgan Stanley raised its price target on Palo Alto to $320 from $253, while keeping its overweight rating.Price: $278.67, Change: $-18.51, Percent Change: -6.23%

$PANW
International

US Equity Futures Mixed Pre-Bell as US, Iran Continue Military Strikes in Middle East

US equity futures were mixed pre-bell Wednesday as the US and Iran exchanged military strikes in the Middle East and progress on peace talks remained uncertain.Dow Jones Industrial Average futures were 0.4% lower, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% higher.The US Central Command reported Tuesday the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said Iran has agreed to not have nuclear weapons, according to a CNBC report citing the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $98.38 per barrel and US West Texas Intermediate crude 2.8% higher at $96.39 per barrel.ADP's national employment report showed that private sector employment increased by 122,000 in May, compared with expectations for a 120,000 gain in a survey compiled by Bloomberg.The S&P Global composite purchasing managers' index final report for May, due at 9:45 am ET, is seen to be unchanged at 51.7. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 2.5% higher, Hong Kong's Hang Seng ended 1.6% lower, and China's Shanghai Composite finished 0.2% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 1% lower in Europe's early afternoon session.In equities, Palo Alto Networks stock was down 3.8% after reporting its fiscal Q3 financial results. Palantir Technologies (PLTR) shares fell 1% after a UK parliamentary committee said that the company's expanding role across the UK public sector represents an "unacceptable point of weakness." Novartis (NVS) stock was down 1% after Celcuity (CELC) reported that detailed results from a phase 3 trial showed its investigational breast cancer treatment gedatolisib outperformed Novartis' alpelisib plus fulvestrant in patients with hormone receptor-positive, HER2-negative, PIK3CA-mutated advanced breast cancer.On the winning side, Sherwin-Williams (SHW) shares were up 3.6% after the company and Nippon Paint Group said they had abandoned their joint attempt to buy AkzoNobel. BP (BP) stock was up 1.3% after the Financial Times reported that the company held advanced talks to sell its UK North Sea oil and gas assets to Ithaca Energy in a deal potentially worth close to 2 billion British pounds ($2.7 billion).

Dow JonesNasdaq CompositeS&P 500$BP$CELC$NVS$PANW$PLTR$SHW
Japan

US Equity Futures Mixed Pre-Bell as US, Iran Continue Military Strikes in Middle East

US equity futures were mixed pre-bell Wednesday as the US and Iran continued to exchange attacks in the Middle East, while progress on peace talks remained murky.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.2% higher.US Central Command reported the defeat of several Iranian ballistic missiles and drones launched at Kuwait and Bahrain. The military command said it also conducted "self-defense strikes" on Iranian forces on Qeshm Island in the Strait of Hormuz.President Donald Trump said that Iran has "already agreed" not to have nuclear weapons, according to a CNBC report that cited the New York Post's "Pod Force One" podcast. "I mean, now they can change their mind, but that was one of the things they've had to agree, they've agreed to that. That was the big thing," he said.Traders digested the latest round of earnings, with Palo Alto Networks (PANW) posting higher fiscal Q3 adjusted earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.1% at $97.97 per barrel and US West Texas Intermediate crude 2.1% higher at $95.73 per barrel.The ADP employment report for May, expected at 8:15 am ET, is seen showing an increase of 120,000 from 109,000 in the prior month, according to estimates compiled by Bloomberg.The S&P Global purchasing managers' index composite final report for May, due at 9:45 am ET, is seen reporting 51.7, unchanged from the prior value. April factory orders, due at 10 am ET, are expected to have gained 4.6%, compared with 1.5% previously.Federal Reserve Governor Michael Barr and Dallas Fed President Lorie Logan are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$PANW
Stocks Mostly Down Pre-Bell as Traders Assess Latest Middle East Developments
US Markets

Stocks Mostly Down Pre-Bell as Traders Assess Latest Middle East Developments

The main US stock measures were mostly trending lower in Wednesday's premarket activity as traders assess the latest developments in the Middle East.The S&P 500 edged down 0.1% and the Dow Jones Industrial Average declined 0.4%, while the Nasdaq gained 0.2% before the opening bell. All three indexes recorded new closing highs on Tuesday.President Donald Trump said in a podcast interview that Iran has agreed not to have nuclear weapons, several media outlets reported Wednesday. In a social media post on Tuesday, Trump said negotiations between the US and Iran were "going on continuously."Earlier in the week, Iranian state-affiliated outlet Tasnim reported that the country suspended talks with the US in retaliation to Israel's military action in Lebanon.The US Central Command said Tuesday that its forces "successfully defeated" multiple Iranian ballistic missiles and drones and launched defensive strikes following "attempted attacks" by Tehran across the Middle East.Iran reportedly launched a wave of missile and drone attacks toward Kuwait and Bahrain in a major escalation of regional tensions. Kuwait said a number of "hostile drones" targeted its airport, causing significant material damage and injuring several people.West Texas Intermediate crude oil increased 2.6% to $96.17 a barrel in premarket action, while Brent advanced 2.5% to $98.42."Crude oil continues to trade from one headline to the next, making it increasingly difficult for traders to maintain conviction beyond a few hours," Saxo Bank said in a Tuesday report. "Global energy markets continue to tighten, with the main focus remaining on the Strait of Hormuz, a vital shipping artery that remains effectively shut, sustaining concerns about supply disruptions and elevated energy prices."Treasury yields were up before the open, with the two-year rate rising 2.9 basis points to 4.08% and the 10-year rate adding 3 basis points to 4.49%.The Organization for Economic Cooperation and Development on Wednesday cut its global growth outlook for 2026, warning that a prolonged war between the US and Iran could have "longer-lasting negative consequences."The ADP Employment report for May is out at 8:15 am ET. On Tuesday, official data showed that US job openings hit their highest level in almost two years in April, while hiring and layoffs fell.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am. The purchasing managers' index composite final report from S&P Global (SPGI) for May posts at 9:45 am, followed by the Institute for Supply Management's services index for the same month at 10 am.The weekly EIA domestic petroleum inventories report is due at 10:30 am. The Federal Reserve's Beige Book, a compilation of economic and business reports from the 12 regional Fed branches, is out at 2 pm.Fed Governor Michael Barr is scheduled to speak at 9 am, while Dallas Fed President Lorie Logan speaks at 4 pm.The Fed may need to raise interest rates should inflationary pressures persist, Cleveland Fed President Beth Hammack said Tuesday. "If we wait for definitive evidence that high inflation has become embedded in the economy, it may require larger policy adjustments, at greater cost," Hammack said in prepared remarks for an event in Ohio.Shares of Palo Alto Networks (PANW) declined 3.7% pre-bell following the company's latest quarterly results. Marvell Technology (MRVL) climbed 14% after Nvidia (NVDA) Chief Executive Jensen Huang reportedly said the company could be the next chip manufacturer to join the trillion-dollar club.Broadcom (AVGO), CrowdStrike (CRWD), Veeva Systems (VEEV) and Five Below (FIVE) are expected to release their latest earnings after the markets close. Medtronic (MDT), Macy's (M), Ollie's Bargain Outlet (OLLI) and Thor Industries (THO) post their financial results before the bell, among others.Gold slipped 0.7% to $4,488 per troy ounce, while bitcoin inched 0.3% higher to $67,127.

Dow JonesNasdaq CompositeS&P 500$AVGO$CRWD$FIVE$M$MDT$MRVL$OLLI$PANW$THO$VEEV
Research

Research Alert: Panw Posts Fq3 Beats On Strong Next-gen Solutions Demand; Organic Growth Solid

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:PANW reported Q3 non-GAAP EPS of $0.85, beating consensus by $0.05, while revenue of $3.0B grew 31% Y/Y, exceeding projections by $60M. Results include $388M from CyberArk and Chronosphere acquisitions, with subscription revenue reaching $2.408B (+31% Y/Y) and product revenue of $594M (+31% Y/Y). Next-Generation Security (NGS) ARR growth accelerated significantly to 60% Y/Y, reaching $8.1B, marking substantial acceleration from 33% growth in Q2, driven by customers securing AI deployments at scale and strong platformization momentum. Management raised FY 26 revenue guidance to $11.415B-$11.425B (24% growth) and NGS ARR guidance to $8.90B-$8.95B (59%-60% growth), with non-GAAP EPS expectations of $3.77-$3.79 exceeding Street projections of $3.69. Cash flow generation remained robust, with trailing 12-month adjusted FCF margin of 38.5% (+430 bps Y/Y), keeping the company firmly on track toward its 40% FCF margin target by FY 28, reflecting scalability of the platform model.

$PANW
Palo Alto Networks Tops Quarterly Views; Shares Climb After Hours
US Markets

Palo Alto Networks Tops Quarterly Views; Shares Climb After Hours

Palo Alto Networks (PANW) late Tuesday reported stronger-than-expected fiscal third-quarter results as an artificial intelligence boom drove demand for cybersecurity.Adjusted per-share earnings rose to $0.85 for the three months through April 30 from $0.80 a year earlier, beating the consensus on FactSet of $0.79. Revenue grew 31% to $3 billion, above analysts' $2.94 billion estimate."(Third quarter) was a standout quarter for Palo Alto Networks, with accelerating organic bookings growth as customers turn to us to secure their AI deployments at scale," Chief Executive Nikesh Arora said in a statement. "The latest advancements at the AI frontier have increased the level of urgency around cybersecurity, and redefined the shape of the industry for the coming years."Subscription and support revenue advanced to $2.41 billion from $1.84 billion in the year-ago period, while product sales increased to $594 million from $453 million.The cybersecurity firm's stock climbed 11% in after-hours trading, and has gained 61% this year through Tuesday close.Morgan Stanley expected solid results at Palo Alto amid favorable partner commentary and demand momentum.Palo Alto raised its fiscal 2026 adjusted EPS guidance to between $3.77 and $3.79 from $3.65 to $3.70 previously projected. The consensus estimate indicates $3.68. Revenue is pegged at $11.415 billion to $11.425 billion, compared with the prior outlook that called for $11.28 billion to $11.31 billion. Wall Street is modeling for $11.3 billion.For the fourth quarter, the company anticipates reporting adjusted EPS of $0.96 to $0.98 on revenue of $3.345 billion to $3.355 billion. The Street is looking for $0.94 and $3.28 billion, respectively.Palo Alto Networks has closed several acquisitions this year, including those of observability platform Chronosphere and CyberArk.

$PANW
Wire

Palo Alto Networks Fiscal Q3 Adjusted Earnings, Revenue Rise; Shares Gain After-Hours

Palo Alto Networks (PANW) reported fiscal Q3 adjusted earnings late Tuesday of $0.85 per diluted share, up from $0.80 a year earlier.Analysts polled by FactSet expected $0.79.Revenue for the three months ended April 30 was $3 billion, up from $2.29 billion a year earlier.Analysts surveyed by FactSet expected $2.94 billion.For fiscal Q4, the company expects adjusted EPS of $0.96 to $0.98 on revenue of $3.35 billion to $3.36 billion. Analysts expect $0.94 and $3.28 billion, respectively.For full-year fiscal 2026, the company now expects adjusted EPS of $3.77 to $3.79 on revenue of $11.42 billion to $11.43 billion, up from the prior forecast of adjusted EPS of $3.65 to $3.70 on revenue of $11.28 billion to $11.31 billion.Analysts expect $3.68 and $11.30 billion, respectively.Shares of Palo Alto Networks rose about 9% in after-hours activity.

$PANW
Equities Mostly Rise Intraday as Traders Parse Labor Market Data
US Markets

Equities Mostly Rise Intraday as Traders Parse Labor Market Data

US benchmark equity indexes were mostly higher intraday as investors evaluated fresh labor market data and continued to monitor Middle East developments.The Dow Jones Industrial Average was up 0.3% at 51,225.9 after midday Tuesday, while the S&P 500 rose 0.1% to 7,606.1. The Nasdaq Composite was little changed at 27,093.8. The indexes notched fresh closing highs in the previous session.Among sectors, utilities paced the gainers intraday Tuesday, while communication services saw the biggest decline.In economic news, US job openings hit their highest level in almost two years in April, while hiring and layoffs fell, official data showed."Job openings jumped to their highest level in nearly two years, but this likely overstates the strength of the labor market, as the increase didn't translate into a higher hiring rate," Oxford Economics said in a note. "The result should be taken with a grain of salt and doesn't suggest a sudden tightening of labor market conditions is ahead."Official data are expected to show Friday that the US economy added 95,000 nonfarm jobs in May, compared with a 115,000 increase reported for the previous month, according to a Bloomberg poll.West Texas Intermediate crude oil was up 1.6% at $93.59 a barrel intraday Tuesday, while Brent rose 1.1% to $96.04.Israel and Lebanon kicked off high-stakes talks in the US as renewed hostilities between Israel and Iran-backed Hezbollah threaten to derail peace talks between Washington and Tehran, CNN reported.Negotiations with Iran have been "going on continuously," US President Donald Trump said Tuesday."Where they lead, one never knows, but as I told Iran, 'It's time, one way or another, for you to make a deal'," Trump said in a social media post.On Monday, Iranian state-affiliated outlet Tasnim reported that the country suspended talks with the US in retaliation to Israel's military action in Lebanon.US Treasury yields were mixed intraday Tuesday, with the 10-year rate down two basis points at 4.46%, and the two-year rate little changed at 4.05%.In company news, Hewlett Packard Enterprise (HPE) shares jumped nearly 16%, the second-top gainer on the S&P 500. Late Monday, the information technology company lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.Marvell Technology (MRVL) shares surged 29% intraday Tuesday after Nvidia (NVDA) Chief Executive Jensen Huang reportedly said Marvell could be the next chip company to join the trillion-dollar club.Palo Alto Networks (PANW), Ulta Beauty (ULTA) and GitLab (GTLB) are expected to report their latest quarterly financial results after the closing bell Tuesday, along with others.Gold was up 0.3% at $4,517.60 per troy ounce, while silver rose 0.4% to $75.54 per ounce.

Dow JonesNasdaq CompositeS&P 500$GTLB$HPE$MRVL$NVDA$PANW$ULTA
Stocks Down Pre-Bell Amid Uncertainty Over US-Iran Peace Talks
US Markets

Stocks Down Pre-Bell Amid Uncertainty Over US-Iran Peace Talks

The benchmark US stock measures were tracking in the red before the opening bell Tuesday amid uncertainty over the status of peace talks between the US and Iran.The S&P 500 and the Nasdaq edged down 0.1% each in premarket activity, while the Dow Jones Industrial Average was off 0.2%. All three indexes logged new closing highs in the previous trading session.In a social media post on Monday, President Donald Trump said that talks with Iran were continuing "at a rapid pace." The post came after Trump told CNBC in an interview earlier on Monday that he "couldn't care less" if negotiations with Tehran failed.Iranian state-affiliated outlet Tasnim reportedly said Monday that the country suspended talks with Washington in retaliation to Israel's military action in Lebanon. In a separate social media post, Trump said he spoke to Israeli Prime Minister Benjamin Netanyahu and Iran-backed Hezbollah representatives, with both agreeing to stop the fighting."These shifting conditions alongside continued kinetic skirmishes between the parties are likely to further erode Iranian trust as officials have already cited the fluidity of priorities as a point of friction with Iran making clear that nuclear dialogue is contingent on successful negotiations to end the war and reopen the Strait of Hormuz," Tudor Pickering Holt said in a note on Monday.West Texas Intermediate crude oil declined 1.2% to $91.06 a barrel before the opening bell, while Brent decreased 1.1% to $93.90.Tuesday's thin economic calendar has the Job Openings and Labor Turnover Survey for April at 10 am ET. Federal Reserve Bank of Cleveland President Beth Hammack is scheduled to speak at 8:30 am.Treasury yields were down in premarket action, with the two-year rate retreating 3.9 basis points to 4.01% and the 10-year rate falling 4.7 basis points to 4.43%.Shares of Marvell Technology (MRVL) jumped 24% pre-bell after the company finished Monday trading with a 7% gain. Hewlett Packard Enterprise (HPE) rose 26% as the information technology firm lifted its full-year outlook and reported stronger-than-expected fiscal second-quarter results.Alphabet's (GOOG, GOOGL) class A and C shares declined more than 2% each as the Google parent disclosed plans to raise $80 billion in equity for artificial intelligence infrastructure expansion.Dollar General (DG), Donaldson (DCI), Victoria's Secret (VSCO) and Signet Jewelers (SIG) report their latest financial results before the bell, among others. Palo Alto Networks (PANW), Ulta Beauty (ULTA) and GitLab (GTLB) post earnings after the markets close.Gold gained 1.2% to $4,561 per troy ounce, while bitcoin dropped 2.7% to $69,539.

Dow JonesNasdaq CompositeS&P 500$DCI$DG$GOOG$GOOGL$GTLB$HPE$MRVL$PANW$SIG$ULTA$VSCO
Update: S&P 500 Companies' Earnings Grow 28% as Reporting Season Approaches End, Oppenheimer Says
US Markets

Update: S&P 500 Companies' Earnings Grow 28% as Reporting Season Approaches End, Oppenheimer Says

(Article updated to include consolidated revenue figures in the fourth paragraph, as confirmed by Oppenheimer.)S&P 500 companies' quarterly earnings growth held steady at nearly 28% compared with financials reported up until a week ago, putting the index on track to close out the most recent cycle well above estimates, Oppenheimer Asset Management said Monday.Some 97% of companies in the benchmark equity index have reported results this season, with earnings up 27.7% from a year earlier. Last week's report by the brokerage showed profit growth at 27.5%, based on figures reported by 95% of the index constituents.Heading into the cycle, FactSet put expected earnings growth at 12.6% year over year, Oppenheimer said.First-quarter revenue growth accelerated to 11.6% from last report's 11.1%."With May in the rearview mirror, two thirds of the second quarter is done," Oppenheimer Asset Management Chief Investment Strategist John Stoltzfus said in a note to clients. "Traders and investors will now navigate the six-week road ahead to S&P 500 (second-quarter) earnings season which won't really get underway until the big banks report results on July 14."Among sectors, technology and communication services outperformed in terms of earnings growth, with profits up by 50% and nearly 47% from a year earlier, respectively. Healthcare was the sole decliner.All 11 S&P sectors saw sales growth on an annual basis, led by technology, utilities and communication services, according to Oppenheimer's report.Hewlett Packard (HPE), Palo Alto Networks (PANW), Broadcom (AVGO) and CrowdStrike (CRWD) are slated to report quarterly results this week.Markets continue to track the latest developments around the Middle East conflict. Iran suspended talks with the US in retaliation to Israel's military action in Lebanon, CNBC reported Monday, citing Iranian state-affiliated outlet Tasnim."We do expect some kind of resolution to be arrived at because of the economic and geopolitical pressures put on both sides of the negotiation table tied to the collateral damage caused to economies around the world as a result of the current conflict," Stoltzfus said.Price: $47.38, Change: $+4.34, Percent Change: +10.08%

$AVGO$CRWD$HPE$PANW

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