Palo Alto Networks Rallies Off Q1 Beat

Palo Alto Networks

shares are trading higher $8 at $180.02 in Tuesday's session. The catalyst for the rally is a Q1 beat of $0.03 with $13 more in sales than Street estimates. After a sharply higher open, it continued to rally until it found resistance at $185.10 and reversed course. That level coincides with its September 25 high ($184.88). Since reaching that elevlated profit takers have come in a big way. So far, it has taken the issue in the $179 handle, but still remains above the early morning low of $178.47.

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