Market Overview

Monday's After-Hours Movers: Palo Alto, Brocade, Dycom And YY

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Shares of Palo Alto Networks Inc (NYSE: PANW) were trading up about 0.3 percent in Monday’s after-hours session, following the announcement of the company’s first quarter fiscal 2016 financial results. The mid-cap security company reported estimate beating earnings of $0.35 per share and revenue of $297.2 million versus the Street’s consensus of $0.32 per share and $283.87 million and guidance of $0.32 per share and $282 million.

Brocade Communications Systems, Inc. (NASDAQ: BRCD) lost more than 8 percent after the bell rang. The Smid-cap networking equipment supplier delivered fourth quarter earnings of $0.26 per share on revenue of $588.83 million, above the Street’s consensus estimate of $0.24 per share and $574.73 million. The beat was overshadowed by weak guidance for the first quarter of 2016, as management is projecting first quarter revenue in the $550 million to $570 million range, and EPS of $0.23-$0.25, below consensus of $584.11 million and $0.27.

Dycom Industries, Inc. (NYSE: DY) rose roughly 3 percent. The small-cap company reported first quarter earnings of $1.24 per share on revenue of $659.27 million. Management had guided for earnings of $1.00 per share on sales of $625 million, while the Street was modeling EPS of $1.01 on revenue of $625.72 million.

YY Inc (ADR) (NASDAQ: YY) was down more than 4 percent in Monday’s after-hours session. Although the Internet company reported sales of $234.43 million, above the Street’s consensus of $230 million, earnings of $0.71 per share missed experts’ estimates which called for earnings of $0.77 per share.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

Posted-In: Earnings News After-Hours Center Tech

 

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