BUZZ-Palo Alto Networks falls after two-for-one stock split
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Palo Alto Networks (PANW) shares fell 5.5% in extended trading following a two-for-one stock split announcement. Stockholders of record as of December 12 will receive an additional share for each share held after trading closes on December 13, with trading on a split-adjusted basis starting December 16. The company has raised its fiscal 2025 revenue forecast to $6.12 billion to $6.17 billion, up from $6.10 billion to $6.15 billion, as it bets on its "platformization" strategy to drive growth. Year-to-date, PANW shares are up 31%.
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