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Biz Break: Workday, Palo Alto Networks slip notwithstanding clever gain reports

Today: HIgh-flying program companies Workday and Palo Alto Networks tumble after benefit reports, as does networking organisation Brocade. Also: Apple hits record high, Tesla brings behind a former communications chief.

The Lead: Workday, Palo Alto Networks, Brocade recover earnings

After a few comparatively still weeks, Silicon Valley benefit deteriorate roared behind Monday with reports from dual fast-growing companies and a networking brave forward of Tuesday’s proclamation from Hewlett-Packard.

Two of Silicon Valley’s hottest program companies, Workday and Palo Alto Networks, simply kick benefit expectations Monday, though both still suffered in late trading. They were assimilated by San Jose networking association Brocade Communications, that also declined in after-hours movement notwithstanding an benefit beat.

Workday, a Pleasanton cloud-software association founded by former PeopleSoft executives, lost $59.9 million, or 33 cents a share, on sales of $215.1 million. The company’s income sum reflected year-over-year gains of some-more than 68 percent and beat expectations of about $205 million, while waste also simply surfaced forecasts after being practiced for one-time costs.

Palo Alto Networks reported sales expansion of 50 percent, with a detriment of $30.1 million, or 38 cents a share, on record sales of $192.3 million. The Santa Clara confidence association also kick sales expectations by about $10 million while simply commanding forecasts for practiced earnings.

Both companies suffered in after-hours trading, however, expected given of forecasts for a stream entertain and over that Wall Street considers too cautious. FBR Capital Markets researcher Daniel Ives pronounced in an email that even lifting a opinion was not adequate for Palo Alto Networks, as investors and analysts were anticipating for even more.

“The bulls might have been anticipating for even some-more of a ‘beat and raise’ that speaks to a knee-jerk greeting after hours,” Ives wrote, while also praising a company, observant it “yet again knocked a cover off a round with another clever entertain that kick Street expectations opposite a board.”

Brocade slightly kick expectations, posting boost of 19 cents a share on sales of $564 million, and also increasing a foresee for arriving sales.

Workday fell a hardest in after-hours trading, disappearing some-more than 7 percent after shutting with a 0.6 percent decrease during $92.49. Palo Alto Networks forsaken about 2 percent after finale a unchanging event with a 4 percent boost during $113.26, and Brocade mislaid about 25 cents a share after shutting with a 1.7 percent boost during $11.69.

Monday’s benefit reports served as a predecessor for HP’s earnings, that will be a initial news given the Palo Alto tech hulk announced in Oct that a association will be separate in two. Analysts design HP to announce practiced boost of $1.06 a share on sales of $28.8 billion, according to Thomson Reuters. Hewlett-Packard batch increasing 0.6 percent to $37.50 Monday.

SV150 marketplace report: Apple hits a record along with indexes

Wall Street’s runs of record highs continued Monday, and Apple assimilated in on a clever day for Silicon Valley stocks.

Apple again strike a top prices of all time Monday and approached a $700 million marketplace capitalization, interjection to a 1.9 percent daily benefit to $118.62. Investors seem to be betting on clever iPhone sales in a holiday deteriorate and a large entrance for a Apple Watch in 2015, even as some boost go to a munificent cause: Apple pronounced Sunday that a apportionment of a sales on Black Friday and Dec. 1 will be donated to a HIV/AIDS gift (RED), as will sales of specific apps in a Cupertino company’s App Store. Apple has a prolonged story with a charity, though CEO Tim Cook pronounced in Sunday’s announcement that a stream debate will be “our biggest fundraising pull yet.” Apple hopes business will see hospitality as a clever reason to buy a products true from Apple, as other retailers will offer improved Black Friday deals on Apple hardware.

Tesla Motors combined 1.6 percent to $246.72 after luring behind a former communications chief, that was reported by Bloomberg News on Monday morning and confirmed after on Twitter by CEO Elon Musk. Symantec exposed clever malware called “Regin” that might have been grown by state-sponsored hackers, and a Mountain View confidence firm’s batch jumped 1.9 percent to $25.80. Credit Suisse wrote in a note that Oracle should cruise a breakup identical to skeleton by HP and Symantec, and a Redwood City program organisation mislaid a penny to $41.43. Google gained 0.3 percent to $547.48 while settling a lawsuit with a Morgan Stanley banker and watchful to see if legislation job for a dissection of a Mountain View Internet giant is introduced in Europe’s council this week.

Up: GoPro, SolarCity, AMD, SanDisk, Symantec, Intel, Apple, Pandora, Applied Materials, Tesla, Yahoo, Yelp, LinkedIn

Down: Netflix, SunPower, Workday, Zynga, VMware

The SV150 index of Silicon Valley’s largest tech companies: Up 15.83, or 0.94 percent, to 1,692.24

The tech-heavy Nasdaq combination index: Up 41.92, or 0.89 percent, to 4,754.89

The blue chip Dow Jones industrial average: Up 7.84, or 0.04 percent, to 17,817.9

And a widely watched Standard Poor’s 500 index: Up 5.91, or 0.29 percent, to 2,069.41

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Article source: http://www.mercurynews.com/business/ci_27004793/biz-break-workday-palo-alto-networks-slide-despite

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