Kevin Mandia testifies during a Senate Intelligence Committee hearing on Capitol Hill on February 23, 2021 in Washington, DC. Drew Angerer | Getty Images Amazon said Kevin Mandia, the founder and former CEO of cybersecurity company Mandiant, is joining its board of directors. In a blog post on Wednesday, Amazon referred to Mandia as a…
Corning and Qualcomm rallied on Tuesday and brought a host of AI-related stocks along with them, as a pair of infrastructure deals lifted Wall Street’s confidence that data center spending will remain strong. Chipmakers Intel and Advanced Micro Devices gained 9% and 6% respectively, while Hewlett Packard Enterprise climbed 8% and photonics company Coherent added…
Mustafau | Istock | Getty Images The stakes have never been higher for senior cybersecurity leaders at top companies. “It feels like my job has doubled or quadrupled,” said Wally Dalrymple, chief security officer at global education and talent solutions firm ETS. “It’s coming at us so fast and at such large volumes,” he said….
Stocks kicked off September on shaky footing as higher oil prices and Treasury yields tested investors’ appetite for some of the market’s biggest artificial intelligence winners. For the week, the S & P 500 eked out a 0.1% gain, while the Nasdaq gained 0.4%, recovering from a rough start to the historically difficult month of…
Zscaler stock soared on Thursday after the cloud security company beat Wall Street’s fiscal fourth-quarter estimates as rising artificial intelligence risk spurred urgent demand for cyber tools. Here’s how the company performed compared to LSEG estimates: Earnings per share: $1.19 adjusted vs. $1.09 expected Revenue: $898 million vs. $877 million expected Revenue jumped 25% from…
Palo Alto Networks CEO Nikesh Arora said Tuesday that AI is forcing companies to overhaul roughly $1 trillion of aging cybersecurity infrastructure built for a pre-AI world. “Nothing that was deployed seven or 10 years ago is prepared or ready to handle AI at machine speed,” Arora told CNBC’s Jim Cramer on “Mad Money.” “You…
Palo Alto Networks surpassed fiscal fourth-quarter estimates as mounting artificial intelligence risks boost demand for its cybersecurity tools. Shares added about 2% in extended trading, following a 5% drop during regular trading. Here’s how the company did versus LSEG estimates: Earnings per share: $1.02 adjusted vs. 98 cents expected Revenue: $3.41 billion vs. $3.35 billion…
We are selling 40 shares of Palo Alto Networks at roughly $377 per share. Following the trade, Jim Cramer’s Charitable Trust will own 160 shares of Palo Alto, reducing its portfolio weighting to 1.5% from 1.9%. Cybersecurity stocks are a bright spot Monday following a post by Dwarkesh Patel, the influential AI podcaster and writer,…
As one AI chipmaker leaves the earnings spotlight, another one enters this week. The evolving cybersecurity landscape and the labor market will also be in focus. Here’s an in-depth look at three big things we’re watching this week. 1. Earnings: Broadcom and Palo Alto Networks are the two Club names on the earnings docket. Both…
This week’s impressive earnings results showed that the AI buildout is not a zero-sum game: both hardware and software stocks can win. The tech-heavy Nasdaq Composite and the S & P 500 gained 0.9% and 0.5%, respectively, while the blue-chip Dow Jones Industrial Average added 0.5%, marking its first winning week in three. Much of…
