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December 21, 2022 by No Comments

Motley Fool

Why CrowdStrike, Palo Alto Networks, and Fortinet Fell Today

Shares of cybersecurity software stocks CrowdStrike (NASDAQ: CRWD), Palo Alto Networks (NASDAQ: PANW), and Fortinet (NASDAQ: FTNT) were falling today, down 2.1%, 1.1%, and 1.3% as of 1:49 p.m. ET, even though the broader Nasdaq Composite was up by about 1.5% at that time. Yesterday, Palo Alto announced the closing of its acquisition of Cider Security, a leader in software application protection. On Tuesday night, cybersecurity peer BlackBerry had its fiscal third-quarter earnings report, in which management noted some caution in closing large cybersecurity deals in the near term, as sales cycles have become “elongated,” which is a fancy term for customers being slower to sign off on purchases.

Source: https://news.google.com/__i/rss/rd/articles/CBMiU2h0dHBzOi8vd3d3LnlhaG9vLmNvbS9ub3cvYW1lcmljYW5zLXJlcG9ydC1kZWNsaW5lLW9wdGltaXNtLWZpbmFuY2VzLTE0MDcwMDEzOS5odG1s0gFgaHR0cHM6Ly9maW5hbmNlLnlhaG9vLmNvbS9hbXBodG1sL25ld3MvYW1lcmljYW5zLXJlcG9ydC1kZWNsaW5lLW9wdGltaXNtLWZpbmFuY2VzLTE0MDcwMDEzOS5odG1s?oc=5

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