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Wednesday's Pre-Market: Palo Alto Networks, Walmart buying Vizio, Nikki Haley, Zee-Sony's merger, and Alibaba

  • Writer: Mathieu Desfosses
    Mathieu Desfosses
  • Feb 21, 2024
  • 2 min read

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Palo Alto Networks shares plunge after company cuts full-year billings, revenue guidance


  • Palo Alto Networks shares plunged after the company lowered its full-year guidance.

  • The cybersecurity firm reported a beat on the top and bottom lines but guided to slower year-over-year growth in total billings and revenue.

  • The company also issued guidance for the upcoming quarter that was below analyst expectations.


Walmart to buy TV maker Vizio for $2.3 billion in move to grow its ad business


  • Walmart is buying TV maker Vizio for $2.3 billion in cash.

  • The move is a bid to boost the big-box retailer’s high-margin ad business.

  • Walmart has long been a major seller of Vizio’s TVs.


Nikki Haley vows to stay in 2024 race, after raising $16.5 million in January


  • Nikki Haley said she has no intention of dropping out of the 2024 race, despite pressure from Donald Trump’s campaign and daunting poll numbers in her home state of South Carolina, site of the next Republican primary

  • Haley’s persistence in the face of tough odds suggests she has both the will and the funding to keep herself in the primary.

  • Haley has vowed to stay in the race through Super Tuesday, March 5.


India’s Zee Entertainment pops 10% on report that $10 billion merger with Sony is being revived


  • Shares of India’s Zee Entertainment jumped more than 10% on Tuesday after a report that its $10 billion merger with Japanese tech giant Sony was being revived.

  • The Economic Times, an Indian news publication, reported on Tuesday that Zee had re-engaged with Sony in a last-ditch attempt to salvage the deal, which was officially called off last month.

  • Sony first proposed to combine its India entertainment business with Zee in December 2021. Those negotiations collapsed after more than two years.


Alibaba bets on overseas e-commerce unit amid sluggish growth in China


  • One bright spot in Alibaba’s recent December quarter earnings was its international e-commerce business unit which saw revenue increase 44% from a year ago.

  • Alibaba International Digital Commerce Group includes platforms like AliExpress, Lazada, Daraz and Trendyol.

  • Meanwhile, revenue from domestic businesses Taobao and Tmall Group grew only 2% year-over-year.



 
 
 

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