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Benzinga

Business

Henry Khederian

What's Going On With Palo Alto Networks Stock Wednesday?

Palo Alto Networks Oracle PANW Palo Alto Oracle Corp

Q4 Outperformance

Palo Alto Networks Inc (NASDAQ:PANW) shares are trading marginally higher Wednesday morning as investors potentially see a favorable read-through from Oracle Corp’s blockbuster earnings report. While Oracle missed quarterly estimates, its stock soared over 30% on the back of a stunning forecast for its cloud business.

What To Know: Oracle's executives highlighted an incredible 1,529% growth in multi-cloud database revenue and projected its cloud infrastructure revenue will grow exponentially in the coming years. This signals a massive wave of enterprise spending dedicated to building out cloud and multi-cloud environments.

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One subscription that gives you access to news from hundreds of sites

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Brazil's Lula accuses social media giant Meta of election interference amid tight run-off campaign

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