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Fortinet (FTNT) issued underwhelming guidance late Thursday as it reported Q3 earnings, triggering a sharp sell-off in most cybersecurity stocks Friday, including FireEye (FEYE) and Palo Alto Networks (PANW) on Friday. The Sunnyvale, Calif.-based Fortinet earned 14 cents a share in the third quarter, up 16.7% from a year earlier and beating by two cents estimates of analysts polled by Thomson Reuters. Revenue rose 34.5% to $260.1 million, topping Scalper1 News
Scalper1 News