Palo Alto Networks late Wednesday posted accelerating earnings growth that topped fiscal Q3 forecasts, and it acquired another company to further boost security capabilities and tap new opportunities. The Santa Clara, Calif.-based network security company’s earnings per share excluding items soared 109% to 23 cents, beating views by 3 cents. That’s up from 90%, 88% and 83% gains in the prior three quarters. Revenue leapt 55% to
Amid a cutthroat price war in China’s $116 billion travel market, Expedia cut its losses Friday and shed its majority stake in eLong, potentially allowing rival Ctrip International to tighten its grip on the country’s booming online booking sector. Expedia sold its 62.4% stake in the struggling Chinese online travel agency (OTA) for $671 million. Ctrip (CTRP) picked up a 37.6% stake in eLong for $400 million. Ctrip shares leapt 18%
E-commerce company Shopify on Thursday provided some much-needed oxygen to the IPO market with a soaring debut. Shopify (SHOP) offered 7.7 million shares at 17, above its expected range of 14 to 16, raising $131 million. The stock closed at 25.68, up 51%, and has a market valuation near $2 billion. Shopify provides a cloud-based e-commerce platform that businesses use to build websites and sell goods online and across multiple