Yahoo Finance: Palo Alto stock surges after 'unique' Friday earnings release: 'Clearly, we have enjoyed the attention'
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Palo Alto Networks (PANW) stock rose more than 14% early Monday after the company's fourth quarter results topped Wall Street expectations, despite fears the company was planning to bury bad news with a Friday night earnings report.
"Our choice of Friday has definitely made us the topic du jour these past two weeks and has made for some very interesting reading of all the analyst notes," Palo Alto CEO Nikesh Arora told analysts during a conference call on Friday.
"We apologize to people who are inconvenienced, but as we had mentioned in our press release, we wanted to give ample time to analysts to have one-on-one calls with us over the weekend, and we have a sales conference that kicks off on Sunday.