Palo Alto Networks Inc (NYSE:PANW, ETR:5AP) is reportedly in discussions to acquire CyberArk Software (NASDAQ:CYBR) in a deal worth about $20 billion, a move that analysts say could reshape the cybersecurity landscape and accelerate Palo Alto’s strategy to become an end-to-end platform provider.
Shares of CyberArk surged 11.5% on Tuesday afternoon following the Wall Street Journal report, while Palo Alto shares dropped around 5%.
Coach parent Tapestry Inc (NYSE:TPR) has been downgraded by Bank of America to ‘Neutral,’ with the bank citing limited upside following a 66% surge in the stock so far this year.
While analysts at BofA maintained confidence in the growth momentum at the company’s flagship Coach brand, they said the recent rally has pushed shares near fair value.
Air Canada (TSX:AC.B) shares tumbled more than 13% after the airline reported a significant drop in income for the second quarter as profitability was pressured by broader economic uncertainty and international conflicts.
The company reported net income of C$186 million, down from C$410 million for the same period in 2024.
Union Pacific Corp (NYSE:UNP, ETR:UNP) and Norfolk Southern Corp (NYSE:NSC) have agreed to merge in an $85 billion cash-and-stock transaction that will create the first fully transcontinental railroad in the United States.
The deal, unanimously approved by both companies' boards of directors, is expected to close by early 2027, pending regulatory and shareholder approvals.
Sarepta Therapeutics Inc (NASDAQ:SRPT) shares jumped 25% at the open on Tuesday after the US Food and Drug Administration recommended the company lift a voluntary pause on shipments of its gene therapy ELEVIDYS for ambulatory Duchenne muscular dystrophy (DMD) patients.
The regulator’s move follows its determination that the death of an eight-year-old patient in Brazil, which had prompted a temporary halt, was unrelated to the therapy. The patient’s death on July 25, was attributed to complications from a severe flu infection and immunosuppression, according to media reports and company disclosures.
PayPal Holdings Inc (NASDAQ:PYPL, ETR:2PP) topped Wall Street estimates for second-quarter earnings and revenue on Tuesday and raised its full-year profit forecast, as strong growth in branded checkout and Venmo helped boost payment volumes.
Non-GAAP earnings per share rose 18% to $1.40, above analysts’ average estimate of $1.30, while revenue climbed 5% year-over-year to $8.29 billion, exceeding expectations of $8.09 billion.
Spotify Technology SA (NYSE:SPOT)’s US-listed shares fell premarket as the streaming giant reported a miss for both revenue and earnings for the second quarter.
The Stockholm, Sweden-based company posted a loss of €0.42 per share, compared to earnings per share (EPS) of €1.37 in the year-ago period and far below Wall Street estimates of EPS of €1.97.
UnitedHealth Group Inc (NYSE:UNH, ETR:UNH) reported second-quarter earnings that fell short of Wall Street expectations and reinstated a full-year forecast well below consensus.
The company posted adjusted earnings of $4.08 per share for the quarter ended June 30, significantly below analysts' estimates of $4.45, and marking a 14% decline from a year earlier. Earnings from operations also fell 34% to $5.2 billion, while net margin narrowed by 120 basis points to 3.1%.