Morning Commentary: Palo Alto Networks continues to ride good news, Servicenow active

By Abigail W. Adams

Portland, Me., Nov. 27 – Palo Alto Networks Inc.’s 0% convertible notes due 2019 continued to be active in early trading.

The notes were active on black Friday and gained about 0.5 points to trade at 142.76 early in Monday’s session, according to Trace data. The company’s stock was also up 0.81% to $151.86 in early trades.

Palo Alto’s convertible notes were heavily traded on Nov. 21 after the company’s released a first quarter earnings report that beat analysts’ expectations.

The company announced that it will showcase the cloud security features of its Next Generation Security Platform at the Amazon Web Services Re:invent conference this week. The cloud-based subscription offerings of the Next Generation Security Platform will be a driving force of future growth, according to the company’s 10-Q.

Fellow cloud-computing company Servicenow Inc. was also active in early trades with the company’s 0% convertible notes due 2018 climbing about 0.5 points to trade at 174.067 early in the session, according to Trace data.

The company’s stock was down 0.52% to trade at $127.6325 early in the session.

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