On this episode of Stock Movers:
- Palo Alto Networks (PANW) shares are lower as it agreed to buy CyberArk Software Ltd. in a cash-and-stock deal valuing the Israeli cybersecurity company at about $25 billion. The companies said the value implies a 26% premium to CyberArk shares on a volume weighted average over 10 days before the Wall Street Journal reported on the acquisition talks.
- Coinbase (COIN) shares are moving on news JPMorgan and Coinbase signed an agreement to directly link customers' bank accounts to their cryptocurrency wallets. The deal establishes a direct connection between Chase bank accounts and Coinbase crypto wallets, expected to go live next year, and allows customers to fund Coinbase accounts with their Chase credit cards.
- Microsoft (MSFT) shares are on the move ahead of earnings. Bloomberg Intelligence writes: Microsoft's critical software portfolio and AI sales "could offset weakness due to rising economic uncertainty in other business areas, such as non-AI cloud spending, advertising and seat growth in Office."