Home Technology Market News: Envivio, Shilo Industries, Palo Alto Networks

Market News: Envivio, Shilo Industries, Palo Alto Networks

The stock markets in the United States recovered amid a light volume and a week prior to the meeting of the Federal Open Market Committee (FOMC), which is expected to decide regarding the timing of the interest rate hike.

Sign up for our free newsletter

Yesterday, the U.S. equity markets dropped. Analysts suggested that the market volatility persists.

In an interview with Bloomberg, Dan McMahon, director of institutional equity trading at Raymond James and Associates noted the lack of volume or liquidity in the market. He commented, “People are on the sidelines, and you get these violent moves and you don’t know what’s behind them, there’s really no rhyme or reason, so it’s very difficult to make a rational decision in this kind of environment.”

The Department of Labor reported that the number of people who applied for unemployment benefits declined 6,000 top 275,000 for the week ended September 5. The figure demonstrated the continued improvement of the labor market.


Yesterday, the agency reported that the number of job openings increased to 5.8 million in July. Employers appear to be experiencing difficulty in hiring qualified employees amid a strengthening labor market.

Meanwhile, policymakers at the Bank of England (BOE) kept its main interest rates at 0.5%. The BOE stated that the market turmoil caused by concerns regarding China’s economic slowdown had “the potential to add to the global headwinds to U.K. growth and inflation.” The BOE added that these developments need “close monitoring.”

U.S. Markets

  • Dow Jones Industrial Average (DJIA) – 16,292.15 (+0.24%)
  • S&P 500- 1,947.26 (+0.27%)
  • NASDAQ- 4,783.75 (+0.57%)
  • Russell 2000- 1,151.24 (+0.26%)

European Markets

  • EURO STOXX 50 Price EUR- 3,221.14 (-1.49%)
  • FTSE 100 Index- 6,155.81 (-1.18%)
  • Deutsche Borse AG German Stock Index DAX- 10,210.44 (-0.90%)

Asia-Pacific Markets

  • Nikkei 225- 18,299.62 (-2.51%)
  • Hong Kong Hang Seng Index- 21,562.50 (-2.57%)
  • Shanghai Shenzhen CSI 300 Index- 3,357.56 (-1.23 %)

Stocks in Focus

The stock price of Envivio surged more than 113% to $4.06 per share, the biggest gainer among the companies trading on NASDAQ. The software-based Internet protocol (IP) video processing and distribution solutions provider agreed to be acquired by Ericsson.

Shiloh Industries declined more than 16% to $9.15 per share. The company is under investigation by the Law Officer of Howard G. Smith on behalf of investors. The law firm aims to find out whether Shiloh Industries violated federal securities laws in connection with its internal probe into possible accounting issues.

The stock value of Palo Alto Networks jumped more than 7% to $177.40 per share. The company posted a 59% increase in revenue to $283.9 million in the fourth quarter. Its adjusted net income was $25 million or $0.28 per share, up from $0.11 per share in the same period a year ago.