U.S. Stocks Slip Despite Upbeat Private Payrolls Report; Palo Alto Networks Sinks on Weak Outlook

U.S. stocks moved slightly lower early Wednesday, despite a better-than-expected reading on private payrolls.
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U.S. stocks moved slightly lower early Wednesday, despite a better-than-expected reading on private payrolls. According to ADP, 177,000 private sector jobs were created in August, topping estimates of 175,000. The ADP report tends to foreshadow the government's jobs report on Friday. Palo Alto Networks (PANW) - Get Report shares fell six percent after issuing guidance of $0.51-$0.53 a share for its current quarter, ending in October, below forecasts of $0.56. Full year guidance topped estimates. Wine and spirits company Brown Forman (BF.B) saw its stock fall 1.1 percent after profit for its most recent quarter fell six percent year-over-year to $213 million. Revenue dropped five percent year-over-year to $661 million. TheStreet's Scott Gamm reports from Wall Street.