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Vipshop Holdings (VIPS) American depository receipts (ADRs) plunged in intraday trading Tuesday after the Chinese discount retailer reported falling second-quarter sales and an underwhelming outlook.

The company reported quarterly revenue of 26.88 billion yuan ($3.7 billion), down 3.6% year-over-year but above expectations, per Visible Alpha. Total orders dropped to 197.8 million from 213.8 million a year earlier. 

Chief Executive Officer (CEO) Eric Shen said the company's Q2 results "reflected the agility of our team and the resilience of our business model, as we achieved operational excellence in the face of slower sales momentum."

Vipshop projected third-quarter revenue between 20.5 billion and 21.6 billion yuan, a year-over-year decline of 10% to 5%, respectively, and below analysts' consensus of 22.7 billion yuan. 

Vipshop ADRs dropped more than 16% to $11.70 as of 12:45 p.m. ET Tuesday. They have lost more than a third of their value this year.

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Palo Alto Networks (PANW) shares jumped during intraday trading Tuesday after the cybersecurity company reported stronger-than-expected earnings amid its ongoing "platformization" efforts.

Shares of Palo Alto Networks rose nearly 9% Tuesday morning, contributing to their more than 25% year-to-date gain.

Several analysts lifted their price targets on Palo Alto's stock following the strong quarterly results. They noted the company's platformization-related sales strength, early artificial intelligence (AI) gains, and the impact of last month's CrowdStrike (CRWD) outage.

Palo Alto Networks provided investors with updates about its platformizaton strategy, where it consolidates its cybersecurity services on its platform and bundles offers to support sales. The company also noted early gains from its integration of AI.

Jefferies analysts lifted their target for the stock to $400 from $365, saying that "most importantly" the company "continues to take share via consolidation."

Citi analysts, who raised their target to $395 from $385, highlighted that Palo Alto Networks showed investors "tangible platformization proof points."

The cybersecurity provider reported that platformization momentum accelerated during the fiscal fourth quarter with the number of consolidated deals up 50%.

Palo Alto Networks' early gains from AI integration also caught analysts' attention.

J.P. Morgan analysts said the company showcased "early momentum in AI" with its AI-infused cybersecurity offerings. The analysts lifted their price target to $387 from $365.

Citi analysts said Palo Alto Networks represents a "GenAI story with real-teeth."

Analysts have indicated that Palo Alto Networks along with other competitors like SentinelOne (S) could gain customers leaving CrowdStrike after a faulty update last month caused a global tech outage and cost clients billions.

"The recent outage has caused a number of customers to reevaluate their options," Palo Alto Networks CEO Nikesh Arora said in the company's earnings call.

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Boeing (BA) has found cracks in the structure of its 777X jetliner in initial test flights, another mishap for the carrier this year.

The plane maker said it is grounding its 777X test fleet after an inspection showed the failure of a key engine mounting structure.

"During scheduled maintenance, we identified a component that did not perform as designed," a Boeing spokesperson said in a statement provided to. "Our team is replacing the part and capturing any learnings from the component and will resume flight testing when ready."

The news of the cracks in the jet was first reported by trade publication

Boeing shares, which are falling 1.5% in premarket trading, are down more than 30% this year as the airplane maker grapples with a series of setbacks since a door plug detached during an Alaska Airlines (ALK) flight in January, leading the Federal Aviation Administration (FAA) to ground expansion plans for its best-selling 737 MAX.

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Media executive Edgar Bronfman Jr. has reportedly submitted a formal $4.3 billion bid for National Amusements, the controlling shareholder of Paramount Global (PARA), after Skydance Media struck a deal for Shari Redstone's media empire last month.

According to , Bronfman's offer for National Amusements is similar in price to Skydance's, but apart from a $400 million breakup fee, a key difference is that there would be no dilution for Paramount shareholders, as it isn't an all-stock bid.

Bronfman has secured financing from high-net-worth individuals and family offices, and is teaming up with movie producer Steven Paul, the report said.

The reported bid by Bronfman comes as a 45-day "go-shop period" that allows Paramount to seek a better offer expires Wednesday.

Bronfman's is the latest in a series of offers for control of Paramount in recent months. The entertainment firm, which owns CBS, MTV, and its eponymous movie studio, has been struggling as the rise of streamers like Netflix (NFLX) disrupt traditional networks.

Paramount shares are down about 3% an hour before the opening bell Tuesday. 

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