=== MARKET IMPLICATIONS === - The significant negative reaction to PANW's profit guidance cut, despite a revenue outlook raise, indicates the market is highly sensitive to profitability and margin pressure in the high-valuation software sector. This could create headwinds for other cybersecurity and software-as-a-service (SaaS) stocks. - The market is rewarding company-specific positive catalysts, as seen in the sharp upward moves for TCMD (strong guidance) and Ovintiv (asset sale). This suggests that despite macro-level events like the FOMC minutes, fundamental execution and strategic actions are key drivers of individual stock performance. - The muted pre-market action in DASH suggests significant investor uncertainty heading into its earnings report. The results will be a key indicator for the health of the consumer and the gig economy sector. - Analyst Adam Turnquist's view that the recent software sell-off was "overly punitive" presents a contrarian viewpoint to the PANW news. While PANW is being punished, he suggests the broader sector may be oversold, creating potential opportunities for investors with a longer-term horizon who believe fundamentals remain supportive.