Key Highlights

● Gen Digital reported growth in both revenue and bookings.

● The company raised its full-year outlook.

● Gen Digital owns Norton, Avast and MoneyLion.

● The gain stood out against weak enterprise software names.

Gen Digital shares climbed sharply in extended trading on Wednesday, October 28, after the consumer cybersecurity company lifted its full-year forecast.

Gen Digital (NASDAQ:GEN) jumped after the closing bell after the company behind Norton and Avast reported growth in revenue and bookings, higher earnings and a raised outlook for the full year, according to a closing recap. The gain made the S&P 500 member a standout in a session where several other software names tumbled after their reports.

Growth Across the Board

Gen Digital sells consumer cybersecurity and identity-protection products, including antivirus software, VPNs, identity-theft monitoring and, through its MoneyLion acquisition, financial tools. Most of its revenue comes from subscriptions, which makes bookings, a measure of new and renewed sales, a key indicator of future revenue.

The company reported growth in both revenue and bookings, and its earnings rose, according to the recap. Raising its full-year outlook signaled management's confidence that the momentum will carry into the rest of the fiscal year.

A Split in Software

Gen Digital's rise contrasted sharply with other software and security names. Fortinet (NASDAQ:FTNT), which sells cybersecurity products mainly to businesses, plunged in extended trading after its report; one market recap said its gross margin fell short of expectations, while another described the results as solid. ServiceNow (NYSE:NOW) also tumbled after the bell after its results and guidance underwhelmed.

That split suggested investors were sorting carefully between companies, rewarding those that delivered growth and raised targets and selling those that missed on key metrics. Earlier in the regular session, F5 (NASDAQ:FFIV), another network-security company, tumbled after its fiscal 2027 growth guidance and a downgrade from Piper Sandler to Neutral.

Fed and the Market

The Federal Reserve left its benchmark rate range unchanged on Wednesday in a 10-2 vote. Long-dated Treasury yields climbed, with the 10-year pushing past a key psychological threshold.

The S&P 500 closed at 7,743.98, up 21.38 points, for a third straight gain. Technology led the S&P 500's sectors, driven mainly by semiconductors; the Philadelphia Semiconductor Index rose for a fourth straight day to 11,684.00. After the bell, Microsoft (NASDAQ:MSFT) rose on an earnings beat while Alphabet (NASDAQ:GOOGL) slid sharply after missing estimates.

What to Watch

Investors will look to Gen Digital's management for detail on customer counts, pricing, the performance of its financial wellness products and what drove the raised outlook.

The broader market faces a busy Thursday, October 29. The advance estimate of third-quarter GDP and September PCE inflation data arrive at 8:30 a.m. ET. Mastercard (NYSE:MA), Merck (NYSE:MRK) and Caterpillar (NYSE:CAT) report before the open, and Amazon (NASDAQ:AMZN) reports after the close.