Palo Alto Is Leading the Nasdaq Higher, but 1 Biotech Is Getting Crushed Wednesday

The broader stock market has entered an official 10% correction, but for investors focusing on the Nasdaq Composite (NASDAQINDEX: ^IXIC), double-digit declines from recent highs are nothing new. On Wednesday morning, though, Nasdaq investors saw a little light at the end of a long, dark tunnel, with futures on the index rising more than 1% as of 8:30 a.m. ET.

There's even more volatility lurking under the surface of major stock market indexes, with good news celebrated but bad news punished. That was the case in premarket trading Wednesday morning, as Palo Alto Networks (NASDAQ: PANW) helped contribute to the Nasdaq's gains. However, another Nasdaq stock in the biotechnology industry crashed hard after shareholders heard clinical study results they definitely didn't expect. The name of that stock will be revealed below, but first, here's more on what Palo Alto said.

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Source Fool.com