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After-hours buzz: PANW, CRM, TIME & more

A trader works on the floor of the New York Stock Exchange during the afternoon of May 7, 2014
Andrew Burton | Getty Images News | Getty Images
A trader works on the floor of the New York Stock Exchange during the afternoon of May 7, 2014

Check out which companies are making headlines after the bell on Tuesday:

Shares of Palo Alto Networks tanked more than 18 percent after hours following weak third-quarter guidance that missed analysts' estimates. The network security company reported that it was expecting earnings of 54 cents to 56 cents per share on revenue of $406 million to $416 million for the third quarter. Analysts had projected earnings of 70 cents per share on revenue of $454.6 million, according to Thomson Reuters consensus estimates.

Salesforce shares fell nearly 2 percent after the bell following weak first-quarter guidance. Although the cloud computing company had a fourth-quarter earnings beat, guidance was lighter than expected. Salesforce reported that it expects first-quarter earnings to be between 25 cents and 26 cents per share while analysts expected earnings of 30 cents per share, according to a Thomson Reuters consensus estimate.

Shares of Time ticked up more than 3 percent during extended trading after Bloomberg reported that Time has asked a number of suitors to submit their final acquisition offers by next week. According to the report, five parties have expressed interest in buying the company.

Etsy shares fell nearly 3 hours during after hours following a fourth-quarter loss. The online crafts store reported a quarterly loss of 19 cents per share on revenue of $110.2 million while the Street expected earnings of 2 cents a share on revenue of $108 million, according to a Thomson Reuters consensus estimate.