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Cloudflare’s stock is sinking after revenue outlook disappoints investors
Cloudflare Inc.’s stock was free-falling in extended trading Thursday, following a quarterly report that was largely in line with analyst estimates but included a revenue outlook that fell short.MarketWatch - Business -
FirstFT: Apple sales beat expectations despite China decline
Also in today’s newsletter, a Hong Kong insider trading case, and US law firm Mayer Brown to hive off China operationsFinancial Times - World - China -
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Tech Stocks Lead Rally Ahead of Jobs Report
Fed Chair Powell’s remarks this week have renewed the focus on economic data.The Wall Street Journal - World -
Apple's quarterly iPhone sales plunge 10%, but stock price surges on dividend, stock buyback news
Apple has posted its steepest quarterly decline in iPhone sales since the pandemic’s outsetABC News - Tech -
Block’s stock shoots higher as Square parent boosts its earnings outlook
Also contributing was momentum across the company’s two main business areas, the Cash App mobile wallet and the Square merchant business.MarketWatch - Business -
Fortinet’s stock falls 8% after cybersecurity company’s quarterly billings drop
Shares of Fortinet Inc. fell 8% in the extended session Thursday after the cybersecurity company reported a better-than-expected first quarter and guidance that went beyond Wall Street forecasts, but billings were slightly off the mark.MarketWatch - Business -
South Korea's Kospi Rises 0.5% Internet, Chip Stocks Advance
South Korea’s benchmark Kospi rose 0.5% in early trade as internet and semiconductor stocks advance.The Wall Street Journal - World - South Korea -
Forget AI. Apple’s plan to restore confidence is a $110 billion stock buyback.
It’s been a rough year, but Apple shows confidence in itself and investors approve — for now.MarketWatch - Business -
GameStop stock climbs 17% for biggest gain since November, sparks memories of ‘crazy’ meme volatility
GameStop Corp. shares ended Thursday’s session up 17% as the videogame retailer and original meme stock registered its biggest daily percentage gain since Nov. 29, 2023, when it rose 20.46%, according to Dow Jones Market Data.MarketWatch - Business -
Amgen ‘very encouraged’ by preliminary data from weight-loss-drug trial, as stock jumps
Shares of Amgen Inc. rallied in the extended session Thursday after the drug maker posted adjusted earnings above expectations and executives said they are “very encouraged” by preliminary data from a trial of an injectable weight-loss drug.MarketWatch - Business