All posts in Stock Market Updates

Cloudflare shares rose on Friday after June quarter earnings and revenue beat estimates amid strong customer growth. X Based in San Francisco Cloudflare (NET) reported second-quarter earnings after the market closed Thursday. Cloudflare shares soared 27.1% to close at 74.24 on the stock market today. In Cloudflare’s earnings report, the stock had retreated 55% in 2022. “NET delivered a strong 2Q, highlighted by 54% revenue growth, higher revenue guidance for 2022 and continued expectations of positive free cash flow in the second half of 2022,” said Cowen analyst Shaul Eyal in a note to clients. NET Stock: Seven quarters of…

E-commerce giant Amazon (AMZN) announced a purchase agreement on Friday iRobot (IRBT), maker of home cleaning robots like Roomba vacuum cleaners, for $1.7 billion in cash. Amazon shares fell on the news while iRobot shares soared. X Seattle-based Amazon said it will pay $61 a share for Bedford, Mass.-based iRobot. The deal is subject to customary closing conditions, including the approval of iRobot stockholders and regulatory approvals. In trading today, iRobot shares rose 19.1% to 59.54. It ended Thursday’s regular session unchanged at 49.99. Meanwhile, Amazon shares fell 1.2% on Friday to close at 140.80. Special Roomba Hot Prime Day…

US equity futures are mixed ahead of the most anticipated economic report of the month. The main futures indices trade between gains and losses. Oil traded choppy on Friday, attempting a rally from the previous session as concerns over supply shortages outweighed fuel demand concerns. West Texas Intermediate crude was trading around $89.00 a barrel. Brent crude was at $94.00 a barrel. The week’s key economic report comes before the opening bell when the Labor Department is expected to say the US economy added 250,000 new nonfarm jobs in July. “It’s not going to be like the 372,000 we saw…

By Greg Goldfarb Contributing writer Look at it this way: A municipal government’s bond rating is like a person’s credit score: the better it is, the more you can do. In the case of the city of Suffolk, its credit is excellent, which means that when city officials need to borrow money for community improvements and development, there is no problem. “Having a strong bond rating allows the city to borrow money for capital improvements at the lowest interest rates available in the financial market, saving the city and its taxpayers millions of dollars in loan payments interest over time,”…

Rumors that Pfizer (PFE) is in “advanced discussions” to acquire Global blood therapy (GBT) worth about $5 billion sent shares of GBT down for the second day in a row on Friday. X Global Blood Therapeutics makes a sickle cell disease treatment called Oxbryta for patients 4 years and older. According to the Wall Street Journal, Pfizer is ready to end the deal for Global Blood in the next few days. However, there are other suitors in the mix and the deal is not set in stone. Pfizer representatives did not immediately return a request for comment. A spokesman for…

Stock market next week: Last week was another one that belonged entirely to the bulls. In the five trading sessions of the past week, the bears struggled to make their presence felt on Dalal Street, but each time the bulls managed to recover. As a result, the magnitude of the weekly rise was small, but the direction remained positive. “The Nifty 50 index rose over 1 percent (1.39 percent to be exact) to close near the 17,400 mark. The weekly line chart of Nifty has now confirmed a break of the trend line at the decline and this indicates a…