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35 stories mentioning NETUpdated 11d ago

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Sectors

Sector Update: Tech Stocks Rise Premarket Friday

Technology stocks were rising premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) 1.2% higher and the State Street SPDR S&P Semiconductor ETF (XSD) up 2.1%.Sony Group (SONY) stock was up more than 2% after the company posted higher fiscal Q4 sales.Cloudflare (NET) shares were down more than 15% after the company said it expects to reduce its workforce by about 1,100 people as part of a planned restructuring.Iren (IREN) secured a five-year AI infrastructure cloud services contract with Nvidia (NVDA) worth $3.4 billion, the company said. Iren shares were up more than 15% premarket.

$IREN$NET$SONY$XLK$XSD
Asia Markets

US Equity Futures Gain Pre-Bell as Trump Says Ceasefire Still in Effect Despite Skirmish in Strait of Hormuz

US equity futures were edging higher pre-bell Friday as traders continued to monitor developments in the Middle East conflict, with the US and Iran exchanging fire, while President Donald Trump said the ceasefire was still in effect.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.The US and Iran traded fire in the Strait of Hormuz, with each side claiming that the other started the attack. In a post on Truth Social, Trump said there was no damage done to three Destroyer vessels, but "great damage" to Iranian boats. "We'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!" he added.Trump told reporters that the ceasefire was still in effect. The US is still waiting for Iran's response to its proposal to end the war and postpone nuclear talks to a later date.Traders absorbed the latest round of earnings, with Enbridge (ENB) reporting lower Q1 adjusted earnings amid higher revenue and Brookfield Asset Management (BAM) posting increases in Q1 distributable earnings and revenue.Oil prices were largely unchanged, with front-month global benchmark North Sea Brent crude flat at $100.10 per barrel and US West Texas Intermediate crude also flat at $94.79 per barrel.The April national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for May, slated for 10 am ET, is expected at 49.5, down from 49.8 previously.There will be a panel discussion featuring Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, San Francisco Fed President Mary Daly, and Chicago Fed President Austan Goolsbee at 7:30 pm ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, Cloudflare (NET) shares fell 16% after the company said it expected to reduce its workforce by about 1,100 people as part of a planned restructuring, as well as incurring charges of $140 million to $150 million in connection with the plan. CoreWeave (CRWV) stock was down 6.1% after the company reported a wider-than-expected Q1 net loss. HubSpot (HUBS) shares dropped 24% after the company issued lower-than-expected Q2 revenue guidance.On the winning side, Sony (SONY) stock was up 2.9% after the company's subsidiary Sony Semiconductor Solutions and Taiwan Semiconductor Manufacturing (TSM) said they signed a non-binding memorandum of understanding to create a strategic partnership focused on developing and manufacturing next-generation image sensors. Eni (E) shares rose 2.6% after the company said the first tranche of its new share buyback program will be launched in the coming days. Earlier, Eni also said its Geliga-1 offshore Indonesia discovery delivered strong drill stem test results, confirming robust reservoir productivity.

Dow JonesNasdaq CompositeS&P 500$BAM$CRWV$E$ENB$HUBS$NET$SONY$TSM
Research

Research Alert: Net: Soft Guidance Offsets Q1 Beats; Announces Workforce Restructuring

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:NET delivered strong Q1 2026 results, with revenue of $639.8M (+34% Y/Y), beating consensus by $17.2M, while non-GAAP EPS of $0.25 improved 56% from $0.16 in the prior year, exceeding estimates by $0.02. Non-GAAP gross margins compressed to 72.8% from 77.1% Y/Y due to infrastructure investments for AI workloads, though operating leverage remained strong, with margins of 11.4% declining only 30 bps. Management announced a significant AI-first transformation, planning to reduce its workforce by ~1,100 people, with $140M-$150M in restructuring charges. For Q2 2026, NET expects revenue of $664M-$665M (~30% growth) with non-GAAP EPS of $0.27, while full-year guidance calls for $2,805M-$2,813M in revenue (~29% growth), below the Street's projections of $2,797M after incorporating the beat, and EPS of $1.19-1.20. Free cash flow surged 59% to $84.1M (13% of revenue), reflecting strong fundamentals, while the balance sheet remains robust with $4.16B in cash and securities.

$NET
US Markets

Equities Fall Intraday, Oil Rises as Traders Monitor Middle East Developments

US benchmark equity indexes were lower intraday, while oil prices were moving higher, as investors monitored developments regarding a potential peace deal between Washington and Iran.The Dow Jones Industrial Average was down 0.7% at 49,571 after midday Thursday, while the S&P 500 lost 0.4% to 7,338.3. The Nasdaq Composite shed 0.1% to 25,811.1. The S&P 500 and the Nasdaq hit new peaks in the previous session.Barring technology, all sectors were in the red intraday Thursday, led by energy.West Texas Intermediate crude was up 1.4% at $96.45 a barrel, while Brent rose 0.7% to $102.02. Both benchmarks fell sharply Wednesday amid prospects of a diplomatic breakthrough between the US and Iran."The sell-off partly unwinds the conflict-driven rally in energy prices, but losses were pared as the market remains cautious," ING Bank said in a report Thursday. "Crude inventories in the US continue to tighten, while buyers have become more reliant on US barrels to offset disrupted Middle Eastern supply."The US and Iran are edging toward a temporary pact to halt the war, Reuters reported, citing sources and officials. Iran is reviewing a proposal to stop the fighting, but leave the most contentious issues unresolved, according to the report.Iran is still reviewing "messages" from the US via Pakistani mediation and has yet to finalize its response to a Washington proposal to end the conflict, CNN reported, citing local Iranian media. Tehran has issued a set of new rules for ships looking to cross the crucial Strait of Hormuz, the news outlet reported, citing a document it saw.US Treasury yields were higher intraday, with the 10-year rate up 4.3 basis points at 4.39% and the two-year rate rising 5.2 basis points to 3.92%.In company news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand. The luxury fashion company's shares were down 10%, the second-worst performer on the S&P 500.Planet Fitness (PLNT) shares slid 32% after the fitness center operator tempered its full-year expectations amid fewer-than-projected member additions in the first quarter.Shake Shack (SHAK) shares plummeted 29% after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.Datadog (DDOG) shares surged 26%, the top gainer on the S&P 500. The software maker raised its full-year outlook after posting first-quarter results that topped the Street expectations.Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST), and CoreWeave (CRWV) are expected to report after the closing bell Thursday.Gold was up 0.1% at $4,699.80 per troy ounce, while silver jumped 2.7% to $79.37 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$CRWV$DDOG$GILD$MCK$MNST$NET$PLNT$SHAK$TPR
US Markets

Stocks Rise Pre-Bell as Traders Monitor Developments on Potential US-Iran Peace Deal

US equity markets were moving higher before the opening bell Thursday as investors monitor the latest developments over a potential peace deal between the US and Iran.The S&P 500 and the Dow Jones Industrial Average were up 0.1% each, while the Nasdaq was slightly in the green in premarket activity. The indexes finished Wednesday trading higher, with the S&P 500 and the Nasdaq recording their highest close ever and biggest one-day percentage gains since April 8.President Donald Trump told reporters on Wednesday that the US has had "very good talks" with Iran over the past 24 hours, but said there's no deadline on when he expects Tehran to respond to a US proposal to end the war, according to CNN.American and Iranian officials are closing in on a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources.In a separate social media post on Wednesday, Trump said US operations against Iran will be "at an end" if Tehran agrees to US demands. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump said.Iran is expected to give mediators its response to the proposal on Thursday, a regional source told CNN.West Texas Intermediate crude oil dropped 2.2% to $93.03 a barrel before the open, while Brent decreased 2.1% to $99.14."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to. The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.Treasury yields were down in premarket action, with the two-year rate retreating 2.3 basis points to 3.85% and the 10-year rate off 2 basis points to 4.33%.Shares of DoorDash (DASH) jumped 10% pre-bell after the food delivery company reported first-quarter earnings ahead of Wall Street's estimates. Warner Bros. Discovery (WBD) nudged 0.5% lower, while Snap (SNAP) fell 10% following their latest quarterly results.McDonald's (MCD), Sempra (SRE), Vistra (VST), Datadog (DDOG), Becton Dickinson (BDX), Tapestry (TPR) and US Foods (USFD) report their latest financial results before the bell, among others. Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST) and CoreWeave (CRWV) are scheduled to announce their earnings after the markets close.Employers in the US announced 83,387 layoffs last month, up 38% from March, Challenger, Gray & Christmas said Thursday.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am.On Wednesday, ADP data showed that employment in the US private sector grew at its fastest pace in more than a year in April. The government's nonfarm payrolls report is out on Friday.Federal Reserve Bank of Minneapolis President Neel Kashkari is slated to speak at 1 pm, while Cleveland Fed President Beth Hammack speaks at 2:05 pm. New York Fed President John Williams' remarks are due at 3:30 pm.Gold increased 1% to $4,740 per troy ounce, while bitcoin declined 0.7% to $80,844.

Dow JonesNasdaq CompositeS&P 500$ABNB$BDX$CRWV$DASH$DDOG$GILD$MCD$MCK$MNST$NET$SNAP$SRE$TPR$USFD$VST$WBD
Insider Trading

Cloudflare Insider Sold Shares Worth $558,382, According to a Recent SEC Filing

John Graham-Cumming, Director, on May 04, 2026, sold 2,520 shares in Cloudflare (NET) for $558,382. Following the Form 4 filing with the SEC, Graham-Cumming has control over a total of 494,067 Class A common shares of the company, with 494,067 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1477333/000206272526000010/xslF345X05/form4-05052026_100503.xml

$NET
Wire

Cloudflare Seen Posting Q1 Beat on Contract Gains, Platform Adoption, Oppenheimer Says

Cloudflare (NET) is expected to report a Q1 earnings beat, supported by stronger contract activity showing larger deal sizes and increased adoption of security and compute modules, Oppenheimer said Friday in a report.Contract values probably grew 10% to 15% in Q1 from a year earlier with bot management, AI gateway and app security also picking up, the report said.More than half of Q1 contracts included Workers modules, up from 45% in the prior quarter and 10% to 15% two years ago, the report said.Oppenheimer models Q1 revenue of $620.7 million and expects management to maintain its 2026 revenue guidance.Oppenheimer maintained its outperform rating on Cloudflare stock with a $300 price target.Q1 results are due May 7.Price: $203.10, Change: $-1.91, Percent Change: -0.93%

$NET
Insider Trading

Cloudflare Insider Sold Shares Worth $15,759,466, According to a Recent SEC Filing

Michelle Zatlyn, Director, President and Board Co-Chair, on April 20, 2026, sold 76,923 shares in Cloudflare (NET) for $15,759,466. Following the Form 4 filing with the SEC, Zatlyn has control over a total of 460,444 Class A common shares of the company, with 406,315 shares held directly and 54,129 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1477333/000110465926047010/xslF345X05/tm2612509-1_4seq1.xml

$NET
Insider Trading

Cloudflare Insider Sold Shares Worth $1,979,757, According to a Recent SEC Filing

Thomas J Seifert, Chief Financial Officer, on April 15, 2026, sold 10,000 shares in Cloudflare (NET) for $1,979,757. Following the Form 4 filing with the SEC, Seifert has control over a total of 221,681 Class A common shares of the company, with 221,681 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1477333/000147328926000012/xslF345X05/wk-form4_1776461600.xml

$NET
Wire

Cloudflare Shares Rise After Piper Sandler Upgrade

Cloudflare (NET) shares rose more than 6% in Wednesday trading after Piper Sandler upgraded the stock to overweight from neutral with a price target of $222 per share.Trading volume stood at nearly 3.7 million shares compared with a daily average of close to 5.2 million.Price: $189.91, Change: $+11.26, Percent Change: +6.30%

$NET
Research

Piper Sandler Upgrades Cloudflare to Overweight From Neutral, Price Target is $222

Cloudflare Inc (NET) has an average rating of overweight and mean price target of $233.07, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

$NET
Wire

Cloudflare Partners With Wiz on AI Security; Launches Cloudflare Mesh Networking System

Cloudflare (NET) said Tuesday it has formed a partnership with artificial intelligence security firm Wiz, which is a unit of Alphabet's (GOOG) Google.The company said the collaboration is intended to eliminate AI "blind spots" across infrastructure, allowing security teams to accelerate AI adoption and prioritize risks.Cloudflare also said Tuesday that it has launched Cloudflare Mesh, a private networking system for AI agents.The company said the product is intended to create a secure network that combines AI agents, humans, and multicloud infrastructure.Price: $183.61, Change: $-0.41, Percent Change: -0.22%

$GOOG$NET
Wire

Cloudflare Announces New Features for Agent Cloud

Cloudflare (NET) said Monday it is expanding its Agent Cloud with new features to help developers build, deploy, and scale agents.The new tools allow artificial intelligence agents to move from experimental demos to production-grade workloads operating across Cloudflare's global network, the company said.Cloudflare said it was introducing Dynamic Workers, an isolate-based runtime developed to run AI-generated code in a secure, sandboxed environment, Artifacts, a Git-compatible storage primitive built for agents, and the general availability of sandboxes for when an agent needs a full operating system, according to the company.Shares of Cloudflare rose 8% in Monday trading.Price: $178.83, Change: $+11.84, Percent Change: +7.09%

$NET
US Markets

S&P 500 Snaps 7-Day Winning Streak as Wall Street Logs Back-to-Back Weekly Gains

The S&P 500 retreated Friday following a seven-day advance ahead of upcoming talks between the US and Iran, while Wall Street notched its second consecutive weekly gain.The index slipped 0.1% to 6,816.9, and the Dow Jones Industrial Average shed 0.6% to 47,916.6. The Nasdaq Composite rose 0.4% to 22,902.9, its eight consecutive day of gains.Most sectors ended in the red, led by consumer staples, while tech paced the gainers.This week, the Nasdaq rallied 4.7%, the S&P 500 advanced 3.6%, and the Dow climbed 3%."In another week of high drama, markets ended in a calmer fashion, awaiting this weekend's direct talks between the US and Iran in Islamabad around the 14-day ceasefire," said Douglas Porter, chief economist at BMO, said in a report.The focus shifts to Pakistan, where officials from Washington and Tehran are expected to meet on Saturday. The truce, which Pakistan helped broker, appeared to be holding so far, though there's uncertainty around the outcome of these talks.Fighting between Israel and Iran-backed Hezbollah continued in Lebanon, CNN reported Friday. Iran's parliament speaker, Mohammad Bagher Ghalibaf, said talks will begin only if there is a ceasefire in Lebanon and blocked Iranian assets are released.West Texas Intermediate crude oil was down 2.3% to $95.63 a barrel in Friday late-afternoon trade.In economic news, US consumer inflation accelerated to its highest monthly reading in nearly four years in March as the Middle East conflict sent energy prices sharply higher, official data showed."The fallout of the US/Israel-Iran war was evident in the March consumer price index," Oxford Economics said in a note.US consumer sentiment hit the lowest on record this month, reflecting heightened worries about higher prices and the overall economic fallout from the Middle East conflict, a survey by the University of Michigan showed.US Treasury yields were higher, with the 10-year rate last up 4.3 basis points at 4.32% and the two-year rate rising 4.1 basis points to 3.81%.In company news, ServiceNow (NOW) shares slumped 7.6%, among the worst performers on the S&P 500.The enterprise software company's competitive advantage may have been eroded amid growing evidence that workflow automation tasks can be automated by harnessing artificial intelligence models, UBS Securities said in a note. The brokerage downgraded its rating on the stock to neutral from buy and slashed its price target to $100 from $170.CoreWeave (CRWV) shares jumped nearly 11% after the AI cloud computing company struck a deal to support the development and deployment of Anthropic's Claude AI models.Major tech names advanced, with Nvidia (NVDA) up 2.6%, the biggest gainer on the Dow, while Super Micro Computer (SMCI) jumped 8.8%, the best performer on the S&P 500. Broadcom (AVGO), Advanced Micro Devices (AMD), and Amazon.com (AMZN) also notched gains.Cloudflare (NET) shares tumbled nearly 14% amid an extended sell-off. The slump offers a buying opportunity, while concerns around Project Glasswing are "overblown" as the cloud-services company is seen benefitting from projected exponential growth in agentic artificial intelligence applications, Oppenheimer said Friday.Project Glasswing is a cross-industry coalition formed to "secure the world's most critical software," Anthropic said in a statement. The alliance, which will be using Anthropic's unreleased Claude Mythos frontier model, includes several big tech names including Amazon Web Services, Broadcom and Nvidia.Gold was down 0.6% at $4,790 per troy ounce, while silver rose 0.1% to $76.48 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$AMZN$AVGO$CRWV$NET$NOW$NVDA$SMCI
US Markets

Cloudflare Sell-Off Offers Buying Opportunity as Project Glasswing Concerns 'Overblown,' Oppenheimer Says

Cloudflare's (NET) stock sell-off offers a buying opportunity, while concerns around Project Glasswing are "overblown" as the cloud-services company is seen benefitting from a projected exponential growth in agentic artificial intelligence applications, Oppenheimer said Friday.Oppenheimer's upbeat outlook for Cloudflare comes as its shares tumbled 8.6% Thursday, which the brokerage attributed to competitive concerns around Anthropic's Project Glasswing initiative and a broader market weakness. Cloudflare shares were down 13% in Friday late-afternoon trade, bringing its year-to-date losses to nearly 15%.Project Glasswing is a cross-industry coalition formed to "secure the world's most critical software," Anthropic said in a statement. The alliance, which will be using Anthropic's unreleased Claude Mythos frontier model, includes Amazon (AMZN) Web Services, Apple (AAPL), Broadcom (AVGO), Cisco (CSCO), CrowdStrike (CRWD), Alphabet's (GOOG, GOOGL) Google, JPMorgan Chase (JPM), Microsoft (MSFT), Nvidia (NVDA), and Palo Alto Networks (PANW).Cloudflare is not part of the coalition.The concerns over Project Glasswing are "overblown," with the Cloudflare stock sell-off providing a "tactical buying opportunity," Oppenheimer analysts Param Singh and Jake Heimowitz said in a note to clients Friday. Claude Mythos will "proactively find and fix vulnerabilities across critical infrastructure," they said."We want to highlight that Cloudflare's security sales are tied to its physical network, which is necessary to funnel data traffic," the analysts wrote. "We see Cloudflare as a beneficiary of this growing sophistication in frontier models, which will support exponential growth in agentic AI applications and benefit Cloudflare across delivery, security, and compute."Cloudflare handles roughly 20% of global internet traffic volume, with Oppenheimer seeing the company as a share gainer and beneficiary from an "increasingly agentic web," the analysts said. Agentic AI is expected to drive data traffic growth at a compound annual growth rate of more than 20%, according to the note.The brokerage, which has an outperform rating on the Cloudflare stock, said its checks indicate an accelerating customer spend with the company amid "higher security module and compute attach."Price: $167.26, Change: $-25.79, Percent Change: -13.36%

$AAPL$AMZN$AVGO$CRWD$CSCO$GOOG$GOOGL$JPM$MSFT$NET$NVDA$PANW

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