Netflix blames its content slate, regional price increases and a "pull-forward effect" of its strong Q1 growth for the miss.Technologyread more
Netflix lost paid U.S. subscribers for the first time in eight years and fell below analyst estimates for international subscriber growth.Tech Driversread more
Despite a disappointing earnings report, Wall Street analysts are sticking by the stock and looking ahead to the third quarter.Marketsread more
The Dow Jones Industrial Average and Nasdaq Composite traded slightly lower on Thursday after a mixed batch of corporate earnings results.US Marketsread more
Revenue of $10.24 billion exceeded the consensus estimate by almost $250 million.Financeread more
Treasury Secretary Steven Mnuchin says if the call goes well, he would expect in-person meetings to take place.Marketsread more
Southwest joints United and American in taking the Boeing 737 Max out of its schedules through early November with no end in sight to the federally mandated grounding of the...Airlinesread more
The filing came a day after the judge in Michael Cohen's criminal case ordered their release, saying that the end of a probe into those payments to alleged sexual partners of...Politicsread more
The strengthening of the president's formidable campaign war chest has led his organization, along with the Republican National Committee, to raise over $100 million in the...2020 Electionsread more
The three-judge panel in the U.S. Court of Appeals for the Second Circut also upheld the more than $7.7 million in fines and restitution that a judge imposed on Shkreli last...Biotech and Pharmaceuticalsread more
Raymond James upgraded Apple and said its most recent checks show Apple is preparing to bring a 5G iPhone to a wider range of models than previously thought.Marketsread more
Cloudflare, a U.S. startup whose software makes websites load faster and with greater security, is preparing for an initial public offering (IPO) that could value it at more than $3.5 billion, people familiar with the matter said.
The company is looking to go public in the first half of next year, the sources said this week, joining a string of software and internet firms seeking to tap the stock market and capitalize on strong investor appetite and rich valuations.
The IPO will be led by investment bank Goldman Sachs, said the sources, who asked not to be named because the matter is confidential. Exact timing of the IPO has not been finalized, the sources added.
Cloudflare did not respond to requests for comment. Goldman Sachs declined to comment.
Despite a recent pullback in the major indexes of public equity markets, such as the S&P 500, technology firms are increasingly ramping up efforts to tap those markets while interest rates remain low and valuations of private companies are relatively high.
Reuters reported last week that CrowdStrike, a security software firm, had also hired Goldman Sachs to lead an IPO that could value it at more than $3 billion.
Founded in 2009, Cloudflare provides cloud-based Web services that help improve user experience on websites through actions such as making videos load faster. It also protects against cyber attacks, among other services.
Its clients include companies such as Zendesk and Cisco. It serves a total of 10 million website domains and the average Internet user touches its services around 500 times per day, according to its website.