U.S. Stocks to Watch: CoreWeave, Trade Desk, Cloudflare, Akamai, Block, and More

Dow Jones05-08 18:50

US stock futures were rising Fridayg ahead of a U.S. jobs report that will give investors a much better idea how the labor market is holding up as as the Iran war drives energy prices higher and weighs on business confidence.

These stocks were making moves in premarket trading:

CoreWeave dropped 6.2% after the cloud computing company missed analysts' adjusted earnings target for the first quarter. CoreWeave's second-quarter outlook also was below expectations.

Trade Desk plummeted 12.6%, making it the S&P 500's worst performer ahead of the opening bell. The advertising-technology company posted weaker-than-expected earnings for the first quarter and issued weak revenue guidance. Shares had fallen 38% for the year through Thursday's close.

Cloudflare tumbled 18% after the cybersecurity company said it would lay off at least 20% of its workforce, citing its increased adoption of AI tools. That overshadowed a first-quarter earnings beat.

Akamai Technologies was the S&P 500's best performer, soaring 27%. The rally came after Akamai said that a leading artificial-intelligence lab had agreed to pay $1.8 billion over seven years for its cloud infrastructure services.

Block jumped 7.5% after the digital payments company beat on first-quarter earnings and raised its guidance, reassuring investors that its business is faring well following mass layoffs in February.

Brookfield Asset Management, Enbridge, Fluor, and TeraWulf are scheduled to report earnings on Friday.

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