Broadcom Shares Fall Despite Better-Than-Expected Earnings
For the period ended May 4, the Palo Alto, California-based company
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Yahoo
18 minutes ago
- Yahoo
Design software maker Figma extends gains after blockbuster NYSE trading debut
(Reuters) -Design software maker Figma's shares rose another 10% in premarket trading on Friday, extending strong debut-day gains after a blowout U.S. initial public offering that has reignited the tech listing market. The San Francisco, California-based company's shares closed at $115.5 on Thursday, compared with its IPO price of $33. The 250% surge lifted Figma's market value to nearly $68 billion, far exceeding the $20-billion valuation in a now-scrapped buyout deal with Photoshop maker Adobe. Figma's $1.22-billion offering, the fourth-largest U.S. IPO of the year, is being seen as a potential catalyst for other startups eyeing a flotation after a three-year freeze in the tech listings market. The deal's strong reception renewed hopes of a broader reopening of the pipeline, as private companies and investors look to capitalize on improving market conditions and strong demand for growth names. Figma, which has highlighted its focus on AI, has also benefited from Wall Street's enthusiasm for the technology. The boom fueled a sharp rally in tech stocks over the past year and drove up valuations and investor demand for companies seen as central to the AI ecosystem. "In order for application software companies to remain relevant and provide value to end users, they will need to implement GenAI capabilities which represents a potential catalyst for adoption and increased usage of Figma," D.A. Davidson analyst Gil Luria said in a note. Founded in 2012 and led by CEO Dylan Field, Figma provides cloud-based collaborative design tools, with a roster of marquee clients including Google, Microsoft, Netflix and Uber. Though the blockbuster performance is good news for the IPO market, particularly for high-growth tech listings, the sharp surge suggests Figma may have priced its IPO too conservatively, potentially leaving money on the table. Bankers typically target a first-day rise of 10% to 20% to balance strong demand with optimal fundraising. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Axios
20 minutes ago
- Axios
DMV employers jump on pet benefits trend for fur baby parents
Washington companies are jumping on the "fur baby" trend and providing pet bennies to their employees. The big picture: As people continue to delay having children, more owners are considering their fuzzy offspring part of the fam. 94 million American households have a pet, per the American Pet Products Association, and they'll spend a projected $41.4 billion this year on vet care and pet products. State of play: Tysons-based Hilton offers pet insurance and, starting next month, employees will be able to access pet services through its concierge partnership with Wellthy, a spokesperson tells Axios. Think: help finding groomers, vets, boarding spots or doggie-friendly housing. Or, assistance setting up recurring food or prescription deliveries, or with understanding pet insurance claims. Companies with local footprints like Adobe, Blue Cross Blue Shield, John Hancock, Lyft and Workday partner with pet care group Airvet for free 24/7 virtual vet help and discounts on pet insurance, wellness plans, and backup care via resources like Rover, an Airvet spokesperson says. And at Google, workers can bring their furry pals (aka Dooglers) to the office and get discounts on pet insurance through the group Perks at Work, a spokesperson tells Axios. The intrigue: The number of D.C.-area clients Airvet works with jumped 267% between 2023 and 2024, per the spokesperson. What they're saying: Finding a company where pets are supported as part of an employee's family can be a deciding factor for some when choosing a gig, Airvet CEO Brandon Werber says. Many of Airvets' clients say their pet benefits are the highest used and fastest growing option they offer outside of regular health insurance, Werber tells Axios. While offering these types of benefits is a good way for companies to attract and retain the Gen Z and Millennial fur baby parents, says Werber, the appeal has been far more wide reaching than they expected. By the numbers: 32% of fur parents said having pet benefits would incentivize them to stay at their job, or to look for another that offers them, according to a 2021 survey led by Nationwide.
San Francisco Chronicle
20 minutes ago
- San Francisco Chronicle
Johnson Outdoor: Fiscal Q3 Earnings Snapshot
RACINE, Wis. (AP) — RACINE, Wis. (AP) — Johnson Outdoors Inc. (JOUT) on Friday reported earnings of $7.7 million in its fiscal third quarter. The Racine, Wisconsin-based company said it had profit of 75 cents per share. The outdoor gear company posted revenue of $180.7 million in the period. _____
