A worse-than-expected University of Michigan’s May consumer report halted stock gains on Friday, sparking worries about a potential decline in consumer health amid perceived rising price pressures.
DigitalOcean Holdings Inc (NYSE: DOCN) reported strong Q1 results with revenue of $184.73M, 12% Y/Y growth, and adjusted EPS of $0.43. Outlook is positive with expected growth in revenue and EPS. Stock up 5.89% premarket.
U.S. stocks traded mixed, with the Nasdaq Composite gaining around 100 points on Friday.
Shares of SPS Commerce, Inc. (NASDAQ: SPSC) rose sharply during Friday’s session following upbeat results.