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Fastly, Box, Anaplan: Midday Tech Stock Movers

Stocks were mixed overall on Thursday, but cloud software names notched gains.

Stocks were mixed on Thursday following comments by Fed chair Jerome Powell that the U.S. central bank would seek inflation that averages 2% over time. Cloud software stocks tracked higher following a spate of well-received earnings reports. 


Fastly  (FSLY) - Get Fastly, Inc. Class A Report shares rose 10% to $98.71 on Thursday following news that Walmart  (WMT) - Get Walmart Inc. Report is joining Microsoft  (MSFT) - Get Microsoft Corporation (MSFT) Report in making a bid for TikTok. Fastly revealed recently that TikTok is its largest customer, accounting for 12% of its revenue last quarter. 


Shares of Box  (BOX) - Get Box, Inc. Class A Report rose 8.4% to $20.93 after it topped estimates for its fiscal second quarter. The file storage firm posted earnings of 18 cents per share, versus zero cents one year ago, while revenues rose 11% of $192.3 million.


Shares of Anaplan  (PLAN) - Get Anaplan, Inc. Report rose 6.9% to $62.17 on Thursday, continuing a surge since releasing its second quarter earnings late Tuesday. The cloud software firm reported 37% revenue growth at $103.8 million and a non-GAAP loss per share of 4 cents, also issuing robust guidance for the current quarter and full year.

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Shares of Overstock  (OSTK) - Get, Inc. Report plunged 15.4% to $92.67 on Thursday, extending a downward trend over the past several trading sessions. Overstock's stock has skyrocketed more than 1,200% year to date, fueled by tailwinds tied to the COVID-19 lockdown and a refocusing of its business on home goods. 


Share of Chinese social media firm Bilibili  (BILI) - Get Bilibili, Inc. Sponsored ADR Class Z Report fell 6.5% to $45.55 after releasing its latest earnings. Revenue grew 70% to $370.5 million, monthly paying users nearly doubled to 12.9 million, but it reported a loss of 19 cents per share. Its shares have more than doubled year to date, signaling high expectations for the stock.