OOMA - These 2 SaaS Stocks Are Making Big Premarket Moves Friday
The stock market has made a solid move higher this week, with investors coming into Friday with an eye toward seeing what implications the employment situation in the U.S. will have on the economy going forward. Optimism reigned on Wall Street as most market participants believed the upward momentum for major market benchmarks would continue. As of 8 a.m. EDT Friday morning, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 46 points to 35,470. S&P 500 (SNPINDEX: ^GSPC) futures were up 8 points to 4,543, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had picked up 24 points to 15,625.
Some stocks that had news Thursday night or early Friday morning got a jump on the action by seeing big price moves. Both Ooma (NYSE: OOMA) and Guidewire Software (NYSE: GWRE) offer software as a service as part of their broader offerings to clients, and both stocks gained ground to help bolster the overall market. Below, we'll look at what had the stocks climbing higher in premarket trading Friday.
Shares of Ooma were up almost 7% in premarket trading on Friday. That added to gains of 3% the previous day, as investors reacted positively to the second-quarter financial results that the communications platform provider announced late Thursday.
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These 2 SaaS Stocks Are Making Big Premarket Moves Friday