Briggs Teresa sold $173K of NOW

Software stocks fell Thursday after quarterly results from Datadog, Figma, and HubSpot. Datadog shares dropped more than 15% despite beating revenue and earnings; adjusted gross margin was 80% versus 80.7% consensus. Figma also fell after warning of higher AI inference spending. iShares Expanded Tech-Software ETF (IGV) fell over 2%.

ServiceNow unveiled six autonomous security products under its Autonomous Security and Risk portfolio, built on acquisitions Armis (closed April 20) and Veza (closed March 2). It says the tools use AI agents to manage vulnerability and incident workflows, with some remediation and SOC actions executed automatically. Eight products are available now, four in December, including Tier 2 SOC and cryptographic compliance.

ServiceNow (NOW) said it plans to cut up to 1,000 jobs, about 3% of its workforce, to return 2026 headcount to pre-acquisition levels. The move followed its Q2 results, with revenue of $3.99B (+24% YoY) and adjusted EPS $0.90 vs $0.86 expected, and it raised subscription outlook. NOW shares rose about 9% toward $111.

US stocks rose as investors digested strong Q2 earnings expectations and results, led by Microsoft. The article cites Bloomberg Intelligence forecasts for Q2 earnings up about 23% and notes 86% of 243 S&P 500 firms beat estimates. It also reports chip and AI-infrastructure gains tied to Lam Research and other semis, while some software names fell.

ServiceNow shares rose as much as 13.8% this week after the company reported Q2 2026 earnings and raised full-year guidance, according to S&P Global Market Intelligence. Subscription revenue grew 23% year over year in constant currency to $3.88B. Full-year subscription guidance increased to $15.76B, with a target of $30B by 2030.

ServiceNow (NYSE: NOW) plans to cut up to 1,000 jobs in 2026 as part of rightsizing tied to integrating Moveworks, Veza, and Armis, according to people familiar with the matter. The company aims to end 2026 with roughly the same headcount as it started, around 29,000 employees. Reports of 3,000 to 5,000 cuts are said to be overstated.