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-0.00202887633396117 -0.000753295668549934 0.00238543628374134 0.000125549278091715 -0.000753295668549934 0.00828625235404892 -0.0160703075957313 -0.00816070307595738
Stock impact report

Beaten-down software stocks RingCentral and Five9 rally as earnings quell some AI concerns [CNBC]

RingCentral, Inc. Class A (RNG) 
Last ringcentral, inc. class a earnings: 2/10 04:05 pm Check Earnings Report
US:NYSE Investor Relations: ir.ringcentral.com
Company Research Source: CNBC
Both customer service software firms said AI has helped their businesses and boosted bookings and revenues. Fears that new AI tools will replace the business models of software-as-a-service companies has contributed to a massive selloff in recent weeks. In this article Pavlo Gonchar | Lightrocket | Getty Images Shares of RingCentral and Five9 surged on Friday after earnings from both software firms alleviated recent fears that artificial intelligence is eating away at their business models. RingCentral popped 34%, while Five9 rallied about 14% after topping Wall Street's estimates and issuing upbeat guidance. Both companies, which provide customer service solutions like voice integration, said accelerating AI adoption has boosted demand. New AI tools, capable of building apps and websites in a matter of minutes, have spooked investors in recent weeks, leading to a massive selloff across the software sector. The worry is that these products, emerging from the likes of An Show less Read more
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