Backblaze Inc (BLZE) News & EventsBLZENews & EventsBackblaze Inc

Backblaze Increases Offering of Convertible Notes to $175 Million

Backblaz announced the pricing of $175 million aggregate principal amount of 0.00% Convertible Senior Notes due 2031 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended . The size of the offering was increased from the previously announced offering of $150 million aggregate principal amount of Notes. The initial conversion rate is 45.5705 shares of Backblaze's Class A common stock per $1,000 principal amount of Notes. The initial conversion price of the Notes is approximately $21.94 per share of Backblaze's Class A common stock, which represents a conversion premium of approximately 30% over the $16.88 per share closing price of Backblaze's Class A common stock on the Nasdaq Global Market on August 19, 2026.

Major Averages Rise as Bond Yields Slip

The major averages were broadly higher near noon as bond yields slipped after the U.S. Treasury Department announced an increased buyback operation for longer-term debt. Investors are also eyeing stabilization following recent declines led by a sharp selloff in technology and semiconductor names.The Federal Reserve's July meeting minutes are the day's main catalyst, due at 2 p.m. ET. Investors will be looking for clues about the debate within the FOMC after the central bank held rates at 3.5%-3.75% in July. The minutes could be particularly important following the weak July employment report and relatively contained inflation data, which have reduced probabilities for a more hawkish September policy tilt, although rising oil prices and longer-term Treasury yields complicate the outlook.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Targetprovided areport for Q2TJXreportedand provided a conservative outlook for Q3 and FY27 earningsLowe'sreportedand narrowed its FY26 guidanceLa-Z-Boyreportedand provided a conservative revenue guide for Q2OpenAI's revenue rose 18% from Q1 to Q2 but its losses deepened and operating margin sank further into the red,2. WALL STREET CALLS:William BlairModernato Outperform from Market PerformMorgan StanleyBaiduto Underweight on ramping AI investmentsNorthlandCienaon larger than expected marketJPMorganKlarnato Neutral on lack of visibility into medium-term trendsRBC Capitalcoverage of McKessonwith a Sector Perform rating and $845 price target3. AROUND THE WEB:Novo Nordiskis testing lower doses of oral Wegovy to identify the minimum effective dose, Reuters reportsMicrosoftAI CMO Andrea Mallard is stepping back from her role about six months after joining the AI unit, Business Insider saysSamsunghas raised the prices for some advanced contract chipmaking services by up to 15% due to strong demand, Reuters reportsGooglehas told suppliers it plans to move all Pixel phone, smartwatch, and wireless earbud manufacturing out of China in 2027 amid U.S.-China tensions, Nikkei Asia saysNokiawill close almost all its sites in mainland China by year end, South China Morning Post reports4. MOVERS:Modernagains after its Phase 3 INTerpath-001 trial with MerckEstee Lauderincreases afterand providing guidance for FY27Pilgrim's Pridehigher after JBSproposed toof the companyWhifeFiberfalls after announcing the pricing of itsBlackblazelower after announcing a5. EARNINGS/GUIDANCE:Datavaultand reaffirmed its guidance for FY26Mercury Systems (MRCY) reportedOpera, provided its outlook for Q3, and announced guidance for FY26ZIM Integrated, with EPS and revenue lower year-over-yearFull Truck Alliance, with EPS and revenue beating consensusINDEXES:Near midday, the Dow was up 167.83, or 0.31%, to 53,511.23, the Nasdaq was up 78.81, or 0.30%, to 26,368.52, and the S&P 500 was up 31.51, or 0.41%, to 7,723.27.

NASDAQ Drops 1.3% as US Stocks Retreat

The gains made by AI CapEx names overnight that helped prop up the S&P 500 reversed sharply today, sending both the benchmark index as well as the tech-heavy NASDAQ Composite sharply lower.   S&P 500, off by 0.7%, was down for the third consecutive day, landing at a two-week low below 7,700 as investors booked profits and some of this year's biggest winners.  Micronand Western Digitalwere down over 7%, while SanDiskand Seagatewere down over 9%, with Technology by far the worst performing segment in the index today.  Defensively-inclined Healthcare and Consumer Staples sectors outpeformed, with Energy also trading relatively higher as the U.S.-Iran war uncertainty continues to boost oil prices.  In turn, Nasdaq Composite shed 1.3% to its lowest level since August 6th.In the opening hour of the evening session, sentiment remains fragile - S&P e-minis are down a decimal and NASDAQ 100 contract down by 0.2%.  Ahead of tomorrow's FOMC July meeting minutes, fixed income markets are on edge as the global bond rout continues to push up the yields of longer-dated maturities.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Keysight Technologiesup 3.2%Toll Brothersup 0.8%DOWN AFTER EARNINGS -La-Z-Boydown 17.2%Mercury Systemsdown 10.5%ALSO LOWER -WhiteFiberdown 20.5% after convertible debt offeringBackblazedown 2.1% after convertible debt offering