Zoom shares jump after the company announces its first acquisition, security start-up Keybase. Follow along with the latest stock market news here:
The acquisition will add end-to-end encryption for the company's video calls. Zoom shares have more than doubled this year on the heels of a spike in demand as people began working from home. But the company has also been criticized for privacy and security flaws. On April 1 the company outlined a plan for how it can fix its security issues, and Thursday's acquisition is part of that plan.
in the week ending May 2, the Labor Department said Thursday. Economists polled by Dow Jones expected jobless claims to rise by 3.05 million. The latest number brought the seven-week tally to more than 33 million as the coronavirus pandemic caused unprecedented job losses. While another bad number, the jobless claims were below the 3.8 million and 4.4 million pace of the prior two weeks and down from the 6.8 million jobs lost at the end of March.
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