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Ford August Sales Fell More Than 33% Year-Over-Year | 2021-09-02 18:24:00 | <p>Ford Motor Company (NYSE:F) reported its sales in August dropped 33.1% in comparison to the same month last year. The reason for this sharp decline in sales is that the company continues to struggle with supply chain difficulties and chip deficits.</p>
<p>The company sold 124,176 vehicles in August, which is its strongest month of the year, taking the annual pace of sales down to 13 million from approximately 18 million at the start of the year. The annual sales pace for a month represents the number of cars the industry would sell yearly if it sold the same amount in each of 12 months. Analysts anticipated August sales pace to range from 13.1 million to 14.4 million vehicles.</p>
| NYSE:F | https://financialmodelingprep.com/market-news/fmp-Ford-August-Sales-Fell-More-Than-33-Year-Over-Year | Davit Kirakosyan | Financial Modeling Prep |
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OKTA Reported Better Than Expected Q2 Results | 2021-09-02 18:22:00 | <p>Okta, Inc. (NASDAQ:OKTA) shares are trading 3% higher today following the company’s reported Q2 beat/raise, with meaningful upside to all metrics.
The company posted quarterly revenue of $316 million, beating the consensus of $296.23 million, and representing a 57% year-over-year growth. Q2 EPS came in at ($0.11), which was also better than the Street expectation of ($0.35).</p>
<p>The company disclosed quarterly results on an ex-Auth0 basis, which many investors had anticipated. Expansionary strength in the business proved to be broad-based, with standalone Okta NRR of 122% and Auth0 NRR of 127%.</p>
<p>According to the analysts at Berenberg Bank, investors are appreciating the additional color Okta provided on the performance of the Auth0 and Okta standalone business. While the company has managed to sustain impressive growth primarily through its direct sales force, the brokerage believes the next leg of growth will come from SIs and resellers. Berenberg raised its price target on the company’s shares to $310 from $290.</p>
| NASDAQ:OKTA | https://financialmodelingprep.com/market-news/fmp-OKTA-Reported-Better-Than-Expected-Q2-Results | Davit Kirakosyan | Financial Modeling Prep |
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Chewy Shares Trade 9% Lower Today Following Q2 Results | 2021-09-02 18:18:00 | <p><a href='https://financialmodelingprep.com/financial-summary/CHWY'>Chewy (NYSE:CHWY) </a>shares are trading more than 9% lower today following the company’s Q2 results, which were just shy of expectations on the top and bottom lines, with guidance for Q3 revenue just below consensus and full-year guidance maintained.</p><p>The company posted quarterly revenue of $2.16 billion, a growth of 26.8% year-over, which is a bit lower than the consensus estimate of $2.17 billion. Number of active customers, which now stands at 20.1 million, grew 21.1% year-over-year, which, according to the analysts at Wedbush, is disappointing. During this quarter the brokerage lowered its estimate of net customer additions for 2021 to 1.9 million (well below the Street expectation of 2.9 million), but the company missed its forecast and signaled that even Wedbush’s full-year forecast may still be too high if we extrapolate the trend of only 312,000 net adds in Q2 through the balance of the year. </p>
<p>The brokerage lowered its price target on Chewy to $90 from $100, mentioning that it still sees the company as a secular winner, and while the net adds pressure should be confined to 2021, lower customer counts and weakening LTV/CAC due to higher advertising costs leave the brokerage incrementally less bullish.</p>
| NYSE:CHWY | https://financialmodelingprep.com/market-news/fmp-Chewy-Shares-Trade-9-Lower-Today-Following-Q2-Results | Davit Kirakosyan | Financial Modeling Prep |
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Asana Shares Up 14% Following Q2 Beat | 2021-09-02 18:14:00 | <p>Asana, Inc. (NYSE:ASAN) reported better-than-expected Q2 results supported by broad-based demand. Shares are up more than 14% today.
The company posted quarterly EPS of ($0.23) and revenue of $82.31 million, both beating the consensus estimates of ($0.26) and $82.31 million, respectively. The quarterly revenue grew 72% year-over-year, with large customer (customers spending $50,000 or more) growth of 111%. </p>
<p>The company provided its Q3 guidance, estimating its Q3 EPS to range from ($0.27) to ($0.26), which is better than the Street estimate of ($0.28), and its revenue to be $93-94 million, compared to the consensus estimate of $86.7 million. For the full 2022-year, the company expects revenue of $357 million-$359 million, representing a growth of 57%-58% year-over-year.</p>
<p>While guidance reflects some moderation in year-over-year growth, analysts at Oppenheimer believe there's room for upside and importantly, they expect a long, multi-year growth opportunity ahead. The brokerage raised its price target on the company’s shares to $85 from $77.</p>
| NYSE:ASAN | https://financialmodelingprep.com/market-news/fmp-Asana-Shares-Up-14-Following-Q2-Beat | Davit Kirakosyan | Financial Modeling Prep |
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Dogecoin Gained 6% Today | 2021-09-01 19:04:00 | <p>Dogecoin soared more than 6% today moving in line with major cryptocurrencies. DOGE rose almost 5000% since the start of the year, but Gianni Di Poce, the cryptocurrency market analyst, believes the coin is headed to cross the mark of $1.</p>
<p>DOGE is among the top 10 most discussed cryptos on Twitter at this moment, according to Cointrendz.</p>
<p>On Tuesday, Naomi Osaka, currently the third number in WTA professional tennis players ranking said that the constant flow of discussions centered around Dogecoin, particularly on Twitter, drove her interest in cryptocurrencies and NFTs.</p>
| https://financialmodelingprep.com/market-news/fmp-Dogecoin-Gained-6-Today | Davit Kirakosyan | Financial Modeling Prep |
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GameStop Q2 Preview | 2021-09-01 19:02:00 | <p>GameStop Corp. (NYSE:GME) is expected to provide its Q2 results on Sept.8. Wall Street analysts expect the company to deliver quarterly revenue of $1.1 billion with a loss per share of $0.66. The company is seeing improving revenues as economies reopen, but it is still unclear when the company will be able to generate profits.</p>
<p>The company shares, which skyrocketed earlier this year following the retail investors' decision on r/wallstreetbets subreddit to buy and hold the company’s stock, grew more than tenfold since then.</p>
<p>Several exchange-traded funds benefited from the surge in meme stock prices earlier this year, however, some of them seem to back away now. For example, State Street, which scored big on GameStop when the prices skyrocketed in January, now only holds 1% of its assets in GameStop, significantly lower in comparison to January, when it had more than 20% of its assets in the company’s stock.</p>
| NYSE:GME | https://financialmodelingprep.com/market-news/fmp-GameStop-Q2-Preview | Davit Kirakosyan | Financial Modeling Prep |
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CrowdStrike Holdings, Inc. Posted Q2 Beat/Raise, But ARR Growth is Slowing | 2021-09-01 19:00:00 | <p>CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares were trading 3% lower today, despite the company posted Q2 beat and raise on Tuesday.</p>
<p>The company delivered Q2 revenue of $337.7 million beating the consensus estimate of $323.13 million. Annual Recurring Revenue (ARR) was $1.34 billion, representing an increase of 70% year-over-year, with a record net new ARR of $150.6 million.</p>
<p>The company’s management raised its full 2022-year EPS guidance to $0.43-$0.49, beating the Street expectation of $0.40, and revenue guidance to $1.391-1.408 billion, compared to the consensus estimate of $1.36 billion.</p>
<p>The company’s shares dropped despite the quarterly beat, as investors are concerned about the growth of ARR. New business ARR of $157 million in Q2 represents a growth of 45% year-over-year, which is lower compared to the previous quarter's 63% growth.</p>
| NASDAQ:CRWD | https://financialmodelingprep.com/market-news/fmp-CrowdStrike-Holdings-Inc-Posted-Q2-BeatRaise-But-ARR-Growth-is-Slowing | Davit Kirakosyan | Financial Modeling Prep |
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Ambarella Shares Up 26% Following Q2 Results | 2021-09-01 18:58:00 | <p>Ambarella (NASDAQ: AMBA) shares were trading 26% higher intra-day on Wednesday following better-than-expected Q2 results, which were driven by strong demand and improving supply yield. The company’s quarterly $0.35 EPS came above the consensus estimate of $0.25. Q2 revenue of $79.3 million also beat the consensus of $75.68, growing 58% year-over-year.</p>
<p>The company’s management guided Q3 revenue in the range of $88.0 - $92.0 million, again higher than the Street estimate of $78.7 million.</p>
<p>Analysts at Deutsche Bank increased their price target on the company’s shares to $115 from $110 following strong beat/raise, impressed by the company’s guidance which implies strong growth to continue in Q3 as increased foundry supply (post TX freeze) allows the company to better meet demand.
Beyond the near-term, the brokerage believes the company’s Automotive growth trajectory remains very strong with revenue in that segment expected to roughly double year-over-year in 2022 and continue growing strongly in the future.</p>
| NASDAQ:, AMBA | https://financialmodelingprep.com/market-news/fmp-Ambarella-Shares-Up-26-Following-Q2-Results | Davit Kirakosyan | Financial Modeling Prep |
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Anaplan Shares Dropped 14% After-Hours But Trading 17% Higher Today | 2021-09-01 18:55:00 | <p>Anaplan, Inc. (NYSE: PLAN) shares dropped more than 14% after-hours following the company’s Q2 earnings report, with total revenue coming at $144.3 million, representing an increase of 35.5% year-over-year, and beating the consensus estimate of $133.99 million. However, today the share prices were trading more than 17% higher again.</p>
<p>The company’s subscription revenue grew 34.6% year-over-year to $130.8 million and the quarterly EPS of ($0.09) was better than the consensus estimate of ($0.14).</p>
<p>The company’s management raised its full 2022-year outlook, now anticipating revenue to be $571.5-573.5 million, in comparison to $555-$560 million previously. The Street estimate was $558 million. </p>
<p>According to the analysts at Berenberg Bank, which raised its price target on the company’s shares to $92 from $82, investors are impressed by the strong billings/subscription revenue growth during Q2.</p>
<p>According to the brokerage, there is a substantial opportunity for the company to expand its customer base within existing customers and acquire new customers through indirect channels and international expansion.</p>
| NYSE:, PLAN | https://financialmodelingprep.com/market-news/fmp-Anaplan-Shares-Dropped-14-After-Hours-But-Trading-17-Higher-Today | Davit Kirakosyan | Financial Modeling Prep |
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How Will Coinbase Stock Perform as Bitcoin Crosses $50,000? | 2021-08-31 19:47:00 | <p>Coinbase Global, Inc. (NASDAQ:COIN), the largest cryptocurrency exchange in the U.S. has done a huge job growing its user base since its IPO in April, with monthly transacting users increasing 44% to 8.8 million quarter over quarter, according to the company’s most recent quarterly report.</p>
<p>The company, having around 50 cryptocurrencies including Bitcoin and Ethereum listed on its platform, acknowledged that it had accumulated cash in the event of a “crypto winter.” The company has piled up $4 billion in cash, preparing for closer regulatory scrutiny, possible cyberattacks, or potential trading declines. </p>
<p>Coinbase reported EPS of $6.42 with a revenue of $2.22 billion for Q2, warning that its trading volume is expected to be lower in Q3.</p>
<p>With Bitcoin hitting $50,000 last week, investors now argue whether Coinbase stock is a buy or sell.</p>
| NASDAQ:COIN | https://financialmodelingprep.com/market-news/fmp-How-Will-Coinbase-Stock-Perform-as-Bitcoin-Crosses-$50000?- | Davit Kirakosyan | Financial Modeling Prep |
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Chico's FAS, Inc. Closed 11% Lower Today Despite Beating Q2 | 2021-08-31 19:44:00 | <p>Chico's FAS, Inc. (NYSE:CHS) share closed more than 11% lower today, losing around 17% intra-day, despite the company reported strong Q2 results. </p>
<p>The company posted quarterly EPS of $0.21 beating the consensus estimate of ($0.08). With this quarter’s 362.50% earnings surprise, the company marks the second quarter over the last four, beating the Street estimates. Q2 revenue of $472.06 million (vs. $306.17 million a year ago) also came above the consensus estimate, exceeding it by 15.89%.</p>
<p>Management didn’t provide any specific full 2021-year guidance, given the uncertainty driven by COVID-19 and continuous market volatility, however, it mentioned it expects consolidated year-over-year net sales improvement to range from 28% to 34%, from 18 to 20 percentage points improvement in gross margin year-over-year, and income tax expense of around $0.5 million.</p>
<p>Despite strong results, the company’s shares dropped more than 17% Tuesday morning. But the company is not the only one seeing share prices plummet after a strong earnings report. Designer Brands (NYSE: DBI) also posted above-consensus earnings, but losing 10% during morning trading.</p>
| NYSE:CHS, NYSE:, DBI | https://financialmodelingprep.com/market-news/fmp-Chicos-FAS-Inc-Closed-11-Lower-Today-Despite-Beating-Q2- | Davit Kirakosyan | Financial Modeling Prep |
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Designer Brands Lost more than 10% Despite Q1 Beat | 2021-08-31 19:41:00 | <p>Designer Brands Inc. (NYSE:DBI) share prices dropped more than 10% today, despite the Q1 beat. The company posted Q1 EPS of $0.12, better than the analyst estimate of a loss of $0.18 per share. Revenue stands at $703.2 million, again higher than the Street estimate of $651 million.</p>
<p>The report implied that the company has likely completely recovered from the impact of the pandemic, however, the stock saw a sharp decline today following the results, which according to Jon Quast from Fool.com, makes no sense.</p>
<p>During the conference call, Roger Rawlins, the Chief Executive Officer of the company said that the strong start of fiscal 2021 was driven by green shoots in the business areas previously affected by COVID-19, synergies from the company’s vertical capabilities becoming active, which allowed the company to take advantage of positive trends faster.</p>
| NYSE:DBI | https://financialmodelingprep.com/market-news/fmp-Designer-Brands-Lost-more-than-10-Despite-Q1-Beat | Davit Kirakosyan | Financial Modeling Prep |
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Dollar Drops to its Three-Week Low as Investors Look Forward to the U.S. Jobs Data | 2021-08-31 19:39:00 | <p>U.S. Dollar Index dropped to its three-week lowest level of 92.4 today, as investors await U.S. jobs data report on Friday, which may give some clues on the possible monetary direction of the U.S. Federal Reserve.</p>
<p>U.S. dollar has been struggling since Jerome Powell, the Fed Chair said that tapering may begin this year, but the central bank was in no rush to raise the interest rates.</p>
<p>Investors will look closely at the U.S. data later this week to understand the strength of the labor market and be able to estimate the timing of the Fed’s tightening policy.</p>
| https://financialmodelingprep.com/market-news/fmp-Dollar-Drops-to-its-Three-Week-Low-as-Investors-Look-Forward-to-the-US-Jobs-Data | Davit Kirakosyan | Financial Modeling Prep |
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Zoom Shares Down 16% After Q2 Results | 2021-08-31 19:35:00 | <p>Zoom Video Communications, Inc. (NASDAQ:ZM) shares dropped more than 16% today following Q2 earnings results. The company posted revenue of $1.02 billion, representing a 54% increase year-over-year, and coming above the $990.2 million consensus estimate. Adjusted EPS of $1.36 also beat the consensus, which was $1.16. However, investors are concerned about the company’s flattening growth in smaller customer segment and conservative guidance.<p>
<p>The company’s smaller customer base (<10 employees), which represents 36% of total revenue, is expected to decline in Q3, according to the company.<p>
<p>Deutsche Bank analysts lowered their price target on the company to $350 from $375, mentioning that their discussions with management imply rising churn in "smaller" cohort of customers, and is the primary driver of an outlook, which now implies revenues could decline slightly quarter-over-quarter, in each of the next two quarters.<p>
| NASDAQ:ZM | https://financialmodelingprep.com/market-news/fmp-Zoom-Shares-Down-16-After-Q2-Results | Davit Kirakosyan | Financial Modeling Prep |
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VMware Shares Slightly Recovered After a 6% Drop on Friday | 2021-08-30 20:24:00 | <p>VMware, Inc. (NYSE:VMW) shares slightly recovered today, rising 0.95% after dropping more than 6% on Friday, which was a result of mixed Q2 results.<p>
<p>The company, which sells infrastructure software products that enable customers to provision cloud infrastructure, virtualize on-premise networks, manage business mobility, and empower digital workspaces, posted total revenue of $3.1 billion, up 9% year-over-year and EPS of $1.75, down 3% year-over-year, both being above consensus estimates. However, investors were disappointed by the weak guidance and lower mix of Subscription and SaaS sales the company provided. Although the EPS guidance was increased to $6.90, it was still lower than the Street estimate of expected $6.96.<p>
<p>According to the analysts at DA Davidson, the company’s digital transformation solutions stand out from the competition because of its dominant market share, breadth of solutions, and impartial support of cloud providers, which makes the company a key partner for both cloud providers and enterprise customers. The company is transitioning most of its products from license to subscription sales over the next year. This will create a few quarters of headwinds for licensed sales, but reduces adoption barriers for customers, expands the number of solutions customers purchase and gives the company a more predictable stream of recurring revenue.<p>
| NYSE:VMW | https://financialmodelingprep.com/market-news/fmp-VMware-Shares-Slightly-Recovered-After-a-6-Drop-on-Friday | Davit Kirakosyan | Financial Modeling Prep |
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S&P 500 and Nasdaq in Record Territory | 2021-08-30 20:22:00 | <p>S&P 500 grew 0.43% today after reaching its all-time high on Friday, while Nasdaq rose 0.90%. The rise in US stock indexes today was driven by technology stocks, with Alphabet (NASDAQ:GOOG), Lululemon Athletica (NASDAQ:LULU), Atlassian (NASDAQ:TEAM) hitting their all-time highs. <p>
<p>Investors became optimistic following comments from Federal Reserve Chairman Jerome Powell on Friday, according to whom 2021 inflation growth would prove temporary, eliminating the concerns that rapidly rising prices could become a permanent feature of the economy, making Fed accelerate interest rates hikes and cut short the recovery. Powell mentioned the inflation which hit its highest readings in decades is a cause of concern, but he believes these trends are short-term.<p>
| NASDAQ:GOOG, NASDAQ:LULU, NASDAQ:TEAM | https://financialmodelingprep.com/market-news/fmp-S&P-500-and-Nasdaq-in-Record-Territory | Davit Kirakosyan | Financial Modeling Prep |
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Affirm Holdings Up 46% on Amazon Partnership Announcement | 2021-08-30 20:19:00 | <p>Affirm Holdings, Inc. (NASDAQ:AFRM) shares surged more than 46% today following Friday’s announcement, according to which the company is going to partner with Amazon.com, Inc. (NASDAQ:AMZN), helping Amazon’s customers finance large purchases. Affirm Holdings, which is a leader in the buy now, pay later space, will give Amazon customers an option to split their total cost of $50 or more into monthly payments. <p>
<p>The partnership, which is being tested now, should be rolled out more broadly to Amazon customers in the US in the coming months. It is expected that Affirm could expand its customer base as only 18% of U.S. Amazon users are also customers of Affirm.<p>
<p>The deal, the exact impact of which is difficult to estimate now, may potentially give 20-30% upside to Affirm’s medium-term gross merchandise volume.
Analysts at Deutsche Bank estimate the partnership to drive CY22 annual total payment volume (TPV) contribution to ~$7.7bn, with a potential revenue contribution of $385M (potentially ~22% of AFRM).<p>
| NASDAQ:AFRM, NASDAQ:AMZN | https://financialmodelingprep.com/market-news/fmp-Affirm-Holdings-Up-46-on-Amazon-Partnership-Announcement | Davit Kirakosyan | Financial Modeling Prep |
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Who Will be Apple’s CEO After Tim Cook? | 2021-08-30 20:17:00 | <p>It’s been already 10 years since Tim Cook became the CEO of Apple Inc. (NASDAQ:AAPL), with the company’s stock price achieving more than 1,000% since then. Cook expanded Apple’s product portfolio with new iPhones, iPads, Apple Watches, MacBooks, AirPods, HomePod, and many more.<p>
<p>According to Bloomberg's Mark Gurman's, there are some speculations that Cook is planning to leave the company, but is waiting to launch one new product category before stepping down, which will likely be the Augmented Reality Glasses. <p>
<p>While Cook’s departure from the company is probably going to take at least 5 more years, Apple employees already started speculating who is going to replace the 60-year-old CEO.<p>
<p>We outlined four candidates among the company’s executives that have the highest chances to take on this position. <p>
<p>Jeff Williams – Serving more than five years as Apple’s COO, having joined the company in 1998.<p>
<p>Greg Joswiak - Senior Vice President of Worldwide Marketing.<p>
<p>Deirdre O’Brien - Senior Vice President of Retail and People.<p>
<p>John Ternus - Senior Vice President of Hardware Engineering.<p>
| NASDAQ:AAPL | https://financialmodelingprep.com/market-news/fmp-Who-Will-be-Apple’s-CEO-After-Tim-Cook? | Davit Kirakosyan | Financial Modeling Prep |
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Astra Space trading 20% lower after Failed Rocket Launch | 2021-08-30 20:08:00 | <p>Astra Space, Inc. (NASDAQ:ASTR) stock opened more than 20% lower today as a result of the failed launch of its LV0006 vehicle. The company attempted to make its first commercial launch on Saturday, however, the rocket was unsuccessful in reaching orbit. It lost one of its five engines immediately after liftoff, hovering sideways as it was not able to amass enough power to go vertical. Eventually, the rocket was able to correct itself for two and a half minutes, but a command of engine shutdown was initiated as the trajectory was too far off course. The rocket reached an altitude of 50km and fell down into the ocean.<p>
<p>The company has opened an investigation and is working closely with the Federal Aviation Administration to understand the reasons for the failure.
The company’s founder, chairman, and CEO Chris Kemp mentioned that they have learned a lot from this unsuccessful launch and having enough data now to start a review process and use all these relevant findings for serial 7, which is currently in production and is expected to fly soon.<p>
| NASDAQ:ASTR | https://financialmodelingprep.com/market-news/fmp-Astra-Space-trading-20-lower-after-Failed-Rocket-Launch | Davit Kirakosyan | Financial Modeling Prep |
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Dogecoin Climbing Higher | 2021-08-27 22:18:00 | <p>After Thursday’s sell-off, Dogecoin (CRYPTO: DOGE) rose more than 7% today, trading at $0.294884. <p>
<p>Dogecoin, which grew 4,671% since the start of the year, moves in tandem with other major cryptocurrencies, which all may be affected by general market news, such as the scheduled speech by Jerome Powell, Chair of the Federal Reserve of the United States. <p>
<p>Investors are closely watching to find any signals related to the upcoming reduction of Fed’s asset purchase program. If Powell speaks about the reduction of the asset purchase program, cryptocurrency prices will probably drop, finding themselves under pressure. In contrast, if Fed is prone to take aggressive actions, then cryptos are expected to see gains. <p>
| DOGE-USD | https://financialmodelingprep.com/market-news/fmp-Dogecoin-Climbing-Higher | Davit Kirakosyan | Financial Modeling Prep |
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Once youngest female self-made billionaire, Elizabeth Holmes, is heading to trial. | 2021-08-27 22:14:00 | <p>Elizabeth Holmes, the founder and former CEO of Theranos, is heading to trial on September 8, with lawyers scheduled to select juries on Tuesday to decide the fate of the 37-year-old entrepreneur, who is charged with wire fraud and conspiracy. <p>
<p>Theranos reached a valuation of $10 billion in 2015, having around 800 employees and making Holmes the youngest self-made female billionaire. <p>
<p>Holmes, a Stanford dropout, who founded Theranos to revolutionize health care using a desktop analyzer that could perform a full range of accurate and reliable diagnostic tests using just a drop of blood, is now facing 20 years in prison. <p>
<p>According to prosecutors, Holmes misled investors and patients about the company’s technology, raising over $700 million worth of funds from VCs and private investors. Holmes pleaded not guilty and proclaims her actions were not to mislead them. <p>
| https://financialmodelingprep.com/market-news/fmp-Once-youngest-female-self-made-billionaire-Elizabeth-Holmes-is-heading-to-trial | Davit Kirakosyan | Financial Modeling Prep |
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Workday up 10% After Q2 Beat | 2021-08-27 22:12:00 | <p>Workday, Inc. (NASDAQ: WDAY), a company providing cloud-based software for organizations to manage and plan finance and human resources, reported strong Q2 earnings, beating consensus estimates, with commentary suggesting that demand is improving across both HR and financials. Subscription revenue grew 19.5% y/y to $1.11 billion, pushing the total revenue to $1.26 billion. EPS grew 41% q/q to $1.23. <p>
<p>Management raised its guidance for FY2022, with a yearly revenue estimate of $4.51 billion, which represents a 19% increase compared to the previous year. <p>
<p>The company’s co-CEO Chano Fernandez mentioned that Workday business is growing, driven by accelerating demand from large enterprise customers. <p>
<p>According to the analysts at Oppenheimer the company has been a disruptive force in the HCM market over the years and has leveraged its platform to drive TAM expansion both within its core HR market and more broadly in ERP. <p>
| NASDAQ:, WDAY | https://financialmodelingprep.com/market-news/fmp-Workday-up-10-After-Q2-Beat | Davit Kirakosyan | Financial Modeling Prep |
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Bill.com stock up 29% Following Q4 Results | 2021-08-27 22:10:00 | <p>Bill.com Holdings, Inc. (NYSE: BILL) shares surge more than 29% today following the company’s release of its Q4/2021 results. While the company delivered quarterly EPS loss of $0.07, which was worse than the consensus estimates of $0.04, the revenues grew 86% y/y to $78.3 million beating the street estimate of $62.1 million. The company expects total revenue for FY2022 to be $476–480M, which represents a growth of +100% to 102% y/y. <p>
<p>Analysts at Oppenheimer believe the company is poised to be one of the most strategic financial platforms in the worldwide SMB market, with its core competitive differentiators, such as efficient go-to-market strategies and a broad-and-expanding platform that spans payments, A/R, spend management, artificial intelligence, and analytics. <p>
| NYSE:, BILL | https://financialmodelingprep.com/market-news/fmp-Billcom-stock-up-29-Following-Q4-Results | Davit Kirakosyan | Financial Modeling Prep |
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Marvell Technology Posted Q2 Beat/Raise | 2021-08-27 22:08:00 | <p>Marvell Technology, Inc. (NASDAQ: MRVL), a company designing chips for storage and data infrastructure, reported its Q2/2022 earning results on Thursday. The company posted a record quarterly revenue of $1.076 billion (48% growth y/y), beating the consensus estimates. As mentioned by the company’s President and CEO Matt Murphy, Marvell’s quarterly growth was driven by data center, now representing 40% of the company’s total revenue. <p>
<p>According to the analysts at Oppenheimer, who raised their price target on the company’s shares to $75 from $70 today, the company is benefiting from several recent acquisitions, in particular (1) CAVM expanded Marvell’s networking portfolio from legacy PHYs and switches to processors, (2) AQ bolstered with automotive connectivity bringing multi-gig PHYs into the mix, (3) Avera added 5G DFE content and custom ASIC. <p>
<p>An important update from the company during the call was the clarity it is going to provide on the end-market drivers of its growth. Instead of reporting revenues for its 3 end markets (networking, storage, and other), Marvell is going to provide for 5, which are data center, carrier infrastructure, enterprise networking, consumer, and automotive/industrial. <p>
<p>Analysts at Deutsche Bank believe that this transparency will give investors greater confidence in the depth, breadth and sustainability of Marvell’s growth opportunities. <p>
| NASDAQ:, MRVL | https://financialmodelingprep.com/market-news/fmp-Marvell-Technology-Posted-Q2-BeatRaise | Davit Kirakosyan | Financial Modeling Prep |
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Autodesk Q2/22 preview | 2021-08-27 22:06:00 | <p>Autodesk, Inc. (NASDAQ; ADSK) is expected to beat the consensus again on Aug 25, when it will report its Q2 earnings. The company posted better-than-expected results in the last two quarters with an average surprise of 9.93%. <p>
<p>Wall Street analysts expect the company to post EPS of $1.12 and revenue of $1.05 billion, a 15.52% growth year-on-year. <p>
<p>Analysts at RBC Capital Markets expect the company to deliver strong quarterly results given improving end markets, positive checks, and bullish job posting data. It also expects guidance to have an upward bias through the year as momentum builds into FY/23. <p>
<p>Longer-term, the brokerage remains comfortable with +10% revenue growth beyond FY/23 as it believes the company remains well-positioned with several durable growth trends. <p>
<p>Investor sentiment has improved recently with shares +13% since Q1/22 earnings vs. the S&P 500 +6%, as shares have moved notably higher following the termination of Altium acquisition discussions. <p>
| NASDAQ;, ADSK | https://financialmodelingprep.com/market-news/fmp-Autodesk-Q222-preview | Davit Kirakosyan | Financial Modeling Prep |
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Peloton Q4 Earnings Preview | 2021-08-27 22:04:00 | <p>Peloton Interactive Inc. (NASDAQ: PTON) will report fiscal Q4 results this Thursday. Wall Street analysts have an average Overweight rating on the company with price targets ranging from $45 to $185. Shares closed 1.37% lower on Monday at $106.59. <p>
<p>Analysts expect the company to post a revenue of $923.5 million and $0.34 EPS loss vs. revenue of $607.1 million and $0.27 EPS in the same quarter last year. <p>
<p>The company saw a decline in its stock price at the start of the year, but climbed back from May when the news on Delta variant hit the US headlines. <p>
<p>Oppenheimer analysts lowered their revenue estimates by 6% to $4.98 billion ahead of Q4 report, as 3P data suggests a slowdown in June/July product deliveries and connected-fitness sub growth. Analysts mentioned that the outgoing visits to Affirm.com (onepeloton.com to affirm.com has an 88% correlation to hardware (Bikes + Treads) deliveries) declined 38% quarter-on-quarter. While the brokerage believes the company will meet Q4 connected-fitness sub expectations on shorter-delivery times, it now expects 2022 guidance to be more conservative, and below consensus expectations. <p>
<p>However, Oppenheimer analysts mentioned that they remain long-term bulls on the company and will use post-quarter weakness as a buying opportunity.<p>
| NASDAQ:, PTON | https://financialmodelingprep.com/market-news/fmp-Peloton-Q4-Earnings-Preview | Davit Kirakosyan | Financial Modeling Prep |
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$166 billion valued Moderna may become even bigger | 2021-08-27 22:02:00 | <p> Share prices of Moderna (NASDAQ: MRNA), the Covid-19 vaccine maker, rose more than 7% on Monday, closing at $411,89. The company, which was the biggest biotech to go public (Dec 2018) is now the top performer in the S&P 500 index in 2021, surging around 267% since the start of the year. The company reported $5.9 billion Covid-19 vaccine sales in the first half of 2021 and has signed $20 billion worth of purchase agreements for its vaccine this year and a projected $8 billion for next year. <p>
<p>While many wonder if the company’s market capitalization, which is now roughly $166 billion will soon cross the $1 trillion mark in case it sustains the current growth levels, some analysts question the rally, viewing biotech as overhyped and becoming detached from its value proposition.<p>
<p>According to the estimates by Bank of America earlier this month, the company’s 200 billion market capitalization (start of August) is only justified in case it manages to sell yearly $1-1.5 billion vaccines from 2022 to 2038.<p>
<p>However, as Covid-19 is becoming endemic, the company’s sales are going to fall, already seen by the projected $8 billion for 2022 vs. $20 billion in 2021. And it’s not realistic to think that the company will be able to sustain its early-stage success for longer periods. <p>
| NASDAQ:, MRNA | https://financialmodelingprep.com/market-news/fmp-$166-billion-valued-Moderna-may-become-even-bigger | Davit Kirakosyan | Financial Modeling Prep |
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Bitcoin surges above $50,000 again | 2021-08-27 21:57:00 | <p><b>Bitcoin </b>price is trading above $50,000 for the first time since May 15, after several months of heavy fluctuations. Bitcoin prices saw an increase from the start of the year driven mainly by retail investors’ enthusiasm, who were placing bets on the positive effect of more U.S. stimulus spending on bitcoin prices. </p>
<p><b>Bitcoin hit its all-time high </b>in April, reaching $65,000, but plunging to $28,800 in June driven by China’s escalation of its crackdown on cryptos and Tesla’s announcement, according to which it won’t accept bitcoin as payment for its electric vehicles. </p>
<p>Prices started to climb again last month after several big companies signaled their support of cryptocurrencies. </p>
<p>Below we have outlined several major drivers for the surge in bitcoin prices: </p>
<ul>
<li>Bullish comments from Tesla and Twitter chief executives Elon Musk and Jack Dorsey, who shared their plans of incorporating digital currencies in their business operations.</li>
<li>A speculation of the possibility that Amazon is preparing to accept cryptos as a payment for goods.</li>
<li>Coinbase’s announcement, according to which it is purchasing $500 million worth of cryptocurrencies and is planning to allocate 10% of its profits for buying cryptos. </li>
<li>PayPal’s announcement to give users in UK a possibility to buy, hold and sell bitcoin, ethereum, litecoin and bitcoin cash. </li>
</ul> | BTC-USD | https://financialmodelingprep.com/market-news/fmp-Bitcoin-surges-above-$50000-again | Davit Kirakosyan | Financial Modeling Prep |