Monday’s Headlines: Clubhouse Is Coming To Android

Monday’s Headlines: Clubhouse Is Coming To Android

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️ (BILL) +18.3%

Roku Inc. (ROKU) +11.5%

Redfin (RDFN) +8.6%

Datadog (DDOG) +8.3%

The Trade Desk (TTD) +8.0%

Moving Down ⬇️

DraftKings (DKNG) -6.7%

Planet Fitness (PLNT) -4.3%

Monster Energy (MNST) -4.0%

Chuy's (CHUY) -3.4%

TrueCar (TRUE) -3.3%

1. Invitation-only audio chat room, Clubhouse, is finally available on Google’s (GOOG) Android OS for U.S. users. Up until now, Clubhouse was only available to iPhone users but, since then, its app downloads have plummeted, down from 9.6 million downloads in February to just 900,000 in April. The move to Android will hopefully boost Clubhouse’s app downloads, but the company said “as part of the effort to keep the growth measured”, the app will remain invite-only. The news that Clubhouse is expanding its reach comes at an important time as tech rivals Spotify (SPOT) and Microsoft's (MSFT) LinkedIn are testing their own versions of audio-only features. Read more on the story here.  

2. On Friday, sports-betting company DraftKings (DKNG) posted a better-than-expected earnings report. The company posted a loss per share of $0.36 on higher revenues of $312 million, up 253% compared to the year-ago period. During the first quarter, DraftKings attracted 1.5 million monthly unique paying customers while average revenue per customer came in at $61, up 48% year-over-year (YoY). The company noted that cross-selling and increased engagement with its iGaming and mobile sports betting product offerings helped Draftkings retain customers in Q1. The gambling company has been able to ride the wave of growing sports betting legalization across the U.S, helping the stock jump almost 20% over the last 6 months. In more positive news, Draftkings also raised their full-year guidance to $1.15 billion. See the full press release here.  

3. Unfortunately for TripAdvisor (TRIP), the travel company’s earnings report was not so positive. TripAdvisor posted a loss of $0.39 per share, down 657% over the past year, while revenue of $123 million declined by more than 55% YoY. Even though COVID-19 restrictions are still disrupting the travel industry, monthly unique users on TripAdvisor-branded websites were up 58% compared to 2019’s comparable period (pre-COVID-19) driven by vaccine progress and leisure travel improving recovery. Despite missing estimates, CEO Steve Kaufer, remained positive on the call, stating: “Q1 demonstrated consumers want to get back out there and travel.” Check out the full press release here

There are 3 companies on the MyWallSt shortlist that will report earnings today:
Nautilus (NLS)
The Trade Desk (TTD)
Markel Corp (MKL)

Get this week’s full earnings calendar here


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