Thursday’s Headlines: Zuckerberg Takes On The Apple Watch
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Tripadvisor (TRIP) +2.8%
Twitter (TWTR) +1.5%
Atlassian (TEAM) +1.5%
Lemonade (LMND) +1.5%
Arista Networks (ANET) +1.4%
Moving Down ⬇️
Chuy's (CHUY) -7.6%
Calavo Growers (CVGW) -7.1%
Brown-Forman (BF.B) -5.6%
Boston Beer Co. (SAM) -4.9%
1. Facebook (FB) is fleshing out its range of products with a rumored smartwatch said to be debuting next year. According to multiple reports, the smartwatch will have two cameras, health features like a heart rate monitor, and will cost around $400. Facebook has previously discussed its plans for wrist-wearable technology that can sense signals and measure hand gestures. The company declined to comment but pointed to tweets from Andrew Bosworth, Vice President of AR and VR, who said the company is creating tech that can make its AR glasses more useful. The new smartwatch will also aid Mark Zuckerberg’s plan to build more consumer devices to compete with the Apple (AAPL) Watch. Check out the full story here.
2. Amazon (AMZN) Care is off to a great start, with the e-commerce giant already having attracted multiple companies that are interested in using the telehealth service. Babak Parviz, Vice President of Amazon Care, made the announcement at The Wall Street Journal’s Tech Health virtual event yesterday and said it will unveil which companies signed up later this summer. Amazon has always had plans to disrupt the healthcare industry, and after its failed ‘Haven’ venture with Berkshire Hathaway (BRK.B) and JPMorgan (JPM) ended operations in February, it looks like the tech giant is finally making good progress. Following the news, shares in Teladoc (TDOC), a major telemedicine provider and rival to Amazon Care, slid 1.6%. More here.
3. High-end furniture retailer RH (RH) smashed Wall Street’s profit and sales estimates for Q1. The company’s net income grew to $130.7 million, or $4.19 per share, compared to a loss of $3.2 million, or $0.17 per share in the year-ago period. Meanwhile, revenue surged 78% to $861 million thanks to a strong housing and renovation market. Building on the momentum it is seeing in the luxury home division, RH also hiked its outlook for the rest of 2021, predicting revenue growth between 25% to 30%. RH boss, Gary G. Friedman, explained that the company has secured five locations in Europe and is in negotiations for an additional five. Read the press release here.
Some more earnings from last night:
The Jack Daniel’s maker reported earnings that missed expectations, posting adjusted earnings per share of $0.25 and net sales of $812 million, up 14% year-over-year (YoY). Chief Financial Officer, Jane Morreau, is looking forward to alcohol sales surging when pandemic restrictions ease, stating: “We remain confident in the collective strength of our markets and should benefit from the re-opening of the on-premise channel and increase in tourism.” Read the full press report here.
Despite a tough retail environment, the company reported better-than-expected Q4 results, with diluted quarterly earnings of $1.12 per share, down from $1.67 YoY, on revenue of $2.38 billion, up 31% from the year-ago period. CEO, Darren Rebelez, excitedly explained Casay’s momentum behind their digital engagement efforts, private brand products, prepared foods business, and two large acquisitions. Read the full press release here.
Get this week’s full earnings calendar here.