Friday’s Headlines: Microsoft Takes A Shot At Apple

Friday’s Headlines: Microsoft Takes A Shot At Apple

Here were the biggest movers in the MyWallSt shortlist this week:

Moving Up ⬆️

The Trade Desk (TTD) +24.6%

ShotSpotter (SSTI) +18.0%

Roku Inc. (ROKU) +15.0%

Nordstrom (JWN) +13.1%

Twitter (TWTR) +12.2%

Moving Down ⬇️

Huazhu Hotels Group (HTHT) -2.5%

nCino (NCNO) -2.4%

Monster Energy (MNST) -1.8%

iRobot (IRBT) -1.3%

Amazon (AMZN) -1.1%

1. Rivalry is brewing in the Big Tech pond after Microsoft’s (MSFT) CEO Satya Nadella seemingly positioned the company as the anti-Apple (AAPL) yesterday. Nadella unveiled the biggest changes coming to Windows 11, highlighting how its new operating system is different from the iPhone maker’s. Nadella explained: “Today the world needs a more open platform, one that allows apps to become platforms in their own right,” referring to complaints Apple has received over how it unfairly controls developers in its App Store. Microsoft is introducing more open practices in the hopes of creating new opportunities for smaller publishers. In related news, Microsoft joined Apple in the $2 trillion market value club this week. More here

2. Footwear giant Nike (NKE) saw its shares soar over 14% in after-hours trading yesterday after it booked record-breaking revenue of $5.38 billion for Q4 in North America. Nike smashed analysts' estimates, recording diluted earnings per share of $0.93 and revenue of $12.3 billion, up 96% from a year earlier, fueled by ongoing demand for comfortable clothing. Shareholders were also pleased to see the popular brand post better-than-expected sales outlook for the upcoming year thanks to growing optimism for its womens' line and Jordan sneaker range. In China, sales were up 17% at $1.93 billion despite buyers in the region threatening a boycott of the company over allegations of forced labour. Read the full press release here

3. Impressive financials were also reported by FedEx (FDX) last night, delivering record revenue and earnings for the fourth quarter. Due to exceptional growth in shipping during the quarter, the company reported $22.6 billion in revenue, up 30% year-over-over (YoY), and adjusted net income of $1.36 billion which was well above last year’s $663 million. The parcel-delivery giant admitted that it took a hit from increased costs associated with heightened demand for its services and higher labor fees, with total operating expenses increasing 23% YoY. Despite unpacking positive numbers, FedEx shares fell over 4% in late trading yesterday due to investors growing concerned about the company’s rising costs and hiring struggles. Read the full press release here

NicoleNicole

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