Thursday’s Headlines: NIO Enters The Fast Lane

Thursday’s Headlines: NIO Enters The Fast Lane

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Coupa Software (COUP) +3.4%

Etsy (ETSY) +2.9%

Axos Financial (AX) +2.9%

Eventbrite (EB) +2.9%

Cognizant Technology Solutions (CTSH) +2.7%

Moving Down ⬇️

Wix (WIX) -17.0%

ShotSpotter (SSTI) -6.5%

GoPro (GPRO) -6.3%

The Trade Desk (TTD) -5.9%

Cloudflare (NET) -5.1%

1. Tesla’s (TSLA) biggest rival in China, NIO, smashed Wall Street’s earnings estimates yesterday thanks to delivering 21,896 vehicles in Q2. The Shanghai-based firm posted revenues of 8.44 billion yuan ($1.3 billion), representing a 127% year-over-year (YoY) surge. NIO also recorded a loss of 0.42 yuan ($0.07) per share, narrower than the 0.68 yuan ($0.10) expected. While it still faces chip shortages, NIO boss, William Bin Li, assured shareholders that they have “been working closely” with the company’s partners to “improve the overall supply chain production capacity.” Li also confidently stated that NIO is still on target to deliver its first sedan, the ET7, as well as three new products next year. See the full press release here

2. As part of Amazon’s (AMZN) world domination plans, and to speed up deliveries, the firm has finally opening its $1.5 billion air hub in northern Kentucky. Amazon Air, its air cargo arm, already operates in over 40 U.S. airports but this new terminal will help Amazon supercharge its one-day and same-day delivery capabilities in more locations. The hub will have the capacity for 100 Amazon-branded planes and will handle around 200 flights per day to help it reach its goal of bringing more of its air cargo operations in-house. Investors have been looking forward to the hub’s launch as faster deliveries should help the king of e-commerce catch up to its carrier competitors such as UPS (UPS) and FedEx (FDX). More on the story here

3. Bumble (BMBL) investors fell in love with the dating app last night after it smashed revenue estimates, boosted by a 20% jump in paying members. The Texas-based firm reported a loss of $11.1 million, or $0.6 per share, compared to a loss of $5.47 million in the year-ago period, and a 38% leap in revenue to $186 million. These loses can be attributed to Bumble expanding big on marketing and expansion into new markets efforts, with total operating expenses up over 50% YoY. A rise in users also looking for friendship matches helped Bumble’s download numbers, which were up 18% YoY in the U.S. during the quarter. For Q3, Bumble estimated ambitious revenues of up to $198 million. As the Delta variant threatens more lockdowns and a slower economic reopening, investors are debating how dating apps will fare if singletons don’t turn to these services in the same volumes witnessed over the past year. Access the full earnings report here

One more earning from last night:

Wix (WIX)
Just like in the previous quarter, website builder Wix reported a mixed bag for its second quarter earnings, posting a loss of $0.28 per share, up from a loss of $0.26 a year ago. Wix recorded revenues of $316 million, up 34% YoY, which smashed Wall Street’s estimates but investors sentiment was dampened by warnings of a possible slowdown in new user growth due to high levels of uncertainty in the current market. Read the full press release here

There is one company on the MyWallSt shortlist that will report earnings today:

Disney (DIS)

Get this week’s full earnings calendar here

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