Thursday’s Headlines: Time To Cash In Your Tweets

Thursday’s Headlines: Time To Cash In Your Tweets

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Redfin (RDFN) +6.4%

Cloudflare (NET) +5.1%

Roku Inc. (ROKU) +4.5%

Lemonade (LMND) +4.4% Group (TCOM) +3.9%

Moving Down ⬇️

Eventbrite (EB) -2.8%

Arista Networks (ANET) -2.7%

Autodesk (ADSK) -2.2%

ShotSpotter (SSTI) -2.1%

Planet Fitness (PLNT) -1.8%

1. If you’re a regular tweeter, you will be very happy to hear the latest product release from Twitter (TWTR). On Wednesday, the micro-blogging site launched Super Follows on iOS, a feature which allows users with over 10,000 followers to charge others for access to subscriber-only content. By giving their most-followed users the ability to make money on the platform, Twitter will now become more attractive to content creators. Social media rivals Snapchat and TikTok enjoyed a surge in popularity when they offered their users opportunities to make money on their platforms. Access to Super Follows may be limited, but this addition is sure to result in higher engagement on the platform which could bring in more ad revenue. See the full story here

2. Ongoing supply chain issues have forced Tesla (TSLA) to delay the release of its new version of the Roadster until 2023. Yesterday, CEO Elon Musk tweeted: “Assuming 2022 is not mega drama, new Roadster should ship in 2023.” The debut of this model was supposed to launch in 2020, with Musk later promising that the next-generation version would be sold with a premium “SpaceX option” including rocket thrusters that would allow the vehicle to hover above the ground. Whilst Tesla battles with ongoing safety investigations and probes into its autonomous driving features, another delay in production times might spell trouble for the stock. Check out the full report here

3. Despite smashing Wall Street’s earnings estimates, shares in the company fell after Veeva Systems (VEEV) fell short on revenue expectations. The cloud solutions provider posted a 29% jump in sales from its subscriptions services compared to the year prior, on total revenue of $455.6 million, also up 29% from the previous year. Adjusted earnings per share came in at $0.94, beating estimates of $0.87 but shareholders focused on the revenue miss. CEO, Peter Gassner, was still very confident on the call, explaining: “Rapid innovation is driving expansion in existing markets and significant early traction in newer areas like CDMS and safety as we start to realize the major potential of Veeva Development Cloud.” Read the full report here

Some earnings from last night: 

Brown-Forman (BF.B)
The Kentucky-based company reported solid results yesterday, posting net sales growth of 20% for its Jack Daniels brand on total revenue of $906 million. During the quarter, the alcohol maker expanded its international markets which maintained double-digit net sales growth driven by sales growth in Germany, France, Korea, and Spain. Read the full report here

nCino (NCNO)
It was a mixed bag for the financial technology company, posting a loss in earnings of $0.02 per share but nCino smashed revenue estimates, reporting sales of $66.52 million, up 36% YoY. CEO of nCino, Pierre Naudé, boasted on the call: “We are extremely pleased with the results of our second quarter, which include 37% year-over-year growth in subscription revenues, 129% year-over-year growth in international revenues, and record second quarter sales.” Read the full report here

There are four companies on the MyWallSt shortlist that will report earnings today: 

DocuSign (DOCU)
Duluth (DLTH) 
PagerDuty (PD)
Yext (YEXT)

Get this week’s full earnings calendar here