Monday's Headlines: Netflix Launches 'Tadum'
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Ford Motor Company (F) +9.6%
Costco (COST) +6.6%
Casey's (CASY) +3.1%
IMAX (IMAX) +3.0%
Microsoft (MSFT) +2.8%
Moving Down ⬇️
Upstart Holdings (UPST) -10.5%
Lemonade (LMND) -7.1%
Sea Limited (SE) -6.6%
Cloudflare (NET) -6.5%
iRobot (IRBT) -5.7%
1. Netflix (NFLX) has put together a brand new website that acts as an online fanbase where its viewers can track renewals, browse upcoming fresh content, and discover extra content relevant to their favorite series. The website, named ‘Tudum’, is derived from the platform’s iconic audio sound users hear when initially opening up the app to stream. It will act as a search database for all Netflix viewers' follow-up queries related to their favorite series and movies, including exclusive footage such as cast interviews and behind-the-scenes stories. This move showcases Netflix’s dedication to becoming the home of entertainment with Chief Marketing Officer, Bozoma Saint John, saying that this initiative is “just the beginning”. Read the full story here.
2. Stock market volatility may not be over for a while yet. Inflation in the U.S. for the month of November was the highest it has been since 1982 according to the most recent data released last week. Some economists forecast stimulus programs now to end by March, proposing that plans by the Federal Reserve to increase interest rates to subside inflation will begin in June 2022. The announcement gave growth stocks a further thrashing last week, sending many high-flyers to 52-week lows, particularly companies that are currently unprofitable. The shining stars throughout all of this appears to be Big Tech, with many investors turning to Apple (AAPL) in particular, as a guiding light in the storm of red. Read the full story here.
3. Vail Resorts (MTN continued to be impacted by ongoing COVID-19 consequences but its net loss narrowed in the most recent quarter. Vail noted a stronger uptick in traffic and in renewed pass holders that did not visit in the season prior, as well as onboarding new pass holders to its ski business. Revenue increased 33% year-over-year (YoY) to $176 million and its net loss narrowed to $139 million compared to a net loss of $154 million in Q3 2020. Vail continued its growth plans, announcing its most recent acquisition of Seven Springs Mountain Resort, one of the largest ski resorts in Pennsylvania, last week. The company has $1.5 billion in cash, access to a revolving credit facility, with its dividend still in place, suggesting management’s optimism for a rebound and continued growth. Read the full press release here.
Get this week’s full earnings calendar here.