Monday’s Headlines: Is Spotify In Trouble?
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Atlassian (TEAM) +9.7%
Mastercard (MA) +9.1%
2U (TWOU) +8.2%
Bill.com (BILL) +7.7%
Lovesac (LOVE) +7.1%
Moving Down ⬇️
Gentex (GNTX) -1.6%
Netflix (NFLX) -0.6%
Nordstrom (JWN) -0.3%
Ericsson (ERIC) -0.2%
Pinterest (PINS) -0.1%
Morning folks! We’ve decided to bring you a little brain teaser to get your brain juices flowing. See if you can unjumble the investing-related anagram below and let us know on social media @MyWallStHQ if you think you’ve got it.
We’ll reveal the answer in tomorrow’s headlines.
1. Shares in streaming giant Spotify (SPOT) plummeted last week over a dispute with music legend, Neil Young. Young took issue with Spotify’s promotion and exclusive production of the controversial ‘The Joe Rogan Experience’ podcast, which he has accused of spreading vaccine misinformation. Unfortunately, other musicians have followed suit since, such as Joni Mitchell, with plenty of public backlash from consumers too who are threatening to boycott. In response, CEO Daniel Ek stated last night that misinformation warnings would be placed on COVID-related content, in the hopes it will shore up investor confidence prior to Wednesday’s earnings report. Read more here.
2. No Apple (AAPL) investor will be happier than Warren Buffett today after Berkshire Hathaway (BRK.B) notched $9.8 billion in growth following last Thursday’s earnings win from the iPhone maker. Following Apple’s record quarter — in which it took in revenue of $124 billion — Berkshire, which owns 5% of all outstanding Apple shares — saw its own share price jump into the green. “I don’t think of Apple as a stock. I think of it as our third business,” Buffett told CNBC in 2020, calling it “probably the best business I know in the world.” High praise indeed from arguably the greatest ever investor. Read the full report here.
3. Advanced automotive tech provider, Gentex (GNTX) reported relatively unexciting Q4 figures in its earnings report on Friday. Total 2021 net sales growth of 3% year-over-year (YoY) to $1.73 billion as well as earnings per share of $0.35 elicited a muted response from investors, with shares flat pre-market. However, given the recent market volatility we’ve experienced, such a response to a less-than-impressive earnings call is cause for optimism. Looking into 2022, we are forecasting more growth in FDM based on pent-up demand as well as several new FDM program launches, which we expect to accelerate our overall growth in 2022 and 2023,” said CEO Steve Downing. Read the official press release here.
Get this week’s full earnings calendar here.