Monday’s Headlines: From Russia? No Love…
Morning folks! The answer to Friday’s anagram was Earnings Season.
Can you get today’s anagram?
Visit us on Twitter @MyWallStHQ if you think you have the answer.
Here were the biggest movers in the MyWallSt shortlist on Friday:
Moving Up ⬆️
Zillow (Z) +13.5%
Nautilus (NLS) +4.5%
Chuy's (CHUY) +3.8%
iRobot (IRBT) +3.2%
Calavo Growers (CVGW) +3.0%
Moving Down ⬇️
BlackLine (BL) -15.8%
Under Armour (UAA) -12.5%
Avalara (AVLR) -9.7%
Cloudflare (NET) -9.5%
1. Stock futures took a hit at the tail-end of last week as the world continues to do its best rendition of R.E.M.’s ‘It’s The End Of The World As We Know It’. A tad on the nose for a Monday morning, but good news for the S&P 500, Nasdaq, and Dow Jones, which are tipping into green territory once more pre-market, even amid tensions between the U.S. and Russia over Ukraine. It’s likely to be yet another rocky week though as continued rising inflation, oil price and treasury hikes, and further tensions between global superpowers spook Wall Street. Best hold on to your hats folks and read more on this developing situation here.
2. In thoroughly less seismic news, Under Armour (UAA) was yet another victim of disappointing guidance and the ubiquitous “supply chain issues” excuse on Friday. Having topped expectations for Q4 with earnings of $0.14 per share on revenue of $1.53 billion — versus $0.07 and $1.47 billion expected — CEO Patrik Frisk was quick to dampen the mood. Citing “ongoing uncertainty in the marketplace”, the company, rather confusingly, still gave improved sales growth estimates of mid-single-digit range, making it rather unclear as to where the company expects shortcomings. Overall though, it was actually a very strong quarter for Under Armour which continues to seek a return to its 2015 highs. Read the official press release here.
3. It was a bad day at the office for (BlackLine (BL)](BL) on Friday after reporting a Q4 earnings miss. The cloud-based accounting software specialist was forecast to earn $0.10 per share on $113.6 million in revenue in Q4, and while the company did grow its sales 20% year-over-year (YoY) to $115.3 million, it missed on earnings, reporting a profit of $0.08 per share. The kicker came from — you guessed it — guidance! Management predicted losses between $0.07 per share and $0.10 per share in Q1, while analysts predicted a $0.10 per share profit. While it’s tough for investors to ignore short-term projections such as this, buy-and-hold investors are reminded to check out the bull thesis behind BlackLine’s inclusion in MyWallSt. You can also access the earnings report here.
There is just 1 company on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.