Wednesday’s Headlines: Teladoc Reports Good Health
Morning folks! Did anyone get yesterday’s puzzle?
The answer was President’s Day.
See if you can figure out today’s puzzle, and let us know on Twitter @MyWallStHQ if you think you’ve got it.
Hint: A lot of companies are having issues with this right now.
We’ll reveal the answer in tomorrow’s headlines.
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Roku Inc. (ROKU) +8.5%
DraftKings (DKNG) +7.5%
Redfin (RDFN) +3.5%
Avalara (AVLR) +2.1%
Twilio (TWLO) +1.8%
Moving Down ⬇️
Baozun (BZUN) -12.8%
The Home Depot (HD) -8.9%
Upstart Holdings (UPST) -7.3%
Lemonade (LMND) -7.1%
RH (RH) -6.6%
1. Teladoc (TDOC) posted both a solid earnings beat and a positive 2022 outlook yesterday in its Q4 earnings report. The virtual healthcare platform posted a loss per share of $0.07 on revenue of $554.2 million, while analysts were expecting a loss of $0.57 on revenue of $547 million respectively. The company also presented a 2022 outlook predicting growth of 30% at the top end, fully in line with analyst estimates. CEO Jason Gorevic announced that “healthcare now has a ‘new normal’” as a result of the pandemic and Teladoc looks well placed to take advantage of this. The initial response to the call saw shares in the stock fall by over 6%, but this loss has since dropped and shares in Teladoc remain relatively flat pre-market. Read the full earnings report here.
2. Shares in Home Depot (HD) slumped by almost 9% yesterday following its quarterly earnings call. The company’s financials were solid, reporting earnings per share (EPS) of $3.21 against an expected $3.18, on revenue of $35.72 billion versus a predicted $34.88 billion. However, concerns around slowing growth as we enter into a post-pandemic world have spooked investors. As the company’s Chief Financial Officer, Richard McPhail, put it, “broader uncertainty remains with respect to the impact of inflation, supply chain dynamics and how consumer spending will evolve this year.” The outlook for 2022 was understandably muted in the wake of this, with only low single-digit earnings growth expected. This was enough to send shares tumbling across the entire home improvement sector. Find out more by clicking here.
3. South-American e-commerce company MercadoLibre (MELI) posted an earnings beat last night following a 5% dip earlier in the day. The company posted a loss per share of $0.92 — outpacing predictions of $0.95 — on revenue of $2.1 billion versus an expected $2.02 billion. The firm had been trading down yesterday as investors continue to rotate away from growth and tech stocks as fear and uncertainty rise around an impending war in Ukraine. However, MercadoLibre is now up over 9% in pre-market trading following its earnings report. CEO Pedro Arnt summed up the company’s fortunes by outlining that, “the final outcome was a year with record results across the board.” Click here to see the earnings report in full.
Some more earnings from last night:
Texas Roadhouse (TXRH) posted a mixed earnings report yesterday, beating on earnings with EPS of $0.76 against a predicted $0.67, but missing on revenue with $895.6 million versus an expected $897.6 million. Inflation, staffing challenges, and supply shortages were all named as issues continuing to face the company. Read more here.
Shotspotter (SSTI) posted an adjusted loss per share of $0.12 on revenue of $14 million for the fourth quarter. This represents a huge miss, with analysts expecting earnings of $0.01. This company also missed on revenue, posting $13.97 million against an expected $16.03 million. Find out more here.
There are five companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.