Wednesday’s Headlines: Bumble Attracts Some Attention
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Tripadvisor (TRIP) +11.8%
Airbnb (ABNB) +8.0%
Planet Fitness (PLNT) +6.0%
TrueCar (TRUE) +5.5%
Lemonade (LMND) +5.1%
Moving Down ⬇️
Shopify (SHOP) -8.2%
CrowdStrike (CRWD) -6.4%
The Trade Desk (TTD) -5.7%
Brown-Forman (BF.B) -5.5%
Align Technology (ALGN) -4.7%
1. Bumble (BMBL) is trading up almost 20% pre-market following a positive earnings call yesterday after market close. The dating app produced earnings per share (EPS) of -$0.08 on revenue of $208.2 million for the quarter. Analysts had expected earnings of -$0.02, but the firm's revenue figures represented growth of 25.7% year-over-year (YoY). Slowing growth in the company’s ‘Badoo’ app was mitigated by 42% YoY revenue growth for the company’s flagship ‘Bumble’ app. According to CEO, Whitney Wolfe Herd, “we successfully executed on our core strategic priorities: driving scale and engagement, increasing monetization, and improving profitability.” The recent acquisition of French app ‘Fruitz’ will also hopefully add further value to the company’s offerings going forward. Read more on the story here.
2. Lululemon (LULU) has announced plans to unveil its first official foray into the footwear market. The Canadian athleisure company is set to release a running shoe for women called ‘Blissfeel.’ The shoe will be available for purchase on March 22 in markets spanning the U.S., United Kingdom, and China. This move will put the company toe-to-toe with footwear heavyweights such as Nike (NKE), or even more niche brands such as Allbirds. According to CEO Calvin McDonald, this “represents an exciting moment for our brand.” The firm also revealed plans to launch a men’s footwear collection next year, along with three further women’s releases later this year. To find out more, click here to read Lululemon’s full press release.
3. Shares in Stitchfix (SFIX) are down over 20% in pre-market trading following the company’s fiscal Q2 earnings report last night. The online styling service equaled analyst expectations with its earnings, posting a loss of $0.28 per share, while beating predictions for revenue, posting $516.7 million against an anticipated $514.8 million. As has been the case for many companies this earnings season, the problems arose when it came to the firm's outlook. Forecasted revenue growth is only expected to be 7% for the next quarter — a 10% decline on the previous year. The company also predicts flat to slightly declining revenue for the full year, where analysts had been expecting growth of roughly 8%. Read Stichfix’s full release here.
Some more earnings from last night:
Casey’s (CASY) beat earnings expectations yesterday in a solid earnings call. The convenience store chain reported EPS of $1.71 against an expected $1.45, on revenue of $3.05 billion. According to President and CEO, Darren Rebelez, “our balance sheet remains strong, and we are confident in our ability to achieve the previously stated fiscal 2022 outlook.” Find out more here.
Yext (YEXT) reported an adjusted loss per share of $0.03 against an estimated loss of $0.08, on revenue of $100.9 million against a predicted $101.2 million. Despite this earnings beat, guidance for the upcoming quarter underwhelmed, with predictions of a loss per share between $0.07 and $0.08 coming in below the figure from the year-ago quarter. Read more here.
There are two companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.