Monday’s Headlines: Why Is Slack Up 4%?
1. Shares in Slack shot up nearly 4% on Friday after a report that Uber will roll out the cloud-based instant messaging app to all of its nearly 28,000 employees. The report was made by Business Insider, citing a source familiar with the discussions. However, the story comes on the heels of another Business Insider report on February 10 that IBM was moving all of its 350,000 employees to the work-messaging platform until Slack announced later that same day that IBM had been a customer for years already. Read the full story here.
2. Texas Roadhouse Inc. saw its shares close out the week up nearly 8% after an earnings beat and strong same-store sales. The restaurant chain reported 4.4% same-store sales growth at company-owned restaurants in the fourth quarter and 3.4% growth at U.S. franchises. Texas Roadhouse shares have gained 4.4% over the past year, and 15% over the past three months, compared to the S&P 500’s 21.6% gains in the last year. Get the complete report here.
3. Shares in online car-shopping service TrueCar cratered 11% by market-close Friday, following an earnings report that underwhelmed, despite beating Wall Street expectations. Revenue of $89.7 million and a net loss of $0.08 per share was down from a year ago and was good enough to push TrueCar's full-year results above the guidance ranges it provided in November. However, the retailer’s guidance was disappointing, and will likely result in the stock opening at a 52-week low. Read here for the full story.