Friday’s Headlines: Tech Leads The Way On Wall Street

Friday’s Headlines: Tech Leads The Way On Wall Street

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

TWLO +39.6%

PTON +16.0%

PYPL +14.0%

Z +11.8%

EVH +10.7%

Moving Down ⬇️

DLTH -2.0%

ETSY -2.1%

CASY -2.5%

HTHT -5.2%

MTCH -5.4%

1. U.S. stock futures look set to open in the green today after a tech-led rally on Thursday saw the Nasdaq Composite erase all of its losses for 2020. The tech-heavy index led the way with massive gains from the likes of Twilio, Peloton, PayPal, and more, and crawled into positive territory for 2020, having fallen as much as 25% year-to-date. Dow Jones futures were up 235 points, implying an opening gain of about 276 points on Friday, with the S&P 500 also looking set to end the week on a positive note. Read the full story here.

2. Roku’s exposure to growing streaming competition led to it beating expectations with a net loss of $0.45 per share on revenue of $320.76 million. The brand-agnostic streaming platform reported a 28% increase in its key average revenue per user metric to $24.35 from $19.06 per user a year ago. Streaming hours came in lower than expectations, however, at 13.2 billion hours versus expectations for 13.6 billion hours. Get the full report here.

3. Trade Desk earnings and revenue for the first quarter topped analyst estimates amid a slowdown in digital advertising, but its stock still fell after hours. The California-based company reported adjusted earnings of $0.90 per share on revenue of $160.7 million — up 33% year-on-year. Despite pulling guidance for Q2, Chief Executive Jeff Green was optimistic: “We generated robust cash flow in the quarter and ended March with a strong cash position and balance sheet." Read the full report here.

Elsewhere, other MyWallSt stocks reported earnings:

Booking Holdings: The online travel site fell afoul of the sector-wide shutdown, reporting a Q1 loss of $699 million, or $17.01 a share. Chief Executive Glenn Fogle remained upbeat however, assuring investors that the company was reducing costs and has a strong balance sheet going forward.

GoPro: In what should come as no surprise to long-term investors in GoPro, the company posted a loss of $41 million for Q1, and a gross margin rate of 34.2% of sales. "We've taken decisive action to transition into a more efficient and profitable direct-to-consumer business," said GoPro CEO Nicholas Woodman.