Tuesday’s Headlines: Facebook Reeling Over Employee Protest

Tuesday’s Headlines: Facebook Reeling Over Employee Protest

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Nautilus (NLS) +19.1%

Zoom Video (ZM) +13.7%

TripAdvisor (TRIP) +13.3%

Duluth Trading (DLTH) +11.9%

Baozun (BZUN) +10.8%

Moving Down ⬇️

Trip.com (TCOM) -2.5%

Etsy (ETSY) -3.0%

Workday (WDAY) -3.0%

Pure Storage (PSTG) -3.6%

Evolent Health (EVH) -23.2%

1. Despite as many as 600 of Facebook’s (FB) employees staging a “virtual walkout”, shares popped more than 3% on Monday. These employees expressed disappointment in the decision by Facebook’s leaders to leave up a Thursday post from President Trump which said that “when the looting starts, the shooting starts.” Many employees took to Twitter (TWTR) to announce their protest, a platform that has come under severe scrutiny from Trump after it began to fact-check and censor some of the President’s tweets last week. Read the full story here.

2. Shares of TripAdvisor were surging over 10% Monday morning as prospects for a reopened economy would have people traveling again, both in the U.S. and overseas. It's not apparent that people will begin booking vacations right away, but increased analyst optimism as well as early signs of consumer confidence, especially in Europe, is causing the stock to gain. Having lost nearly 70% of its value since last September during its "darkest days," the online travel site is now considered undervalued by many. Get the complete report here.

3. Evolent Health saw its share price fall 23% on Monday after the healthcare company's flagship partner, Passport Health Plan, saw its Medicaid deal with the state of Kentucky cut for 2021. Passport has informed Evolent that it is going to appeal the decision which will directly affect more than 300,000 Kentucky-based beneficiaries. Evolent will continue to provide services to Passport through the end of 2020, but it will be a sore blow to the company whose stock has fallen 36% year-on-year. Read more here.

Earnings today

There are 2 stocks in the MyWallSt app that will report earnings today:

  • Baozun

  • Slack

  • Zoom