Wednesday’s Headlines: Zoom Revenue Jumps 169%

Wednesday’s Headlines: Zoom Revenue Jumps 169%

Here were the biggest movers in the MyWallSt shortlist yesterday:

Moving Up ⬆️

Baozun (BZUN) +10.7%

Planet Fitness (PLNT) +9.5%

Huazhu (HTHT) +7.4%

Nordstrom (JWN) +7.2%

Peloton (PTON) +6.9%

Moving Down ⬇️

Duluth Trading (DLTH) -3.3%

2U (TWOU) -5.1%

Shotspotter (SSTI) -5.9%

Evolent Health (EVH) -6.7%

Tiffany (TIF) -8.9%

1. Wall Street’s newest darling, Zoom (ZM), saw its stock drop after hours despite reporting 169% revenue growth in Q1 2020. Earnings per share came in at $0.20 on revenue of $328.2 million, giving the company space to significantly increase its fiscal guidance to between $1.21 and $1.29 billion. A rise in popularity due to the COVID-19 pandemic has seen Zoom’s stock soar more than 200% YTD, and it currently boasts upwards of 300 million daily active users. Read the complete earnings report here.

2. Chinese e-commerce company Baozun reported mixed first-quarter results early Tuesday but expects a bump in business in Q2, sending shares up 10.7%. The company reported adjusted earnings of $0.06 per share on revenue of $215.2 million versus analyst estimates of a break-even quarter on revenue of $220.7 million. Baozun has benefited from a return to normality in China as e-commerce and production lines resume, but its share price remains down 9% YTD. Get the full story here.

3. Grab your tightest tank-top and get your game face on, because Planet Fitness locations all around the country are reopening, sending the gym stocks share price up 9.5% on Tuesday. Planet Fitness said in a filing that 800 gyms across 30 states were operating as of June 1 with another 200 expected to be open by the middle of this month. The leading fitness stock in the world has seen its share price rise gradually over the past month but remains 16% off of its February highs. Read the complete story here.


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