Friday’s Headlines: Slack Falls Despite Excellent Q1 Results
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Duluth Holdings (DLTH) +20.7%
Nordstrom (JWN) +9.8%
Chuy’s Holdings (CHUY) +7.5%
Ford (F) +6.1%
Calavo Growers (CVGW) +5.4%
Moving Down ⬇️
Blackline (BL) -5.2%
Yext (YEXT) -5.4%
Zoom (ZM) -6.0%
Atlassian (TEAM) -6.2%
Smartsheet (SMAR) -23.0%
1. Shares in Slack (WORK) fell as much as 17% after hours following an earnings report that failed to deliver on the sort of blowout levels of other at-home stocks such as Zoom (ZM). Revenue grew 49% in the quarter to reach $201.7 million with an adjusted loss per share of $0.02, versus expectations of revenue of $188.1 million and a loss per share of $0.06. Slack did not disclose a new daily active user count but CEO Stewart Butterfield tweeted that the company had added a further 12,000 paying customers in the quarter, including an impressive new partnership with Amazon (AMZN) which will allow the two companies to take on Microsoft Teams (MSFT). Read the full earnings report here.
2. Luxury jeweler Tiffany & Co (TIF) has seen its share price drop more than 10% this week after it was revealed yesterday that Louis Vuitton is putting its acquisition on hold. The $16 billion takeover that was agreed upon last October has been thrown in the air due to the impact of the coronavirus and the likelihood of a recession to follow. This deal’s collapse could spell trouble for Tiffany, which remains up 24% year-on-year, largely due to the anticipation of being bought out. Tiffany’s will report its Q1 earnings before market open today. Read the full story here.
3. E-signature software company DocuSign (DOCU) saw its shares pop after hours following an easy beat on Q1 expectations. The company reported a net loss of $47.8 million, or $0.26 a share, compared with a loss of $45.7 million, or $0.27 a share, in the year-prior period, with revenue rising to $297 million. For the current quarter, DocuSign offered guidance on revenue of $316 million to $320 million, far surpassing the $303 million expected by analysts. Read the full story here.
Some other MyWallSt earnings from last night:
Shares in Duluth Holdings soared 20% following an earnings beat on Thursday, with the company reporting a 32% jump in sales to bring in revenue of $109 million. To deal with the COVID-19 downturn, the company said it had cut spending by 50% across the board.
Ski-resort specialists Vail reported better-than-expected earnings this week with revenue of $694.09 million and EPS of $3.74. Regardless, Vail shares have still lost about 15.8% since the beginning of the year versus the S&P 500's decline of 3.3%
Tech company Yext (YEXT) saw its shares fall on Thursday after it reported a Q1 loss of $29.2 million, or $0.25 per share adjusted. For the current quarter ending in August, Yext expects its results to range from a loss of $0.13 to $0.11 per share.
There is 1 stock in the MyWallSt app that will report earnings today:
Tiffany & Co