Friday’s Headlines: Why Is Roku Up 12%?
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Roku Inc. (ROKU) +11.9%
Fitbit (FIT) +7.7%
Amazon (AMZN) +3.3%
Peloton Interactive (PTON) +3.2%
DocuSign (DOCU) +2.9%
Moving Down ⬇️
Nordstrom (JWN) -4.9%
Eventbrite (EB) -5.1%
Duluth Trading (DLTH) -5.7%
Chuy's (CHUY) -5.9%
TrueCar (TRUE) -7.8%
1. Stock futures fell in early Friday trading following a mixed session in which coronavirus concerns pushed investors further into tech shares. The Dow Jones (DIA), S&P 500 (VOO), and Nasdaq (QQQ) were all in the red this morning despite gains from Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), and Netflix (NFLX) on Thursday. This divergence between tech and the rest of the market came as coronavirus-related hospitalizations hit a record in Florida, while Califonia’s numbers surge as well. Read more here.
2. Shares in Roku (ROKU) soared almost 12% on Thursday, helping the brand-agnostic streaming service to recoup its total losses from the March sell-off. The rise comes after analysts upgraded the stock’s target and anticipate 35% revenue growth over the next 3 years. With a surge in coronavirus cases and the likely reclosure of cinema chains across the U.S., Roku will be a benefactor as more people flock to at-home streaming services. Read the full story here.
3. Alphabet’s (GOOG) acquisition of Fitbit (FIT) could be in jeopardy as the EU looks certain to open a full-scale investigation into the purchase. The European governing body stated that unless Google pledges not to use Fitbit data for other Google products, it will attempt to put a stop to the $2.1 billion deal. Fitbit investors seemed more than happy with this news though it seems, as the beleaguered fitness watch-maker saw sare jump 7.7% in trading on Thursday as the company erased its losses YTD. Read the complete report here.