Friday’s Headlines: Amazon’s Putting Drones In Your Home
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Twilio (TWLO) +2.8%
Yext (YEXT) +2.6%
Tesla Motors (TSLA) +2.0%
Axos Financial (AX) +1.9%
Moving Down ⬇️
Zoom Communications (ZM) -7.1%
ShotSpotter (SSTI) -5.0%
Twitter (TWTR) -4.8%
Roku Inc. (ROKU) -4.8%
1. Amazon (AMZN) is launching a new Ring security camera that’s fixed on top of a drone and can fly around your house to detect intruders (or catch you coming out of the shower). Called the Ring Always Home Cam, this device was but one of many showcased at Amazon’s virtual event yesterday which also included new Fire TV sticks, upgraded Echo Dot home assistants, a video game streaming service called ‘Luna’, and much more. Shares in the e-commerce giant remain relatively flat after-hours following the event though reactions on social media have been mixed, so we’ll have to wait and see how fans feel about Amazon’s latest crop of tech. Get a full rundown on all of Amazon’s new products here.
2. Just across the Big Tech pond, trouble is brewing for Apple (AAPL) as the world’s most valuable company faces a coalition of companies which seek to take legal action against it. Leading the nonprofit pack are Spotify (SPOT), Match Group (MTCH), and “Fortnite” creator Epic Games, who are advocating for legal and regulatory action to challenge Apple’s App Store practices, specifically, the 30% cut it takes from in-app purchases. The group on Thursday also laid out 10 “App Store Principles” it plans to demand, including that “No developer should be required to pay unfair, unreasonable or discriminatory fees or revenue shares.” Check out the official website here.
3. Well, that was all a bit intense so let’s look at Costco’s (COST) explosive fiscal Q4 earnings which show explosive growth for the retailer. Costco beat expectations for Q4, and for the full fiscal year, its revenue grew 9.3% to $163.2 billion from $152.7 billion, while net income also grew 9.3% to $4 billion from $3.66 billion. Despite these knockout earnings, Costco shares fell 2% after-hours, though its stock remains up 19% year-to-date. Pandemic or not, people need their friendly neighborhood megachain. Get the official press release here.