Tuesday’s Headlines: Twilio Investors are on Cloud Nine
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
ShotSpotter (SSTI) +2.1%
Etsy (ETSY) +1.4%
Zoom Communications (ZM) +1.2%
Shopify (SHOP) +1.2%
Spotify (SPOT) +0.5%
Moving Down ⬇️
Nautilus (NLS) -9.6%
Hasbro (HAS) -9.3%
Nordstrom (JWN) -7.6%
BlackLine (BL) -7.2%
Workday (WDAY) -6.2%
1. Twilio’s (TWLO) forecasts were definitely not cloudy as its Q3 earnings report smashed Wall Street’s predictions on Monday, with revenue up 52% year-over-year to $447.9 million. The cloud service provider reported a net loss of $0.79 compared to $0.04 expected, affected by its costly Q3 acquisition of Segment for $3.2 billion. Twilio’s CEO Jeff Lawson said "great digital engagement is becoming more critical to differentiate the customer experience’’ for its 208,000 active customer accounts, up from 172,000 in Q3 of 2019. Read the full report here.
2. Chegg’s (CHGG) Q3 earnings report topped Wall Street’s estimates yesterday, yet its share price fell almost 4% late on Monday due to a broader market sell-off triggered by increasing coronavirus cases. Following a year when its share price has almost doubled, the digital education company reported earnings per share (EPS) of $0.17, versus $0.12 expected. Its revenue soared to $154 million, up 64% year-over-year. CEO Dan Rosensweig gave strong guidance for the coming year "the momentum we are experiencing globally give us the confidence to raise our guidance again for 2020 and provide our initial outlook for 2021". Read the full report here.
3. In an unlikely turn of events, investors in Hasbro (HAS) were left devastated yesterday as its stock crashed 10%, even after beating its Q3 earnings estimates. The ‘Monopoly’ creator smashed its sales predictions, reaching $1.8 billion as game purchases soared, yet Q3 was not a total success as overall sales declined 4% year-over-year, sending shares down almost 4%. Revenue suffered from its acquisition of eOne entertainment, as well as the absence of any film release which the company usually makes toys for. Its only growth was in the U.S and Canada in gaming and franchises, with only single digits sales gains. Read the full story here.
There are 4 companies in the MyWallSt shortlist that will report earnings today. Get this week’s full calendar here.