Tuesday’s Headlines: Snap Inc Is Getting Its Own Back
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Nordstrom (JWN) +10.1%
Duluth Trading (DLTH) +7.2%
Eventbrite (EB) +6.9%
Align Technology (ALGN) +6.7%
Tesla Motors (TSLA) +6.6%
Moving Down ⬇️
Baozun (BZUN) -7.8%
Nautilus (NLS) -7.2%
Wix (WIX) -3.1%
Teladoc (TDOC) -3.0%
Apple (AAPL) -3.0%
1. Snap Inc (SNAP) is sick and tired of being pushed around by copycats, so now it’s giving them a taste of its own medicine with the launch of ‘Spotlight’; a copycat feature to take on TikTok and Instagram Reels. Spotlight will show users the top snaps that have been submitted for consideration by the app’s more than 249 million daily users in a feed that they can swipe or tap through, and will play in a continuous loop until the user swipes to the next one. Jumping 2.2% off the back of this news to $45.26 per share, Snap has brought its total gains year-to-date to almost 170% following a couple of disastrous years of decline, including a December 2018 low of $4.99 per share. Read Snap’s official release here.
2. Despite the e-commerce solutions provider beating on earnings, a marginal miss on revenue of $269.4 million in its third-quarter was enough to see Baozun (BZUN) shares fall 7.8% on Monday. Earnings-per-share came in at $0.23 versus $0.21 expected, revenue grew 21% year-over-year (YoY), while non-GAAP income jumped 47% YoY. Mr. Vincent Qiu, Chairman and Chief Executive Officer of Baozun, commented on the rise in popularity of e-commerce: ‘’In navigating the post-COVID recovery in China, e-commerce, particularly brand e-commerce and digitalization, is becoming a more significant part of everyday life.‘’ Read MyWallst’s complete report on Baozun’s Q3 earnings here.
3. Pandemic or no pandemic, people need their teeth to look good, so Align Technology (ALGN) held its first-ever virtual Investor Day which reported strong business momentum in October and November. In an event focused primarily on Align’s digital platform, CEO Joe Hogan said: “Align’s global Invisalign brand is vastly under-penetrated into the existing orthodontic market which we now estimate to be around 15 million case starts annually (+3M vs. prior estimate), as a result of establishing and increasing our direct presence in several new markets...” Align also revealed plans for significant investments in sales, marketing, innovation, and manufacturing capacity to continue to drive momentum and penetrate the huge market opportunity; a strategy that has seen its stock grow more than 600% in the past 5 years. See the official press release for the event here.
There are 3 companies on the MyWallSt shortlist that will report earnings today:
Get this week’s full calendar here.