Monday’s Headlines: Brick-and-Mortar’s Black Friday

Monday’s Headlines: Brick-and-Mortar’s Black Friday

Here were the biggest movers in the MyWallSt shortlist on Friday:

Moving Up ⬆️

Etsy (ETSY) +10.7%

Lemonade (LMND) +10.1%

Stitch Fix (SFIX) +7.7%

Cloudflare (NET) +6.8%

Zoom Communications (ZM) +6.3%

Moving Down ⬇️

Retail Opportunity Investments Corp (ROIC) -3.1%

ShotSpotter (SSTI) -3.0%

Axos Financial (AX) -2.5%

Nordstrom (JWN) -2.5%

Chuy's (CHUY) -1.9%

1. According to preliminary data, traffic at brick-and-mortar stores on Black Friday fell by 52.1% compared with last year as Americans abandoned their pursuit of mall shopping and queuing for hours in exchange for shopping online. Though no confirmed individual company data has been released yet, it is expected that the likes of Etsy (ETSY) and Amazon (AMZN) will report record sales figures, while the likes of Nordstrom (JWN) and Retail Opportunity Investments Corp (ROIC) have seen their stock fall on pessimistic forecasts. Spending online on Black Friday in the U.S. this year surged 21.6% to hit a new record, according to data from Adobe Analytics, as consumers rang up $9 billion worth of purchases on the web the day after Thanksgiving. Read the full report here

2. Stock futures fell in early morning trading on Monday as the market looks set to shed some of the historically strong gains seen so far in November. The Dow Jones Industrial Average (DIA), S&P 500 (VOO), and Nasdaq Composite (QQQ) are all trading in the red at time of writing, potentially due to reports that the Trump administration is weighing up its options of blacklisting Chinese leading chipmaker SMIC, as well as national offshore oil and gas producer CNOOC. Despite this, it has been a very strong month for the markets as we arrive in December tomorrow, with the Dow rising 12.9%, the S&P up 11.3%, and the tech-heavy Nasdaq soaring 11.9% so far in November. Read more about what to expect on the market this week here

3. Zoom Communications’ (ZM) stock soared 6.3% during Friday’s half-day session as investor anticipation grows ahead of its Q3 earnings report at 2:30 PM PST today. For the third quarter, ended in October, Zoom is expected to show a revenue growth of 317% to $694 million, after seeing 355% expansion in the prior period and a ‘disappointing’ 169% in the quarter ended April. Positive COVID-19 vaccine news did see a widespread sell-off earlier in the month, but investors seem unperturbed, considering its stock is up almost seven-fold in 2020 alone. There is no denying that growth will slow in 2021 though, as it will be hard to live up to investor expectations after such a historic rally. You can catch Zoom’s earnings report later here

Get this week’s full earnings calendar here. 

JamieJamie

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