Friday’s Headlines: Major Indexes Feel The Burn
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Bill.com (BILL) +10.1%
Smartsheet (SMAR) +9.5%
Square (SQ) +8.6%
Booking Holdings (BKNG) +7.8%
Match Group (MTCH) +7.6%
Moving Down ⬇️
iRobot (IRBT) -24.3%
Ericsson (ERIC) -9.1%
Nordstrom (JWN) -7.3%
Stitch Fix (SFIX) -6.1%
Hain Celestial (HAIN) -6.0%
1. U.S. stock futures moved lower in early morning trading today as Wall Street’s volatile week continued. The Dow Jones (DIA), S&P 500 (VOO), and Nasdaq (QQQ) futures are all down at time of writing, having closed yesterday in the green. Yesterday, several digital brokers took steps to curb the deliberate buying of heavily shorted stocks. This move prompted outrage from individual investors and even some members of Congress, while brokers defended the decision to halt trades by explaining that they were simply acting upon the advice given by their clearing houses. Check out the full story here.
2. Retail giant Walmart has enlisted the help of ad tech company The Trade Desk (TTD) as it eyes big growth in the advertisement game. Walmart is renaming its ads division “Walmart Connect,” as it attempts to grow the segment by more than ten times in the next five years to compete with rival Amazon (AMZN). Walmart said that the company’s websites have “massive scale” for advertisers as they attract 160 million store or website visits every month. The Trade Desk has technology that helps brands reach targeted audiences, with two companies now creating a “demand-side platform” that will use Walmart's shoppers data to place targeted ads across the web. See the full story here.
3. Shares in Mastercard (MA) jumped 4% yesterday after it posted better-than-expected earnings for Q4. The payments processor has recovered from its Q3 slump and has reported adjusted earnings per share (EPS) of $1.64 on revenue of $4.1 billion, down from $1.96 on $4.41 billion year-over-year (YoY). Mastercard saw substantial YoY revenue and margin declines in Q4, but analysts see signs of improvement and believe that the future for this wide-moat franchise remains bright as U.S. spending continues to improve as vaccines are rolled out. Read the full press release here.
Some more earnings from last night
Atlassian smashed Q4 expectations by adding 11,617 new customers in the quarter, up 17.9% YoY. The company reported EPS of $0.37 while revenue climbed 23% to $501 million. Co-founder Scott Farquhar said: “Our Q2 results reflect steady progress towards our long-term goals as we crossed $500 million in quarterly revenue for the first time, up 23% year-over-year, and drove subscription revenue growth of 36% year-over-year.” Read the full report here.
Axos Financial (AX)
The bank holding company beat expectations after posting EPS of $0.94 on revenue of $162.8 million, up 35.8% YoY. President of Axos Financial, Greg Garrabrants, stated: “Net interest income and non-interest income increased by more than 20% year-over-year as a result of solid loan growth and mortgage banking fees, as well as strong net interest margin expansion.” See the full press release here.
1 more company from the MyWallSt shortlist will report earnings today
Get this week’s full earnings calendar here.