Tuesday’s Headlines: The House Of Mouse Is Back
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Nordstrom (JWN) +6.5%
Walt Disney Co. (DIS) +6.3%
The Trade Desk (TTD) +3.8%
Ulta Beauty (ULTA) +3.7%
Moving Down ⬇️
Sea Limited (SE) -10.3%
StoneCo (STNE) -9.6%
Wix (WIX) -9.4%
PagerDuty (PD) -9.4%
Yext (YEXT) -9.3%
1. News that California’s Magic Kingdom is making its long-awaited reopening sent Walt Disney Co. (DIS) shares up over 6% on Monday. After a year of remaining closed, the amusement park can reopen on April 1st with between 15% to 35% capacity depending on the risk of the virus in the community. The rally added over $21 billion to Disney’s market cap, bringing it to $366.5 billion, a much needed boost after coronavirus-related closures cost its park division $2.6 billion in lost operating income in the December quarter. Disney’s movie business is also slowly getting back to normal, with 45% of theatres in North America operating last weekend. See more on the story here.
2. Peloton Interactive (PTON) is going to the 'Land Down Under'. On Monday, the fitness company said it will launch in Australia, its first entry into the Asia-Pacific market, and will start by selling its regular Bike, luxury Bike+, and the digital app in the second half of 2021. The little bike that takes you nowhere will be available to buy online in the country but Peloton also plans to open retail stores in Melbourne and Sydney. Peloton, being one of the most highly demanded products during the pandemic, struggled with shipping delays and supply shortages but says the company is now investing millions to boost production. Read the story here.
3. Yesterday, PayPal (PYPL) announced that it is acquiring cryptocurrency security firm Curv as part of its push into digital tokens. The deal is worth roughly $200 million and is expected to close in the first half of the year, with PayPal hoping it will help “accelerate and expand” its support of cryptocurrencies and digital assets. Curv, which provides digital asset security technology, will become part of PayPal’s recently created business unit that’s focused on blockchain, crypto, and digital currencies, and will help PayPal provide cryptocurrency services to large organizations instead of single users. See more on the story here.
1 earning from yesterday:
Stitch Fix (SFIX)
Shares in the online styling company plunged 21% in after hours trading yesterday as shipping delays and lower customer spend due to the pandemic ate into sales. Stitch Fix posted a narrower-than-expected loss per share of $0.20 but missed revenue estimates, lowered its sales forecast for 2021, and stated active client spend was down 7% year-over-year. Read the entire press release here.
There is 1 company on the MyWallSt shortlist that will report earnings today:
Get this week’s full earnings calendar here.