Earnings

September 7, 2022

Asana’s Private Placement Pop

The work management platform, Asana, popped about 20% today after announcing several positive developments. đź‘Ť

First, let’s start with its better-than-expected Q2 earnings report. Its adjusted earnings per share of $0.34 were five cents better than analyst estimates, and revenues of $134.9 million beat estimates of $127.2 million. Additionally, its revenue guidance for the next quarter was also above estimates.

Other news catching investors’ attention is the company completing a $350 million private placement sale to its CEO Dustin Moskovitz. The company will use the proceeds for working capital and general corporate purposes. But more importantly, when a company executive buys a significant amount of stock, investors tend to take that as a big vote of confidence.

Like other software stocks, $ASAN shares fell heavily over the last year but have found traction near $16 since May. Whether or not today’s rally is the start of a more significant turnaround remains to be seen. Though today’s news shows, at least one guy is betting big on it. đź‘€

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Speculation Heightens As Jumia Jumps

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Renewable Stocks Lack A Charge

The current market environment has not been kind to renewable energy stocks like electric vehicle makers or solar manufacturers. And that trend continued today with lackluster earnings results. đź‘Ž

Rivian kicked it off by saying that it’s laying off 10% of its workforce due to EV pricing pressures. Although it built and shipped more than double the vehicles it did in 2022, its 2023 losses still totaled more than $5.40 billion. 🪫

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Carvana Careens To New Highs

The return of “left for dead” stocks continues as investors look for opportunities in the market beyond the “magnificent seven.” 🔍

Carvana is an excellent example of this turnaround story in action, with the stock posting its first-ever annual profit and catching several analyst upgrades. đź’Ş

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February 14, 2024

Semis Continue To Tower Over Market

Semiconductors continue to dominate the market and thus dominate our headlines. With that said, today we’ve got a fresh stock breaking out and another setting up, so stick with us. 👇

First up is Tower Semiconductor, an Israeli chip manufacturer that reported results today. The company’s revenue fell 13% YoY to $351.7 million during the fourth quarter but topped the $350 million expected by analysts. Its earnings per share were down about 30% YoY to $0.48, but again, better than anticipated. 🔺

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$NET Makes The Bears Regret

Network provider Cloudflare is surging after the bell following better-than-expected results. đź“ť

The company’s adjusted earnings per share of $0.15 on $362.50 million in revenues topped estimates of $0.12 and $353.10 million. YoY revenue growth of 32% was consistent with its third quarter, while its GAAP net loss narrowed significantly from the year prior.

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The Battle Of The Clothing Boxes

The online personal styling business might’ve been a solid bet during the ZIRP era, but it has really taken a beating in the post-pandemic world. Today, we heard from Stitch Fix and ThredUp, battling for survival in the public markets. 📦

First up, Stitch Fix reported a $0.29 per share loss on $330.40 million in revenues. Both numbers missed estimates of a $0.22 loss and $330.88 million. Looking ahead, the company’s third-quarter revenue guidance of $300 to $310 million also missed expectations. đź”»

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