Investors Cut The Charter Cord

Charter Communications is back on our radars again for all the wrong reasons. The stock tumbled double-digits after the company reported a surprise loss in internet subscribers. 🫨

During the fourth quarter, the company saw total residential and small and medium-business internet customers decline by 61,000. Analysts were anticipating an increase of 6,000! Additionally, residential video customers fell more than expected, at 248,000 vs. 200,000. 📊

CEO Christopher Winfrey said, “Internet growth in our existing footprint has been challenging, driven by admittedly more persistent competition from fixed wireless.”

While the market wasn’t expecting significant growth from the broadband market, the company must show it can stop losing customers. A stable, boring business can be very profitable. But nothing annoys analysts and investors more than unpredictability.

Until the Spectrum Networks’ parent company can stabilize its customer base, the stock will likely remain under pressure. Or at least that’s the current view from the Stocktwits community, which is registering an “extremely bearish” reading in the stock following its 17% decline. 📉

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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. 💪

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Plug Power Recharges Amid Market Rally

It was another day of records for the U.S. stock market as more and more stocks got snatched up in the bullish animal spirits. Let’s continue this week’s trend of pointing out the ragingly bullish action traders have been dealing with. 👇

Below is a chart of the S&P 500 showing prices rising for 16 of the last 18 months, posting a 25% rally since the end of October. It was also announced after the bell that Super Micro Computer and Deckers Outdoor will join the index, replacing Whirpool and Zions Bancorp. 📈

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BJ’s Beats Costco For The Day

Today’s action shows that BJ’s may have a branding problem in the retail investing community. Despite the company’s results topping expectations today, sentiment readings from are community are still weaker than you’d expect. 🤔 

BJ’s Wholesale Club revenues grew 8.70% YoY to $5.357 billion, with adjusted earnings of $1.11 per share. While earnings topped expectations, revenue was slightly below, with executives citing an uncertain macroeconomic environment as the primary driver.

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Bumble’s Path Of Least Rizz-istance

Dating apps are a tricky business in the post-pandemic world, with investors continuing to swipe left on Bumble after its latest earnings report. 📰

The company behind dating apps Bumble, Badoo, and Fruitz said a slowdown in user spending caused it to miss first-quart revenue expectations. As a result, new CEO Lidiane Jones’ first move is to cut 350 roles, costing $20 to $25 million in one-time charges over the first two quarters. ✂️

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