Virgin Galactic founder Richard Branson sold about $300 million of shares, in order to support his other businesses hurt by the pandemic. According to a regulatory filing, Branson sold off about 10.5 million shares, or 4%, of the company stock. That leaves him with an 18% stake. The Virgin Group continues to be the largest single shareholder in Virgin Galactic. The proceeds from the sale will...
eBay posted its second quarter earnings that surpassed analysts' expectations, even as revenue missed estimates. The e-commerce company’s earnings came in at 99 cents a share, compared to the 96 cents expected by analysts polled by Investing.com. Revenue of $2.67 billion fell short of analysts expectation of $3 billion. Gross merchandise volume was $22.1 billion in the quarter, down -7% on an...
Advanced Micro Devices shares got designated as a “top catchup candidate” by Bank of America. Bank of America analyst Vivek Arya has a buy rating and $135 price target on the semiconductor company’s shares. The analyst noted that AMD has the strongest upward earnings-per-share revisions among chipmakers and “a clear path” to doubling EPS to about $5 per share. According to Arya, AMD shares...
Upstart Holdings shares got a rating boost at Barclays. Barclays' analyst Ramsey El-Assal upgraded shares of the AI lending platform to overweight from equal weight. The analyst also hiked his price target on the stock to $230 from $130. According to El-Assal, "continued impressive performance," leads to Barclays’ expectations of improvements in conversion rate, top-of-funnel acquisition, and...
SoFi Technologies posted a loss for the second quarter, even as revenue doubled. The online personal finance company incurred a net loss of -48 cents a share, vs. the prior year quarter’s loss of -3 cents a share. Revenue reached $231.27 million in the quarter from $114.95 million last year. SoFi’s total membership rose +113% year-over-year to 2.6 million. Total products increased +123% from...
Walt Disney posted third quarter earnings that surpassed analysts’ expectations, on the back of solid subscriber figure for Disney+ and consumer attendance amid reopenings for its parks and experiences category. The entertainment behemoth’s earnings came in at 80 cents per share, handily beating the 55 cents expected in a Refinitiv survey of analysts. Revenue rose +44% from the year-ago...
Shares of ContextLogic fell, after the company reported a wider than expected net loss for the second-quarter. The parent of the Wish mobile e-commerce platform incurred a loss of -18 cents a share in the quarter, compared with a loss of a dime a share in the year-earlier quarter. Analysts polled by FactSet expected a GAAP net loss of -13 cents a share. Revenue fell to $656 million in the...
Total average revenue per paying user rose to $20.88, compared to $18.12.
The company incurred a loss of -6 cents a share in the second quarter, compared with break-even per share a year ago.Analysts expected a break-even per share figure for the latest quarter.
For full year 2021, Bumble is expecting revenue in the range of $752 million to $762 million, higher than consensus forecast of $736.46 million.
AppLovin's shares climbed in after-hours on Wednesday, following second quarter revenue that surpassed analysts’ expectations.
The mobile technology company’s second-quarter revenue surged +123% year-over-year to $669 million, compared to analysts’ expectations $641 million.It incurred a loss - 10 cents a share in the same period a year ago.
AppLovin offers software for mobile developers to market, monetize, and publish their apps through its mobile advertising, marketing and analytics.
Robinhood announced that it will purchase fintech firm Say Technologies for $140 million, in an all-cash deal.
Say has a communication platform that crowdsources questions from retail investors and lets them interact with companies they invest in during annual meetings.
"Like Robinhood, Say was built on the belief that everyone should have the same access to the financial markets as Wall Street insiders," Robinhood said in a blogpost."We share a common goal of eliminating the barriers that keep people from participating in our financial system.
Shares of SmileDirectClub dropped on Tuesday, followed by second quarter results that came in lower than expected by analysts.
The teledentistry company’s second-quarter net loss of -14 cents a share was wider than the -12 cents a share anticipated by analysts surveyed by FactSet.FactSet's poll reveals analysts’ expectation of $783.4 million.
Sunrun posted a wider-than-expected second-quarter net loss even as revenue surged more than 100% year-over-year.
The provider of solar panels reported a quarterly loss of -20 cents a share, wider than the -11 cents a share in the year-ago quarter.FactSet had a consensus expectation-8 cents a share and - 13 cents a share for adjusted loss.
Revenue rose to $401.2 million, more than double the year-ago quarter’s $181.3 million.
Sunrun named Mary Powell as its next CEO.
Analysts polled by FactSet expected adjusted earnings of 24 cents a share.
Revenue surged +70% year-over-year to $1.31 billion in the quarter, surpassing analysts’ estimate of $1.28 billion.Zillow’s revenue from the Internet, Media & Technology segment came in at $476.1 million (vs. $280 million a year ago, and compared to analysts’ expected $467 million); revenue from for its core Premier Agent offering for professionals was $348.8 million (vs. $192 million a year-ago, and compared to analysts’ expected $345 million).
The company’s revenue from its Homes segment was $777.1 million (vs. $454.3 million in the same quarter last year, and $751 million expected by analysts polled by Factset).
Lyft reported a narrower second-quarter loss, compared to a year-ago.
The ride-hailing company’s quarterly net loss narrowed to -76 cents a share from -$1.41 a share in the year-earlier quarter.
Revenue more than doubled from the year-ago period to reach $765 million in the quarter.As of June-end, Lyft had 17.1 million active riders, vs. 8.7 million a year earlier.
Last month, Lyft announced a collaboration with Argo AI and Ford to launch at least 1,000 self-driving vehicles in various US cities over the next five years, beginning with Miami and Austin.
Revenue, however, beat expectations.
The online dating service conglomerate, posted second-quarter earnings of 46 cents a share, compared to the 49 cents a share expected by analysts polled by FactSet.The figure, however, is higher than 36 cents a share during COVID-19 pandemic-induced depression in the year-ago quarter.
Revenue climbed +27% year-over-year to $707.76 million, also exceeding analysts’ forecast of $693.5 million.
Chief Executive Shar Dubey continues to be optimistic about momentum while entering the second half of the year.
Micron Technology Inc. will pay a dividend of 10 cents a share, beginning October.
The semiconductor company’s first dividend payout is scheduled for Oct. 18 for shareholders of record as of the close of business on Oct. 1.
“Micron’s remarkable transformation over the last several years has put the company in an outstanding position, with technology leadership, a robust product portfolio, enhanced profitability, and a strong, investment grade balance sheet,” Chief Executive Sanjay Mehrotra said in a statement.According to Mehrotra, a common stock dividend indicates confidence in Micron's future and a “commitment to creating compelling value for shareholders.”
The company’s most recent quarterly report reveals that it has bought back $4 billion in stock and retired 90 million shares at an average price of $42 per share in a program that began in May 2018.
Shares of the company were at $56.65 as of Monday close.
Citron indicated that "simplicity” has become the key to gaining share in the small and medium sized business market." According to Citron, while Amazon Web Services sells a product that is expensive and “very difficult to use”, DigitalOcean, like Shopify has created an “easy solution” for SMBs.
SolarEdge Technologies, Inc. posted its second quarter earnings that surpassed analysts’ expectations.
The solar power equipment maker’s non-GAAP earnings came in at $1.28 per share, compared to analysts’ estimate of 89 cents a share (based on FactSet survey).Earnings in the year-ago quarter were 70 cents a share.
Revenue increased to $480.1 million in the quarter vs. year-ago quarter’s $331.9 million.
CEO Zvi Lando mentioned “record revenues” in both solar and non-solar businesses, and continued solid demand in various geographies and across the different segments.
SolarEdge expects third-quarter revenues in the range of $520 million to $540 million.
Under the agreement, Zoom will pay $85 million and improve its privacy practices.
In April 2020, a class action lawsuit filed in the U.S. District Court for the Northern District of California alleged that Zoom violated user privacy by sharing personal data with Facebook, LinkedIn and Google .( Zoombombing is a practice of hackers displaying inappropriate content such as pornography, during Zoom meetings).
Under the terms of the lawsuit settlement, subscribers would be entitled to 15% refunds on their subscriptions or $25, whichever is the bigger amount.
The telecom giant also reported a record-high figure for new broadband subscribers for the quarter.
The company’s adjusted earnings for the quarter came in at 84 cents, compared to the 67 cents expected by analysts polled by Refinitiv.
Revenue of $28.55 billion also beat the $27.18 billion expected by analysts per the Refinitiv survey.
Comcast garnered 354,000 net new high-speed internet customers, vs. 270,000 net adds expected in a StreetAccount survey.The net adds were its highest ever for a second-quarter performance, according to the company.
Revenue from Comcast’s cable revenue business rose +10.9% year-over-year to $16 billion.
Media business increased +25.7% to $5.1 billion.