Poshmark  shares fell more than -12% in after-hours trading Wednesday , even after the social commerce marketplace reported a narrower-than-expected first-quarter loss per share on 42% higher revenue.

Adjusted for one-time items, Poshmark incurred a loss of -33 cents a share, compared to the -37 cents loss a share anticipated by analysts polled by FactSet.

Revenue increased to $81 million from the year-ago quarter’s $57.1 million.The analysts surveyed by FactSet forecast around $81 million.

 

 

Electric-vehicle-battery maker QuantumScape Corp.  posted first-quarter results that fell short of analysts’ expectations.The loss was -6-cent loss in the year-earlier quarter.

In a letter to investors, QuantumScape said it met a contractual milestone with Volkswagen AG and delivered battery cells for further testing at the car maker, leading to an additional $100 million investment from Volkswagen into QuantumScape in April.

QuantumScape expects to enter 2022 with greater than $1.3 billion in liquidity, reflecting a net increase of more than $300M compared to its liquidity entering the year.

FuboTV  reported better-than-expected revenue in the first quarter, on the back of solid subscriber growth.

The streaming service company’s first-quarter revenue grew +135% year-over-year to $119.7 million, beating analysts’ expectations of $103.6 million."

 

 

On Thursday, Shake Shack posted first-quarter revenue that fell short of analyst forecasts, leading to some analysts to lower their share-price targets. 

The fast casual restaurant chain’s revenue for the quarter came in at $155.3 million, versus $161.6 million expected by analysts’ (according to a Bloomberg consensus estimate).However, same-store sales growth of +5.7% handily topped the -1.74% expected by analysts.

Adjusted loss for the quarter was -1 cent vs. -$0.09 anticipated by analysts.

Analysts at Cowen cut its price target on Shake Shack shares to $93 from $97, while affirming its market-perform rating. 

Wedbush analysts lowered its target to $114 from $122 and maintained its rating at neutral.

 

 

Expedia Group’s shares climbed on Friday, as it posted first quarter results better than expected by analysts.

The online travel booking company’s adjusted loss came in at -$2.02 a share, compared to a loss of -$2.30 a share anticipated by analysts polled by Factset.But the figure beat that $1.11 billion that analysts surveyed by FactSet had expected.

“Travel remains a study in contrasts – with strong vacation rental growth and demand for domestic travel continuing to drive us forward, while demand for international and business travel and conventional lodging remain challenged,” said Expedia Chief Executive Peter Kern.

Sports-betting platform DraftKings  reported first quarter results that was better than analysts’ expectations, on the back of strong revenue growth.

DraftKings’ adjusted loss for the quarter came in at - 36 cents a share, narrower than the  -43 cents loss a share anticipated by analysts polled by FactSet.

The company’s revenue surged +252.6% from the year-ago quarter to $312.3 million, exceeding analysts' estimates of $236.2 million.

The number of monthly unique players was 1.5 million as of its first quarter, vs. 1.31 million expected by analysts (according to FactSet).It was boosted by increased engagement with its iGaming and mobile sports betting product offerings, as well as cross-selling, the company said.

Looking ahead, DraftKings boosted its fiscal 2021 revenue guidance from a range of $900 million to $1 billion to a range of $1.05 billion to $1.15 billion.

Roku posted first-quarter earnings, even as analysts expected a loss.

The streaming company’s  first quarter profit came in at 54 cents per share, compared to the loss of -13 cents per share that analysts were expecting.

Revenue surged +79% year-over-year to $574.2 million, vs. $491.6 million expected by analysts.

The company said it added 2.4 million active accounts in the quarter to touch 53.6 million, compared to 54.2 million expected by analysts polled by FactSet.

For the second quarter, Roku projects total net revenue of $615 million vs. analyst expectations of $550 million, according to FactSet.

"We are pleased with our start to 2021 and believe the broad secular trends combined with the investments we are making will drive long term growth.Different rates of recovery worldwide from COVID-19, combined with persistent supply chain constraints, make it difficult to predict an economic return to normalcy," said CEO Anthony Wood. 

Square   shares climbed in after-market trading Thursday, following  after the company posted earnings beat for the first quarter.

The digital payments company’s adjusted earnings per share came in at 41 cents, handily topping the 16 cents expected in a Refinitiv survey of analysts.

Revenue soared almost four times in the quarter to $5.057 billion,  compared to $3.36 billion expected by Refinitiv.

Gross profit climbed +79% year over year to $964 million in the quarter that ended Mar.Cash App gross profit surged +171% from the year-ago quarter to $495 million.

Square generated $3.5 billion in bitcoin revenue, up 11 times year over year.

ODP  shares climbed on  first-quarter earnings beat and plans to spin off its distribution business into a separate publicly traded company.

For the first quarter, adjusted earnings came in at $1.21 a share, exceeding the FactSet consensus estimate of 72 cents a share. 

Revenue rose +13% from the year-ago quarter to $2.36 billion, but was below the FactSet estimate of $2.41 billion.

Office Depot owner ODP Corp said it would spin off its distribution platform, which schools and offices use to buy supplies, into a separate company.The separated company would include ODP's business solutions division and Canadian office supplies retailer Grand & Toy.

The new company will also own ODP's regional office supply distribution businesses, it said.

 

 

On Tuesday, American Express Global Business Travel,  a joint venture 50% owned by American Express Co., announced that it planned to   acquire Egencia, the corporate-travel business of online travel-services company Expedia .

Under the proposed deal, Expedia will become a shareholder in and will enter into a long-term commercial agreement with Global Business Travel.

“In Egencia, we would welcome the industry's leading digital business travel platform," said Paul Abbott, the chief executive of GBT.

According to Expedia,  the supply agreement reached between the two companies will "meaningfully further Expedia Group's goal of powering businesses across the entire eco-system." 

Shares of pet food retailer Chewy Inc. shares got   a buy rating from Guggenheim analysts who initiated coverage of the stock.

Guggenheim analysts set a $95 price target on the shares.The analysts cited a fast-growing market, a leading industry position, significant new and existing customer opportunities and other tailwinds for Chewy.

"As of today, although CHWY only participates in ~70% of the combined pet products and services market, the recent launch of telehealth tele-triage service (connect with a vet) in October 2020 and compounding medication (customized medicines) in November 2020 showcases management’s commitment to driving increased participation in the services-related needs of pet parents," analyst Steven Forbes wrote.  According to Forbes, Chewy customers have shown "an extreme level of customer loyalty".

Chewy’s  active customer base has grown to 19.2 million in 2020 from 1.5 million in 2015, implying 66% compound annual growth.

They also slashed price target to $170 a share from $240.  Analyst Chris Carey called Clorox shares "dead money, at best, with downside."  

According to Wells Fargo analysts, Clorox sales in the professional and international segments ( "new growth drivers") missed estimates – something that makes it hard to argue for 'underappreciated' upside, as indicated by the analysts.

 

MicroVision   shares fell more than -20% in premarket trading on Friday, after the laser-scanning technology company posted a steeper-than-expected quarterly loss.The company incurred a loss of -4 cents a share in the first quarter, compared to a loss of -3 cents a share anticipated by analysts poled by FactSet.

Sales fell to $500,000 from $1.5 million a year ago.

Sports betting company DraftKings Inc.  shares got a buy rating at Guggenheim Securities that initiated coverage of the sports betting company with a $75 price target.

Guggenheim estimates suggest that the online sports betting and iGaming opportunity in North America will range between $7.6 billion and $10.6 billion when fully mature, with EBITDA margins of 30% or more.Doug Ducey (R.), as well as regulatory clearance.

Analyst Curry Baker said that  in addition to legalization and the tailwinds from new states/markets, there are several other competitive advantages driving the firm’s positive outlook for DraftKings.

Caterpillar Inc.  reported its first quarter earnings that surpassed analysts’ expectations, on the back of  solid construction sales.

The construction equipment company’s adjusted earnings for the three months ending in March increased +48% from the year-ago quarter to $2.87 per share, well ahead of the Street consensus forecast of $1.94 per share.

Revenues climbed +12% year-over-year to $11.9 billion, which also exceeded analysts' estimates of $11.1 billion.

Construction sales rose +27% year-over-year to $5.46 billion in the quarter.Resource, energy and transportation sales increased +6.5% to $2.216 billion.

There was  a -1% decrease in rolling three-month sales in North America. Nevertheless, Latin American sales for the rolling three-month period rose +54%, while world machines sales were up +13%.

Online healthcare company Teladoc Health’s   shares fell Thursday as several analysts lowered their share-price targets – following lower-than-expected quarterly earnings.

Teladoc reported a loss of -$1.31 a share, steeper than the -40 cents loss expected by analysts.It is also wider than the year-ago quarter’s  -40 cents per share.

Evercore ISI’s Elizabeth Anderson slashed her price target to $185 from $195 and kept her in-line rating.

Apple got rating upgrades from several analysts, following the iPhone maker’s blowout earnings results for its second quarter.

On Wednesday, Apple reported earnings that crushed analysts’ expectations, and also announced a $90 billion boost to its stock buyback program.

Goldman Sachs analyst Rod Hall boosted rating on Apple shares to neutral from sell, while hiking his price target to $130 from $83."  Hall noted that iPad demand is so solid that Apple says it will leave $3 billion to $4 billion of revenue on the table in fiscal Q3 ending June.

JPMorgan analyst Samik Chatterjee raised his price target on Apple shares to $165 from $150.

Facebook  shares rose +5% after-hours trading on Wednesday, as the social media behemoth beat first-quarter earnings expectations.

The company’s net income came in at $3.30 per share, compared with $2.37 per share expected by analysts polled by Refinitiv.  Earnings were $1.71 per share in the year-ago quarter.

Revenue surged +48% year-over-year to $26.17 billion in the quarter, vs. $23.67 billion expected by analysts.

Daily active users (DAUs) of 1.88 billion was close to the 1.89 billion forecast (based on FactSet data).Average revenue per user (ARPU) came in at $9.27 vs. $8.40 forecast by FactSet.

Advertising revenue was $25.44 billion, soaring +46% year-over-year, on the back of a +30% year-over-year increase in the average price per ad and a +12% rise in the number of ads delivered.

 

Apple crushed its  second quarter earnings expectations, on the back of double-digit growth in every single one of its product categories-- for the second quarter in a row.

The iPhone maker’s earnings for the quarter came in at $1.40, handily beating the $0.99 expected by analysts polled by Refinitiv.However, Apple CFO Luca Maestri said that the company expects June quarter revenue to rise by double digits year-over-year, although it faces supply challenges due to the worldwide chip shortage.

 

This compares to year-ago revenues of $205.55 million.

However, the company’s  weak second-quarter guidance led to its shares falling. It expects sales to come in between $300 million and $320 million during the second quarter, compared to analysts’ projections of $320.7 million (based on FactSet data).

“Looking to Q2, our shipment volumes will be constrained by semiconductor component availability,” Enphase President and CEO Badrinarayanan Kothandaraman said during the company’s earnings call.

“Although we are increasing the capacity of solar microinverters every quarter and the demand is increasing every quarter, the supply is unable to keep up with demand because of semiconductor constraints, component constraints,” Kothandaraman added.