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August 10, 2020
Notable earnings reports today include Novavax (NVAX), IAC/InteractiveCorp (IAC), Occidental Petroleum (OXY), J2Global (JCOM) and ZoomInfo Technologies (ZI). These stocks may move after-hours today and tomorrow.
Stock market source: Yahoo Finance
August 6, 2020
At 12:14 PM, ET time today ROKU stock price is at 151.67-13.75 (-8.31%).
“Roku Tops 2Q Estimates But Cautions About Ad Outlook.
Roku recorded better-than-expected 2Q revenues of $356 million, compared with Street estimates of $315 million. The company’s loss of $0.35 per share beat analysts’ expectations for a loss of $0.50 per share. However, the TV streaming giant remains uncertain about its advertising outlook for the second half of the year due to the negative coronavirus impact on the industry.
Roku’s (ROKU) CFO Steve Louden stated, “We’re still growing significantly, but it is slower growth than we would’ve otherwise expected, given the macro environment.” He added that “There might be some short-term volatility with the ad market, but overall this environment is very good for Roku. It is clear that the long-term trend to streaming has being accelerated by Covid-19.” The company warned in a letter to shareholders that its total TV ad spending won’t return to pre-pandemic levels until 2021.”
Stock market data: https://finance.yahoo.com/news/roku-tops-2q-estimates-cautions-103320852.html
August 5, 2020
“Nikola stock falls 12% after pandemic-related supply-chain disruptions.Electric-vehicle maker says its long-term path ‘unaffected’ by COVID-19 pandemic
Nikola Corp. shares fell more than 12% in premarket trading Wednesday after the electric-vehicle maker reported a second-quarter loss that was wider than Wall Street expected and said that the COVID-19 pandemic disrupted its supply chain.
Nikola NKLA, -11.32% said Tuesday afternoon that it lost $86.6 million, or 33 cents a share, in the quarter, compared with a loss of $16.8 million, or 6 cents a share, in the year-ago period. Adjusted for one-time items, Nikola lost 16 cents a share in the quarter.
Analysts polled by FactSet had expected Nikola to post a GAAP loss of 13 cents a share on no revenue.”
Stock market data: https://www.marketwatch.com/story/nikola-stock-falls-7-after-electric-vehicle-makers-wider-q2-loss-2020-08-04?siteid=yhoof2&yptr=yahoo
At 11:48 AM today, ET time shares of Nikola Corporation (NKLA) were at 34.53-4.31 (-11.10%). As of 11:48 AM EDT. Market open.
Stock market data: Yahoo Finance
Beyond Meat (BYND) stock price at the close on August 4, 2020, was 142.25+7.93 (+5.90%). Before the stock market open trading session today the stock was down more than 6% at 132.79 -9.46 (-6.65%), before hours: 7:33 AM EDT. What were the Q2 2020 earnings for BYND stock?
“Beyond Meat’s (BYND) earnings release on Tuesday will do its best job at swatting away a pack of bears on Wall Street that have hit the stock lately.
The plant-based meat’s founder and CEO Ethan Brown tells Yahoo Finance the quarter reflects strong momentum in retail stores as it has moved to make its burgers more affordable and expand distribution during the COVID-19 pandemic. Beyond’s U.S. retail sales surged 194.9% from a year ago and by 166.7% overseas. Food service sales in the U.S. and overseas fell 60.7% and 56.5%, respectively, from last year.
Here’s how Beyond Meat performed compared to Wall Street estimates in the second quarter. The results below reflect adjusted numbers. Beyond says it had $5.9 million in one-time costs related to repackaging products to meet retail demand related to COVID-19. Including those costs, Beyond reported a net loss of 16 cents a share in the quarter.
Net Sales: $113.3 million versus estimates for $99 million
Adjusted Gross Margin: 34.9% versus estimates for 33.61%
Adjusted Loss per Share: 2 cents versus estimates for 2 cents
Full Year Guidance: None provided; Beyond Meat suspected guidance back in”
Stock market data: https://finance.yahoo.com/news/beyond-meat-earnings-q2-200505751.html
Source: Stockscharts
