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.”
The US stock market started the first day of the last month for 2019 with steep losses. There was a strong sell-0ff for stocks and all major US stock market indices closed lower. This is the summary for US stock market at close on Monday December 2, 2019:
S&P 500: 3,113.87,-27.11(-0.86%)
Dow 30: 27,783.04,-268.37(-0.96%)
Russell 2000: 1,607.58,-16.92(-1.04%)
Stocks biggest gainers
BridgeBio Pharma, Inc. (BBIO) was among stocks biggest gainers closing at 31.14+2.14 (+7.38%).
Stocks biggest losers
Roku, Inc. (ROKU) was among stocks biggest losers closing at 136.07-24.30 (-15.15%).
Stock investing | Stock trading | Most active stocks
Ford Motor Company (F) was among most active stocks closing at 9.01-0.05 (-0.55%).
U.S. Sectors & Industries Performance
Consumer Staples was the best performing sector +0.26%, Real Estate was the worst performing sector -1.75%.
Stock earnings calendar
Notable earnings today are Salesforce.com (CRM) and Workday (WDAY).
Stock market update
All data about stocks , stock investing, stock trading is taken from Yahoo Finance, Fidelity and stockcharts.com.
This report is written by Stavros Georgiadis, CFA Equity Research Analyst, Investment Strategist.
On Wednesday, the Federal Open Market Committee cut rates by 25 basis points for the second consecutive time, citing increased signs of weakness in geopolitical conditions abroad. The target federal funds rate is now in a range of 2% to 2.25%. “This is a time of difficult judgments and, as you can see, disparate perspectives,” Powell said. “I really do think that’s nothing but healthy.”
The main financial and economic event was the Fed decision to cut rates by 25 basis points. The US stock market reacted with volatility as what happened was stocks to fall and then rebound after the Fed decision made public and the press conference by Fed Chairman Jerome Powell. This is the summary for the US stock market at close on Wednesday September 18 2019:
S&P 500: 3,006.73,+1.03(+0.03%)
Dow 30: 27,147.08,+36.28(+0.13%)
Russell 2000: 1,568.34,-9.95(-0.63%)
Cielo S.A. (CIOXY) was the stock with biggest gains closing at $2.1100+$0.1800 (+9.33%).
Roku, Inc. (ROKU) was the stock with biggest losses closing at $129.88-$20.64 (-13.71%).
Stock investing – Most active stocks
Ambev S.A. (ABEV) was among the most active stocksclosing at $4.6800-$0.0900 (-1.89%).
U.S. Sectors & Industries Performance
Utilities was the best performing sector +0.47%, Energy was the worst performing sector -0.42%.
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