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Why Is Wayfair (W) Stock Soaring Today
Shares of online home goods retailer Wayfair (NYSE: W) jumped 18.6% in the morning session after the company reported first quarter results that beat analysts' revenue and adjusted EBITDA expectations. Q2 guidance, which was given on the earnings call, was also comforting as it was lin line to slightly above expectations. Specifically, Wayfair expects Q2 revenue to be flat to slightly up year on year compared to Q2 last year, in line with expectations. Adjusted EBITDA margin in Q2 is expected to be in the mid-single digit percentage range, which leaves some room for the company to exceed current expectations. On the other hand, its revenue growth slowed. Overall, this was a solid quarter for Wayfair.
Herbalife (HLF) Shares Skyrocket, What You Need To Know
Shares of health and wellness products company Herbalife (NYSE:HLF) jumped 14.5% in the pre-market session after the company reported first quarter results which blew past analysts' EPS expectations.
Qualcomm (QCOM) Stock Trades Up, Here Is Why
Shares of wireless chipmaker Qualcomm (NASDAQ:QCOM) jumped 10% in the morning session after the company reported first quarter results that exceeded analysts' EPS expectations. Next quarter's revenue guidance came in higher than Wall Street's estimates. On the other hand, its inventory levels increased. Overall, this quarter's results seemed fairly positive and shareholders should feel optimistic.
Why Freshworks (FRSH) Stock Is Down Today
Shares of business software provider Freshworks (NASDAQ: FRSH) fell 28.9% in the pre-market session after the company reported first-quarter results and provided full-year revenue guidance below expectations. The full year sales outlook was lowered to a range of $695.0 - $705.0m (vs. previous expectation of $703.5 - $711.5m). Additionally, it reported smaller net additions due to increased small-to-medium-sized business churn. The company also announced a leadership change, with Founder and Chief Executive Officer Girish Mathrubootham transitioning to the role of Executive Chairman. Dennis Woodside will become Chief Executive Officer and President. Overall, this was a weaker quarter for the company, given the poor guidance.
Why Appian (APPN) Shares Are Falling Today
Shares of low code software development platform provider Appian (Nasdaq: APPN) fell 23.1% in the morning session after the company reported first-quarter results with revenue guidance for the next quarter, missing analysts' expectations, while full-year revenue guidance was roughly in line. While revenue beat slightly, billings (often analyzed in addition to revenue because it's cash in the door rather than recognized revenue dictated by accounting rules) missed Wall Street's estimates. Overall, this was a weaker quarter for Appian.
Why Qorvo (QRVO) Stock Is Nosediving
Shares of communications chips maker Qorvo (NASDAQ: QRVO) fell 15.2% in the morning session after the company reported first-quarter results and provided revenue guidance for the next quarter, which missed analysts' expectations. In addition, its inventory levels increased. On the other hand, Qorvo posted a strong improvement in gross margin. Its EPS outperformed Wall Street's estimates. While the sales outlook was underwhelming, it is worth acknowledging the return to positive growth recorded during the quarter, attributed to strength in the High-performance analog segment. The Connectivity & Sensors also contributed to the rebound. Overall, this was a mixed but weaker quarter.
Why Paycom (PAYC) Stock Is Nosediving
Shares of online payroll and human resource software provider Paycom (NYSE:PAYC) fell 14% in the morning session after the company reported first-quarter results, with revenue guidance for the next quarter falling below analysts' expectations. In addition, its gross margin decreased. On the other hand, it was good to see Paycom beat analysts' billings expectations this quarter. Overall, this was a mixed quarter for Paycom.
Why eBay (EBAY) Stock Is Trading Lower Today
Shares of online marketplace eBay (NASDAQ:EBAY) fell 9.5% in the pre-market session after the company reported first quarter results. However, revenue growth was quite weak. Notably, revenue in the US fell below expectations, partly driven by unfavourable weather conditions. Adding to the bad news is the fact that both the company's revenue and EPS guidance for next quarter missed analysts' expectations. The company called out a challenging macro environment with FX volatility remaining a headwind. On the other hand, the results were fine, with revenue and EPS exceeding expectations. Overall, it was a challenging quarter for eBay.
Why Zillow (ZG) Shares Are Falling Today
Shares of online real estate marketplace Zillow (NASDAQ:ZG) fell 9.4% in the pre-market session after the company reported first quarter results. Its EPS missed, and the number of website/mobile app visits fell short of Wall Street's projections. Additionally, revenue guidance for next quarter was below expectations, which is further driving weakness in the stock. On the other hand, Zillow exceeded analysts' revenue and EBITDA expectations this quarter. Overall, the results could have been better.
Why Rush Street Interactive (RSI) Stock Is Up Today
Shares of online casino and sports betting company Rush Street Interactive (NYSE:RSI) jumped 21.2% in the morning session after the company reported a 'beat and raise' quarter. Rush Street Interactive beat analysts' revenue, adjusted EBITDA, and EPS expectations. The company lifted full year guidance, which is above expectations for key line items. Zooming out, we think this was a great quarter that shareholders will appreciate.