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Financialbuzz.com: 'Roller Coaster' Earnings Recap Week Ending November 9th, 2018
Friday, November 09, 2018

FinancialBuzz.com News Commentary

NEW YORK, November 9, 2018 /PRNewswire/ --

U.S. stocks had a strong week, lifted by the positive midterm election results and stronger than expected earnings. The midterm election results allowed Democrats to take control of the House, dividing the Congress. Shortly after, U.S. Attorney General Jeff Sessions resigned at the request of President Donald Trump. According to MarketWatch, the election results undercut hopes for further corporate tax cuts, but analysts said a potential brake on further fiscal stimulus was viewed as a positive for equities and bonds. Following Jeff Sessions' resignation, cannabis stocks surged intraday on Wednesday. Tilray led the charge, as its shares rose by over 30% before the closing bell. The Alternative Harvest ETF rose by 7%, while the Horizons Marijuana Life Science ETF jumped by 8%. Stronger earnings were reported by Booking Holdings. Etsy and Twilio also continued to drive the market early on in the week. The Dow Jones surged nearly over 1,000 points, or 3.8% since Monday morning. Meanwhile, the S&P 500 Index rose by 3.38% and the Nasdaq Composite jumped by 3.1%. Booking Holdings Inc. (NASDAQ: BKNG), Etsy, Inc. (NASDAQ: ETSY), Twilio Inc. (NYSE: TWLO), Roku, Inc. (NASDAQ: ROKU), TripAdvisor, Inc. (NASDAQ: TRIP)

According to MarketWatch, Dec Mullarkey, Managing Director, Investment Strategy, Sun Life Investment Management, wrote in a research note: "As President Trump plans his 2020 reelection campaign, a gridlocked Congress is unlikely to deliver any notable wins to help expand his agenda. Therefore, Trump will likely focus on his broad executive powers to affect trade and national security. The obvious targets are China on trade and Iran with its nuclear program. While both issues demand detailed strategic solutions, Trump's transactional style so far has been to ramp up pressure ahead of negotiations."

Booking Holdings Inc. (NASDAQ: BKNG) reported its third quarter financial results after the market closed on Monday. The Company topped estimates in revenues, but missed earnings. Despite the lower than expected earnings results, Booking Holdings' shares jumped by 7%, breaking the USD 2,000 threshold. For the third quarter, Booking Holdings reported revenues of USD 4.84 Billion, increasing 11% year over year and topping analysts' estimates of USD 4.8 Billion. The Company reported earnings per share of USD 37.78, increasing 7% year over year, but missing estimates of USD 38.21.

Etsy Inc. (NASDAQ: ETSY) reported its third quarter financial results, topping its estimates. Shares rose by 10% after the release. For the third quarter, Etsy reported revenue of USD 150.36 Million, increasing 41.3% year over year and topping estimates of USD 149.9 Million. The Company reported an earnings per share of USD 21 cents, topping estimates of USD 7 cents. Etsy reported a decline in its net income, as it fell by 22.9% year over year. Despite the decline, Etsy still saw its active sellers increase by 8% and active buyers increase by 17.2% year over year.

Twilio Inc. (NYSE: TWLO) reported its third quarter financial results after market close on Tuesday. Twilio beat estimates as well as providing a revised guidance, sending shares surging over 30%. For the third quarter, Twilio reported revenue of USD 168.9 Million, increasing 68% year over year and topping estimates of USD 150.4 Million. The Company reported earnings per share of USD 7 cents, compared to an earnings per share loss of USD 8 cents last year, and surpassing estimates of USD 2 cents per share. During the conference call, Twilio's Chief Financial Officer Lee Kirkpatrick said that the Company will not disclose revenue figures, excluding Uber.

Roku, Inc. (NASDAQ: ROKU) reported its third quarter financial results after the market closed on Wednesday. Despite topping estimates in both revenue and earnings, shares plunged by over 18%. For the quarter, Roku reported revenue of USD 173.4 Million, topping estimates of USD 169.1 Million. The Company reported an earnings per share loss of 9 cents, lower than estimates of a loss of USD 12 cents. Active accounts outpaced estimates, reporting 23.8 million. Although active accounts were stronger than expected, average revenue per user missed estimates, coming in at USD 17.34 per user while estimates called for USD 17.44.

TripAdvisor, Inc. (NASDAQ: TRIP) reported its third quarter financial results after the closing bell on Wednesday and surpassed analysts' estimates, sending shares surging by 15%. TripAdvisor reported revenue of USD 458 Million, increasing 4% year over year but missing estimates of USD 469.1 Million. The Company reported earnings per share of USD 0.72 cents, increasing 100% year over year and crushing estimates of USD 0.24 cents. The stronger-than-expected results were driven its Non-Hotel revenue, which increased by 20% year over year.

For our video recap on the Midterm Election, please visit: https://www.youtube.com/watch?v=EMRIjU2bk30&t=1s

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About FinancialBuzz.com  

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com.

        

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