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The Zacks Analyst Blog Highlights Starbucks, DoorDash, Expedia, Block and PayPal.
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For Immediate Release
Chicago, IL – November 4, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Starbucks (SBUX - Free Report) , DoorDash (DASH - Free Report) , Expedia (EXPE - Free Report) , Block (SQ - Free Report) and PayPal (PYPL - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Big Late-Market Moves on Q3 Reporting Numbers
Thursday's trading session was a tad bipolar, closing on a big skid downward, though off session lows struck early this morning across the board, with a surge toward the green in between. Along with digesting the Fed's slightly more dovish monetary policy statement and Fed Chair Powell's hawkish talk-down directly following, and the upcoming midterm elections next week (results of which, given recent trends, we might not get on the night-of), there are plenty of questions currently left unanswered. We also got another huge slab of Q3 earnings reports out after the closing bell.
The Dow slipped another -146 points, -0.46%, while the S&P 500 saw 6 of 112 sectors lower and the index was down -1.06% on the day. The Nasdaq continues to suffer its worst trading week since January, down almost -7% and -1.73% today, and the Russell 2000 dipped another -0.53% on the session. Investors appear in search of new equilibrium, which it may not get until sometime after midterm elections are resolved.
Starbucks reported +84 cents per share which outpaced the Zacks consensus by 8 cents, on $8.41 billion in sales which was slightly lower than the $8.43 billion expected. Global same-store sales easily outperformed expectations, +7% versus the estimate +4.2%, as International revenues were better than expected. China alone surprised to the upside, -16% in the quarter instead of the -25% anticipated. Shares were up +3% in late trading.
DoorDash performed even better in the after-market, +14% following its Q3 report: while its bottom line missed expectations, coming in at -77 per share versus -60 cents estimated, revenues of $1.70 billion were well ahead of the $1.64 billion analysts were looking for. Orders came in ahead of expected, and Q4 guidance — on both Marketplace GOV and EBITDA, two important metrics in the delivery business — was increased on both. The post-market gains follow +5.5% in the regular trading session.
Expedia swung to a negative initially on the news from its Q3 report, which posted earnings of $4.05 per share versus $3.89 in the Zacks consensus on record-high revenues of $3.62 billion in the quarter, outpacing the $3.55 billion expected. Gross bookings grew +28% in the quarter, but this was below the +36% reported by rival Booking.com Wednesday. Still, a solid quarter for the company which carried a Zacks Rank #2 (Buy) into the report's release.
Block shares blossomed +12% in late trading on its Q3 results after the closing bell Thursday. Earnings of 42 cents per share were well ahead of the 23 cents anticipated, on $4.52 billion in sales which took out the expected $4.48 billion. The company formerly known as "Square" reached 49 million monthly transactional units in Cash App. Shares are way down year-to-date, but late trading is helping buoy the FinTech staple, even as Gross Payment Volume was lower than expected in the quarter.
PayPal is down -6% following its Q3 report yesterday afternoon, even as the company outperformed expectations on both top and bottom lines for the quarter: earnings of $1.08 per share cleared the 95-cent estimate, while $6.85 billion moderately bettered the $6.82 billion in the Zacks consensus. However, not only was Total Payment Volume in the quarter, but so was Q4 revenue guidance. Shares are already -60% year to date.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Starbucks, DoorDash, Expedia, Block and PayPal.
For Immediate Release
Chicago, IL – November 4, 2022 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Starbucks (SBUX - Free Report) , DoorDash (DASH - Free Report) , Expedia (EXPE - Free Report) , Block (SQ - Free Report) and PayPal (PYPL - Free Report) .
Here are highlights from Thursday’s Analyst Blog:
Big Late-Market Moves on Q3 Reporting Numbers
Thursday's trading session was a tad bipolar, closing on a big skid downward, though off session lows struck early this morning across the board, with a surge toward the green in between. Along with digesting the Fed's slightly more dovish monetary policy statement and Fed Chair Powell's hawkish talk-down directly following, and the upcoming midterm elections next week (results of which, given recent trends, we might not get on the night-of), there are plenty of questions currently left unanswered. We also got another huge slab of Q3 earnings reports out after the closing bell.
The Dow slipped another -146 points, -0.46%, while the S&P 500 saw 6 of 112 sectors lower and the index was down -1.06% on the day. The Nasdaq continues to suffer its worst trading week since January, down almost -7% and -1.73% today, and the Russell 2000 dipped another -0.53% on the session. Investors appear in search of new equilibrium, which it may not get until sometime after midterm elections are resolved.
Starbucks reported +84 cents per share which outpaced the Zacks consensus by 8 cents, on $8.41 billion in sales which was slightly lower than the $8.43 billion expected. Global same-store sales easily outperformed expectations, +7% versus the estimate +4.2%, as International revenues were better than expected. China alone surprised to the upside, -16% in the quarter instead of the -25% anticipated. Shares were up +3% in late trading.
DoorDash performed even better in the after-market, +14% following its Q3 report: while its bottom line missed expectations, coming in at -77 per share versus -60 cents estimated, revenues of $1.70 billion were well ahead of the $1.64 billion analysts were looking for. Orders came in ahead of expected, and Q4 guidance — on both Marketplace GOV and EBITDA, two important metrics in the delivery business — was increased on both. The post-market gains follow +5.5% in the regular trading session.
Expedia swung to a negative initially on the news from its Q3 report, which posted earnings of $4.05 per share versus $3.89 in the Zacks consensus on record-high revenues of $3.62 billion in the quarter, outpacing the $3.55 billion expected. Gross bookings grew +28% in the quarter, but this was below the +36% reported by rival Booking.com Wednesday. Still, a solid quarter for the company which carried a Zacks Rank #2 (Buy) into the report's release.
Block shares blossomed +12% in late trading on its Q3 results after the closing bell Thursday. Earnings of 42 cents per share were well ahead of the 23 cents anticipated, on $4.52 billion in sales which took out the expected $4.48 billion. The company formerly known as "Square" reached 49 million monthly transactional units in Cash App. Shares are way down year-to-date, but late trading is helping buoy the FinTech staple, even as Gross Payment Volume was lower than expected in the quarter.
PayPal is down -6% following its Q3 report yesterday afternoon, even as the company outperformed expectations on both top and bottom lines for the quarter: earnings of $1.08 per share cleared the 95-cent estimate, while $6.85 billion moderately bettered the $6.82 billion in the Zacks consensus. However, not only was Total Payment Volume in the quarter, but so was Q4 revenue guidance. Shares are already -60% year to date.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.