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Amazon.com, Inc. (AMZN) - free report >>
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NKE Beats Earnings, Spotify's Video Push, & AMZN's Big Pharma Purchase
On today’s episode of the Zacks Friday Finish Line, Editor Maddy Johnson is joined by Ben Rains, an Associate Stock Strategist here at Zacks, to take on this week’s biggest stories, including Nike’s (NKE - Free Report) latest quarterly earnings results, Spotify’s (SPOT - Free Report) media ambitions, and Amazon’s (AMZN - Free Report) latest assault on the healthcare industry.
It was a full week of headlines in the business world, so Maddy and Ben started the show with a recap of Nike’s fourth quarter fiscal 2018 results.
Nike posted earningsof 69 cents per share, beating the Zacks Consensus of 64 cents. Revenues came in at $9.8 billion, climbing 13% year-over-year and topping our consensus estimate as well. Additionally, the sportswear giant’s North American sales popped 3% to hit $3.88 billion.
Next, the hosts talked about music streaming giant Spotify, and what it’s doing to try and find new revenue streams. With a new Chief Content Officer in tow, the company hopes to expand its video offerings, which now consist of music videos and behind-the-scenes type shows. Shares of Spotify are up about 16% since its recent IPO, and Maddy and Ben looked at how this new media push could impact the stock.
Finally, Maddy and Ben wrapped up by discussing Amazon’s latest push into healthcare. The online retailer just acquired PillPack, a full-service pharmacy, for $1 billion in an all-cash deal. As a result, shares of CVS (CVS - Free Report) , Walgreens (WBA - Free Report) , and Rite Aid all tumbled, though Walgreens’ CEO said his company “is not particularly worried” about Amazon’s move. Make sure to check out the show to hear more!
As a reminder, if you feel that we missed something, or if you want us to cover a different story, shoot us an email at podcast@zacks.com. Make sure to check out all of our other audio content at zacks.com/podcasts, and remember to subscribe and leave us a rating on Apple Podcasts.
Wall Street’s Next Amazon
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