Today is Wednesday, May 4, 2022.
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Airbnb’s First Time: Positive EBITDA
Shares of Airbnb (Nasdaq: ABNB) jumped 5.45% in after-hours trading on Tuesday after the online lodging marketplace posted positive earnings.
Financials: Airbnb posted a loss of 3 cents per share and revenue of $1.5 billion; both were better than expected.
All the Firsts: This was the first positive adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) in company history, with Airbnb getting $229 million in adjusted EBITDA during the quarter. The number of nights and experiences booked hit 102.1 million, marking the first time the company ever exceeded 100 million in that category.
Background: Like other travel companies, Airbnb struggled during the onset of the pandemic. But surging travel demand, especially in North America, has resulted in a comeback for Airbnb.
Risks: Airbnb warns that there are risks for the current quarter, including “additional COVID outbreaks, any impact to travel from the conflict in Ukraine, and consumer price sensitivity.”
Final Thoughts: Airbnb’s stock is down 18% in the past six months. Is it time to buy the dip?
Notable Earnings Today: Moderna (Nasdaq: MRNA), Marathon Oil (NYSE: MRO), CVS Health (NYSE: CVS), Uber Technologies (NYSE: UBER), Barrick Gold (NYSE: GOLD), Etsy (Nasdaq: ETSY), Generac Holdings (NYSE: GNRC), Twilio (NYSE: TWLO), Cheniere Energy (NYSEAMERICAN: LNG), Energy Transfer (NYSE: ET). Regeneron Pharmaceuticals (Nasdaq: REGN), Marriott International (Nasdaq: MAR), Skillz (NYSE: SKLZ), Murphy Oil (NYSE: MUR), CF Industries Holdings (NYSE: CF), eXp World Holdings (Nasdaq: EXPI), AmerisourceBergen (NYSE: ABC), Fortinet (Nasdaq: FTNT), Adtran (Nasdaq: ADTN), Albemarle (NYSE: ALB), Allegheny Technologies (NYSE: ATI), Allstate (NYSE: ALL), Amarin (Nasdaq: AMRN), Atmos Energy (NYSE: ATO), Bio-Techne (Nasdaq: TECH), Booking Holdings (Nasdaq: BKNG), BorgWarner (NYSE: BWA), Brinker International (NYSE: EAT), Civitas Resources (NYSE: CIVI), Clean Harbors (NYSe: CLH), Clovis Oncology (Nasdaq: CLVS), CoreCivic (NYSE: CXW), Corteva (NYSE: CTVA), Dine Brands Global (NYSE: DINE), eBay (Nasdaq: EBAY), El Pollo Loco Holdings (Nasdaq: LOCO), Emerson Electric (NYSE: EMR), Fastly (NYSE: FSLY), Ferrari (NYSE: RACE), Fisker (NYSE: FSR), Fresh Del Monte Produce (NYSE: FDP), Gildan Activewear (NYSE: GIL), Global Blood Therapeutics (Nasdaq: GBT), GoDaddy (NYSE: GDDY), GXO Logistics (NYSE: GXO), Host Hotels & Resorts (Nasdaq: HST), Hostess Brands (Nasdaq: TWNK), Ingersoll Rand (NYSE: IR), iRobot (Nasdaq: IRBT), Jazz Pharmaceuticals (Nasdaq: JAZZ), Johnson Controls International (NYSE: JCI), LL Flooring Holdings (NYSE: LL), Lumentum Holdings (Nasdaq: LITE), MetLife (NYSE: MET), MGIC Investment (NYSE: MTG), Neurocrine Biosciences (Nasdaq: NBIX), Novo Nordisk (NYSE: NVO), Nu Skin Enterprises (NYSE: NUS), Oasis Petroleum (Nasdaq: OAS), PDC Energy (Nasdaq: PDCE), Physicians Realty Trust (NYSE: DOC), Pioneer Natural Resources (NYSE: PXD), Qorvo (Nasdaq: QRVO), Qualys (Nasdaq: QLYS), Rayonier (NYSE: RYN), Realty Income (NYSE: O), Regeneron Pharmaceuticals (Nasdaq: REGN), Sinclair Broadcast Group (Nasdaq: SBGI), Sprouts Farmers Market (Nasdaq: SFM), Starwood Property Trust (NYSE: STWD), STORE Capital (NYSE: STOR), Sturm Ruger (NYSE: RGR), Sunoco (NYSE: SUN), SunRun (Nasdaq: RUN), TripAdvisor (Nasdaq: TRIP), Turtle Beach (Nasdaq: HEAR), United Therapeutics (Nasdaq: UTHR), Vulcan Materials (NYSE: VMC), Wingstop (Nasdaq: WING), Yum! Brands (NYSE: YUM).
Notable IPOs Today: SPAC II Acquisition Corp. (Nasdaq: ASCBU).
Notable Equity Crowdfunding Campaigns Ending Today: Hentze Farm Hospitality (SMBX).
Notable Economic Events Today: ADP Nonfarm Employment (8:15 a.m. ET), Imports/Exports (8:30 a.m. ET), Services / Markit Composite PMI (9:45 a.m. ET), ISM Non-Manufacturing PMI (10:00 a.m. ET), Crude Oil Inventories (10:30 a.m. ET), Fed Interest Rate Decision (2:00 p.m. ET).
Lyft Loses Riders, Again
Shares of Lyft (Nasdaq: LYFT) fell 25.78% in after-hours trading on Tuesday after the ride-hailing company posted mixed earnings.
Financials: Lyft reported a net loss of 57 cents per share, which was below estimates. The company’s revenue of $875 million was better than expected.
Drop: The number of active riders dropped from 18.7 million to 17.8 million in the quarter. It was the second quarter in a row with a decline.
Final Thoughts: Lyft's stock is down 37% in the last six months.
Cryptocurrency Fear and Greed Index Performance
How has the cryptocurrency Fear and Greed Index, a daily metric on the current emotional state of digital currency, changed over time?
Data: Tracked by Alternative.me, the data showed extreme greed in the crypto market during the end of 2020. Since then, the data reflects more fear than greed in the market.
Final Thoughts: The Fear and Greed Index is updated daily, so keep an eye on it.
Trends to Watch
Growing: AMD sales jump 71%, shrugging off concerns about PC slowdown (CNBC)
New Boss: Match names Zynga President Bernard Kim as CEO, replacing Shar Dubey (TechCrunch)
Questionable Hedge: Stocks and Bonds Are Falling in Lockstep at Pace Unseen in Decades (The Wall Street Journal)
Retrospective: On the Ten Year Anniversary of the JOBS Act A Look-Back at the Development of Crowdfunding (JD Supra)
Hiring Spree: SEC nearly doubles crypto enforcement unit, citing fraud risk in booming market (The Verge)
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