EBay Loses Buyers And Sellers
Plus, Live Nation's good news.
Today is Thursday, February 24, 2022.
New to this newsletter? Sign up here.
EBay Loses Buyers And Sellers
Shares of eBay (Nasdaq: EBAY) fell 7.88% in after-hours trading on Wednesday after the e-commerce company posted mixed earnings.
Financials: The company reported earnings of $1.05 per share and revenue of $2.61 billion; both were better than expected.
Outlook: The problem with eBay was its guidance for the current quarter. The revenue was listed between $2.43 billion to $2.48 billion and earnings per share was listed between $1.01 t0 $1.05; both were below estimates.
People Leaving: Active sellers declined by 8% in the quarter and active buyers declined by 9%.
Quote: "By investing in our strategy to drive sustainable growth, we increased customer satisfaction, improved the seller and buyer experience, and returned value to our shareholders." - Jamie Iannone, CEO of eBay.
Final Thoughts: After online retail's growth in the pandemic, the sector has dropped back to Earth. Can the online retail industry stage a comeback?
Notable Earnings Today: Block (NYSE: SQ), Alibaba Group Holding (NYSE: BABA), Moderna (Nasdaq: MRNA), Coinbase Global (Nasdaq: COIN), Nikola (Nasdaq: NKLA), Etsy (Nasdaq: ETSY), Norwegian Cruise Line Holdings (NYSE: NCLH), Beyond Meat (Nasdaq: BYND), Wayfair (NYSE: W), Opendoor Technologies (Nasdaq: OPEN), DigitalOcean Holdings (NYSE: DOCN), Zscaler (Nasdaq: ZS), Six Flags Entertainment (NYSE: SIX), Rocket Cos. (NYSE: RKT), Exp World Holdings (NasdAQ: EXPI), Occidental Petroleum (NYSE: OXY), Planet Fitness (NYSE: PLNT), Intuit (Nasdaq: INTU), American Tower REIT (NYSE: AMT), Carvana (NYSE: CVNA), ACI Worldwide (Nasdaq: ACIW), Alamo Group (NYSE: ALG), Alarm.Com Holdings (Nasdaq: ALRM), American Electric Power (Nasdaq: AEP), Anheuser-Busch InBev (NYSE: BUD), Applied Optoelectronics (Nasdaq: AAOI), Autodesk (Nasdaq: ADSK), Axon Enterprise (Nasdaq: AXON), Carrols Restaurant Group (Nasdaq: TAST), Cheniere Energy (NYSEAMERICAN: LNG), CubeSmart (NYSE: CUBE), Dell Technologies (NYSE: DELL), Discovery (Nasdaq: DISCA), Elanco Animal Health (NYSE: ELAN), Eldorado Gold (NYSE: EGO), Energous (Nasdaq: WATT), Floor & Decor Holdings (NYSE: FND), Gaming & Leisure Properties (Nasdaq: GLPI), Gannett (NYSE: GCI), Genco Shipping & Trading (NYSE: GNK), Keurig Dr Pepper (Nasdaq: KDP), Main Street Capital (NYSE: MAIN), MasTec (NYSE: MTZ), Monster Beverage (Nasdaq: MNST), MP Materials (NYSE: MP), NetEase (Nasdaq: NTES), Newmont (NYSE: NEM), Nikola (Nasdaq: NKLA), NRG Energy (NYSE: NRG), Papa John's International (Nasdaq: PZZA), Ruth's Hospitality Group (Nasdaq: RUTH), SeaWorld Entertainment (NYSE: SEAS), Southwestern Energy (NYSE: SWN), Sprouts Farmers Market (Nasdaq: SFM), Stem (NYSE: STEM), Switch (NYSE: SWCH), Vale (NYSE: VALE), VMware (NYSE: VMW), Wayfair (NYSE: W), WideOpenWest (NYSE: WOW), Amedisys (Nasdaq: AMED).
Notable IPOs Today: Clean Earth Acquisitions Corp. Unit (Nasdaq: CLINU).
Notable Equity Crowdfunding Campaigns Ending Today: Dryvebox (Republic), Artillery Brewing (Honeycomb), Voyage Media (Wefunder), Cortex (Republic), StaySafe Concrete Products (Wefunder), Mariposa Technology (NetCapital).
Notable Economic Events Today: Jobless Claims (8:30 a.m. ET), GDP (8:30 a.m. ET), New Home Sales (10:00 a.m. ET), Crude Oil Inventories (11:00 a.m. ET).
Live Nation Sees Record Year in 2022
Shares of Live Nation (NYSE: LYV) jumped 5.38% in after-hours trading on Wednesday after the entertainment company posted positive earnings results.
Financials: Live Nation reported revenue of $2.71 billion, which was better than expected.
A Record: Ticket sales in the quarter hit a record for Live Nation. And thanks to a strong pipeline of upcoming events in 2022, the company said that it expects to deliver a record financial performance.
Final Thoughts: Live Nation has strong confirmed sales for events in the summer. Can the company continue this level of growth in future years?
SafeMoon Predictions from Experts
Cryptocurrency SafeMoon has had a wild year since its inception in March 2021. Where do experts see the price going in the future?
Bullish: DigitalCoinPrice expects the price of SafeCoin to go up to $0.00311 in 2025 and $0.00665 in 2030.
Bearish: WalletInvestor expects SafeMoon to take a negative turn this year, from $0.00000145 USD to $0.000000133 USD.
Final Thoughts: It’s been a volatile month for SafeMoon. Proponents expect another big surge this year in the price.
Trends to Watch
Life Gives You Bad Earnings: Lemonade stock drops 20% after disappointing outlook, Q4 earnings fall short of consensus (Seeking Alpha)
Conflict: Fuel prices spike amid Ukraine crisis, with some markets hovering near $5 a gallon (The Washington Post)
Tough Ride: New Peloton CEO says he’s not focused on raising prices, sees ‘very bright future’ ahead (CNBC)
Growing: Bitcoin Trends Upward as Markets Calm Despite Ukraine Tensions (CoinDesk)
Driving: Jeep Maker Is No Tesla, and That’s Suddenly OK (The Wall Street Journal)
Thank you for reading!
Forward to a friend and tell them to sign up here.
Want more investing tips? Listen to the podcast.
Questions or comments? Hit reply to reach out.