Today is Wednesday, February 23, 2022.
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Virgin Galactic's Cash Power
Shares of Virgin Galactic (Nasdaq: SPCE) jumped 1.6% in after-hours trading on Tuesday after the spaceflight company posted mixed earnings.
Financials: Virgin Galactic reported a loss of 31 cents per share and revenue of about $272,000; both were below expectations.
Cash: Although Virgin Galactic is still not in revenue mode yet, the company said that its cash position remains strong at $931 million. The company is on track for the launch of its private commercial service in the fourth quarter of 2022.
Debt: The company got $425 million through a convertible debt offering in January.
Final Thoughts: Shares of Virgin Galactic are down 82% in the past year. Is this a time for investors to buy the dip or wait for better days?
Notables
Notable Earnings Today: Lowe's (NYSE: LOW), FuboTV (NYSE: FUBO), Overstock.com (Nasdaq: OSTK), Skillz (NYSE: SKLZ), BioCryst (Nasdaq: BCRZ), Hertz Global Holdings (Nasdaq: HTZ), TJX (NYSE: TJX), Clover (), Petroleo Brasileiro (NYSE: PBR), eBay (Nasdaq: EBAY), Bausch Health (NYSE: BHC), Lemonade (NYSE: LMND), Monday.com (Nasdaq: MNDY), Magnite (Nasdaq: MGNI), Jack in the Box (Nasdaq: JACK), Booking Holdings (Nasdaq: BKNG), Molson Coors Beverar (NYSE: TAP), Fulgent (Nasdaq: FLGT), HollyFrontier (NYSE: HFC), Agnico Eagle Mines (NYSE: AEM), Ansys (Nasdaq: ANSS), Avista (NYSE: AVA), Bath & Body Works (NYSE: BBWI), Brink's (NYSE: BCO), Barclays (NYSE: BCS), Allbirds (Nasdaq: BIRDS), BioMarin Pharmaceutical (Nasdaq: BMRN), Churchill Downs (Nasdaq: CHDN), Clean Harbors (NYSE: CLH), Chesapeake Utilities (NYSE: CPK), Danone (OTCMKTS: DANOY), Physicians Realty Trust (NYSE: DOC), Extra Space Storage (NYSE: EXR), Global Blood Therapeutics (Nasdaq: GBT), Heico (NYSE: HEI), HollyFrontier (NYSE: HFC), Herbalife Nutrition (NYSE: HLF), iHeartMedia (Nasdaq: IHRT), Ingersoll Rand (NYSE: IR), Jumia Technologies (NYSE: JMIA), LL Flooring Holdings (NYSE: LL), Noodles & Co (Nasdaq: NDLS), NetApp (Nasdaq: NTAP), Universal Display (Nasdaq: OLED), Pan American Silver (Nasdaq: PAAS), Petroleo Brasileiro (NYSE: PBR), Rent-A-Center (Nasdaq: RCII), Sturm Ruger (NYSE: RGR), Sinclair Broadcast Group (NASDAQ: SBGI), Stratasys (Nasdaq: SSYS), Stellantis (NYSE: STLA), STORE Capital (NYSE: STOR), VICI Properties (NYSE: VICI), Vipshop Holdings (NYSE: VIPS), Wolverine World Wide (NYEE: WWW), Matador (MTDR).
Notable IPOs Today: FG Merger Corp. Unit (Nasdaq: FGMCU), AIB Acquisition Corporation Class A Ordinary Shares (Nasdaq: AIB), Broad Capital Acquisition Corp Common Stock (Nasdaq: BRAC).
Notable Equity Crowdfunding Campaigns Ending Today: Capital Pipeline (StartEngine), Yubi Health (StartEngine).
Notable Economic Events Today: API Weekly Crude Oil Stock (4:30 p.m. ET).
Palo Alto Networks Rises Due To Strong Cybersecurity Demand
Shares of Palo Alto Networks (Nasdaq: PANW) increased 6.41% in after-hours trading on Tuesday after the cybersecurity company posted positive earnings.
Financials: Palo Alto Networks reported $1.74 per share and $1.3 billion in revenue; both were better than expected.
Guidance: The company projects revenue in the current quarter between $1.345 billion and $1.365 billion, which is a growth between 25% and 27%. This guidance was better than expected.
Quote: “In Q2, our company continued to benefit from strength across our three security platforms, driven by strong cybersecurity demand, organizations architecting for hybrid work and growing their hyperscale cloud footprints.” - Nikesh Arora, chairman and CEO of Palo Alto Networks.
Final Thoughts: Shares of Palo Alto Networks are up 25% in the past 12 months, but the stock is considered to be overvalued.
SafeMoon Investing Benefits
SafeMoon has emerged as a top cryptocurrency in the past year. Here are two advantages.
Go Long: Unlike other cryptos, SafeMoon was designed to favor long-term investors. Short-term investors are charged a fee when they sell. This is meant to encourage long-term investing.
Buzz: SafeMoon is constantly trending on social media. A lot of celebrities have supported the coin.
Final Thoughts: On top of that, the price of SafeMoon is up in the first year of its existence.
Trends to Watch
Call a Doctor: Teladoc falls 4% after hours despite quarterly earnings beat, bullish 2022 outlook (Seeking Alpha)
Drop: Bitcoin plunges below $37,000 as tensions between Russia and Ukraine climb (CNN)
TikTok Copycat: Facebook Rolls Out Short-Form Video Format Reels Globally (CNET)
Investment: Groundfloor steps up its real estate debt crowdfunding platform with fresh capital (TechCrunch)
Positive: Reddit’s retail investors are bullish on Russia’s invasion of Ukraine (MarketWatch)
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