Watch us on YouTube Live at 8:30AM EST
FuboTV Inc – The Sports-centric virtual pay TV provider posted first-quarter revenue growth of 135% to $119.7 million — as well as similar subscriber gains. Paid sub growth jumped 105% to 590,430. Subscription revenue added 131% to $107.1 million. The company also said advertising revenue is still a small part of fuboTV’s overall business — although it is growing. Ad revenue climbed more than two times to $12.6 million. FUBO also raised its FY revenue and subscriber forecast. Current short int in the stock is 17.41%.
Palantir Technologies – Back on watch after yesterday’s impressive rally that followed a statement during the earnings call from the company suggesting it may start not only accepting BTC as payment but may also hold the asset on its balance sheet. Meanwhile, Citigroup raised its PT on the stock to $17 from $15, Jefferies and RBC analysts both out with PT cuts this morning.
Quantumscape Corp – Reported a quarterly adjusted loss of 20 cents per share vs expectations of a loss of 7 cents per share. Reported revenue was zero; analysts expected zero. Quantumscape Corp shares have fallen by 36.4% this quarter and lost 66.3% so far this year. The company said it now expects cash spend on operations and capex for the full year between $260M and $320M as it advances development activities and the higher capacity QS-0 line. QS expects to enter 2022 with greater than $1.3B in liquidity, reflecting a net increase of more than $300M compared to our liquidity entering the year.
Lemonade Inc – Reported a quarterly adjusted loss of 81 cents per share in its latest quarter matching estimates while revenue was $23.50 million; analysts expected $22.00 million. Lemonade Inc’s reported EPS for the quarter was a loss of 81 cents. The mean earnings estimate of analysts had fallen by about 11.2% in the last three months. The company reported a quarterly loss of $49 million.
Alibaba Group Holdings – Back on watch this morning, actively traded premarket along with counterpart JD.com . Both are coming off impressive moves yesterday that followed a move by the US Department of Defense to remove Chinese smartphone maker Xiaomi Corp from a government blacklist, according to a court filing on Wednesday. In March, under the new Biden administration, a federal judge temporarily blocked enforcement of the blacklisting, citing the U.S. government’s “deeply flawed” process for including it in the ban. The move was viewed as a step in the right direction to ease current political tensions between the two countries.
Opendoor Technologies Inc – In its first report since going public via SPAC merger the real estate service company posted a quarterly adjusted loss of 48 cents per share matching estimates. Revenue was $747.27 million; analysts expected $620.18 million. The company reported a quarterly loss of $270.44 million.
Upstart Holdings – Up 20% premarket after the cloud based, AI lending platform reported better than expected results. UPST reported EPS of 22 cents per share for the quarter vs estimates of 15 cents. Revenue also topped at $116.17 million vs analysts expectations of $116.06 million. The company reported quarterly net income of $10.1 million. The company also increased its current Q sales forecast.
Wendys Co – Up 5% in early trading after a solid quarter from the fast food chain, the company also raised its 2021 adjusted earnings forecast to be between 72 cents and 74 cents per share, up from its prior range of 67 cents to 69 cents, betting that its breakfast menu will bring in more customers. Reported first-quarter earnings of $41.4 million. On a per-share basis, the company said it had profit of 18 cents. The hamburger chain posted revenue of $460.2 million in the period, also beating Street forecasts.
Second Sight Medical – The vision-focused medical device maker’s shares are higher premarket after the company said its study to test its device that helps people who are blind, see again has resumed; it had been paused due to COVID-19 restrictions.
Minerva Neurosciences Inc – The micro-cap biotech and medical device maker reported a smaller loss than expected in its latest quarter.
Biomerica Inc – Higher this morning after saying its new COVID-19 antigen rapid test can now be performed with a simple less invasive nasal swab.