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Pfizer Inc – A trial of Pfizer Inc PFE.N experimental antiviral pill for COVID-19 was stopped early after the drug was shown to cut by 89% the chances of hospitalization or death for adults at risk of developing severe disease, the company said on Friday. The results appear to surpass those seen with Merck & Co Inc MRK.N pill molnupiravir, which was shown last month to halve the likelihood of dying or being hospitalized for COVID-19 patients also at high risk of serious illness.
Pinterest Inc – Shares closed at their lowest level in over a year on Thursday after which the company posted Q3 adj. profit per share of 28 cents, above estimates of 23 cents per share. Q3 revenue of $633 mln beat analysts’ average estimates of $630.9 mln. PINS also forecast Q4 revenue growth in the high-teens percentage range as online retailers up ad spending before holiday quarter. The company did say it did not face any material impact from Apple’s Privacy changes.
Peloton Interactive Inc – Down sharply in early trading after the company cut its FY sales forecast by up to $1 bln, saying demand for its exercise bikes and treadmills was slowing faster than expected, as people return to pre-pandemic habits. The company’s holiday-quarter sales forecast also missed market expectations. As many as seven brokerages cut their PTs on PTON to as low as $70, as of early Friday, the stock is down ~43% this year, dragged by fears over slowing demand, co’s supply issues and a recall of its treadmills.
Square Inc – The Jack Dorsey run digital payments firm reported disappointing third-quarter revenue, dragged down by a slowdown in Bitcoin-related transactions via its Cash App from the previous period. Square’s overall sales came in at US$3.84 billion, up 27 per cent from a year earlier but less than the average analyst estimate of US$4.51 billion. Gross profit, which includes fees taken from Square’s Cash App and Seller businesses, was US$1.13 billion in the period, an increase of 43 per cent from a year earlier, but little changed compared with the second quarter. While revenue from sales of Bitcoin was US$1.82 billion, representing 47 per cent of Square’s total sales, the cryptocurrency generated just 3.7 per cent of Square’s gross profit in the third quarter.
Draftkings Inc – Posted a 60% increase in quarterly revenue on Friday as betting firms enjoyed a boom in online gambling during the COVID-19 pandemic. Revenue for DraftKings rose 60% to $213 million in the third quarter. Demand for online betting soared during the lockdowns as casinos and shops were off limits for people forced to stay at home. Revenue for DraftKings rose to $213 million in the third quarter ended Sept. 30. Analysts on average had expected revenue of $236.6 million, according to IBES data from Refinitiv.
Uber Technologies – Reported its third-quarter financial results. Critically, the long-unprofitable company managed to squeak $8 million worth of adjusted EBITDA — a very modified profit metric — while still posting net losses of more than $2 billion. Gross bookings totaled $23.1 billion, up 57% on a year-over-year basis. That figure translated to revenues of $4.8 billion, up 72% compared to the year-ago quarter.
Datadog Inc – Up 15% in early trading on big earnings beat, the company posted. Third quarter revenue that grew 75% year-over-year to $270 million. Also reported strong growth of larger customers, with 1,800 $100k+ ARR customers, up from 1,082 a year ago. The company also announced ten new products, while lifting its Q4 revenue forecast to between $290 mln and $292 mln, vs est $272.2 mln.
Airbnb Inc – Reported Q3 revenue rose 66.7% to $2.24 bln topping estimates of $2.05 bln, net income surged nearly four times to $833.9 mln from a year earlier. ABNB expects rebound in global travel amid rising vaccination rates in last three months of the year to drive growth in 2022. At least 3 brokerages raised their PTs on stock after it reported Q3 results, forecast. The company said it remains encouraged at indicators of 2022 growth like active listing growth and higher usage of flexible date booking.
Rewalk Robotics Ltd – FDA Awards Breakthrough Device Designation to the ReWalk ReBoot Soft Exo Suit.
Ocugen Inc – Higher after announcing it has officially submitted EUA request for COVID-19 vaccine candidate BBV152 to the U.S. FDA.