Stimulus Hopes
By Mon, Dec 7, 2020
Hey Scoopers,
The stimulus package hopes kept the market in the green. — More on that in the “Overall Market” section.
Beyond the overall market, one tech company had an excellent quarter and rallied, while another tech company also had a good quarter but fell off the cliff. — More on that in the “What’s Up?” and “What’s Down?” sections.
Oh, by the way, we’ve got three stocks on our watchlist this week. What are you watching? — More on that in the “Water Cooler” section.
But, first, here is a recap of what happened in the market yesterday:
Market Recap
- U.S. markets: The stock market indices wrapped the week in the green. Scroll down to the “Overall Market” section to read more.
- Cryptocurrency: Bitcoin’s price managed to hold above the $19,000 level all weekend.
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Stimulus Hopes
The market started on the low and gradually moved up. All three indices finished the last day of the week in the green. The stimulus package hopes were the fuel for the market’s slow and steady climb throughout the day on Friday and the entire first week of December.
Just An Excellent Quarter
So what happened?
Shares of PagerDuty Inc (Ticker: PD) were up by more than 26% on Friday. This is another IT infrastructure startup that monitors the IT operations and alerts the technical team if something goes wrong, hence the name PagerDuty. The company announced its latest quarterly earnings report. Revenue was up, so was the number of accounts with more than $500,000 in annual revenue. Everything turned out to be to the liking of investors.
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Short Sightedness
So what happened?
Shares of Yext (Ticker: YEXT) were down by more than 18%. The company announced its latest quarterly earnings report. The Q3 growth and net revenue retention growth was excellent. However, it also announced a slower growth rate for Q4. Financial analysts reduced their target price for the company accordingly. Interestingly, even some of those analysts explained that the growth could go back up in 2021. Yet again, this is the story of financial analysts’ short-sightedness even if they agree the growth will be back in one quarter.
This Week’s Earnings
So what happened?
We are headed to a lighter week of the earnings report. However, there are still a few noteworthy companies on the calendar. Oracle (Ticker: ORCL), Costco (Ticker: COST), and RH (Ticker: RH) are among the companies releasing their latest earnings report that we would be watching. What are you watching this week?
Here is a list of some of the most important earnings you may want to have an eye on:
(Source: Stock Card’s Earning Calendar)
If you have any questions, or suggestions let us know by emailing us at members@tradestocks.com. We look forward to hearing from you.
About the Author
The authors of this Scoop are the editorial team at Stock Card, led by Hoda Mehr. Hoda Mehr is CEO and Co-founder of Stock Card and the host of Renegade Investors podcast. She runs a community of 40,000 stock market investors and manages Stock Card's successful flagship portfolio, Roll with Our CEO, on Stock Card Portfolio Store. Hoda is an Economist with an MBA from Concordia, John Molson School of Business. She applies behavioral economics, data journalism, and storytelling to all aspects of her work. Before starting Stock Card, Hoda worked as a strategy and insights lead at technology companies including Symantec, Aimia and Sony. Create a free account to do your stock market research easily and mistake-free: Stock Card Stock Card
