Analytics, 06 November 2019
Daily comment Nov 6
- Wall St opens lower on mixed earnings, lack of trade news
- MTCH -5.6% on slashed FY guidance
- HP -0.2% on possible takeover by Xerox
- WW -19% on EPS guidance miss
- WTI -0.1% on signs of US crude stocks increase
Market movers:
- Match Group (-5.6%): reported in-line 3Q results, missed on guidance. 3Q rev. +22% y/y to $541 (in-line); EPS +16% y/y to $0.51 vs est. $0.42. Avg subscribers +19% y/y to 9.6mn. Tinder subscribers +1.6mn y/y to 5.7mn. ARPU +4% y/y to $0.59 (in-line). MTCH sees 4Q EBITDA of $205-210 vs est. $228. (https://bit.ly/2WMKaf2)
- HP (-0.2%): Xerox is reportedly considering cash-stock take-over offer for HP. (https://on.wsj.com/2CkRMw8)
- WW International (-19%): The Co. reported 33% decline in operating profit. 3Q rev. –4.7% y/y to $348.6mn vs est. $352.7mn. Net op. income -33% y/y to $47mn. EPS -32.2% y/y to $0.68 vs est. $0.66. Raised FY EPS outlook to $1.63-$1.75 from $1.55-$1.70 vs est. $1.69. (https://bit.ly/2NOP1bs)
Macro:
- Euro area IHS Markit composite PMI for Oct: 50.6 better than earlier estimate of 50.2. (https://bloom.bg/36F8LXN)
- According to Bloomberg, China is in talks of investing ~$5bn-$10bn in Saudi Aramco’ IPO. (https://bloom.bg/2CljBEl)
Commodities:
- WTI (-0.1%): US crude stockpiles rose 4.26mn bls in the week ended 1 Nov: API. (https://on.mktw.net/2WP7NUh)
Coming up:
- Companies to report earnings today: Qualcomm, Fitbit, Baidu, Square.