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Shares in Slack Technologies (WORK) plunged 15% in Thursday’s after-hours trading after the company reported a solid F1Q21 but withdrew full year billings guidance. Slack also revealed an exciting new strategic collaboration with Amazon (AMZN)- but that wasn’t enough to send shares higher.Revenue, billings, margin, and FCF were ahead of consensus with Q1 Non-GAAP EPS of -$0.02 beating Street expectations by $0.04. Similarly GAAP EPS of -$0.13 beat by $0.04 and revenue of $201.7M delivered strong year-over-year growth of 50%, while topping expectations by $13.58M.Meanwhile calculated billings came in at $206M vs consensus of $189.2M, and representing 38% year-over-year growth.F2Q guidance came in higher than consensus as well, and FY21 was raised on revenue, FCF and margin. Calculated billings guidance was withdrawn due to the ongoing uncertainties surrounding the COVID-19 pandemic, but the consensus had been for guidance of $1.000.9B (+30.8% Y/Y).“Q1 was a phenomenal quarter for Slack, with the addition of 12,000...
(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance to hold discussions on Saturday to formally sign off on the deal.After almost a week of wrangling, OPEC+ leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Iraq to stop shirking its share of cuts and even to compensate for failure to comply with cuts in the past. OPEC is set to start its meeting Saturday at 2pm CET, followed by the OPEC+ meeting at 4pm CET, delegates said.The agreement -- though still to be ratified -- means OPEC+ will extend its record production curbs for another month until the end of July. Brent crude, the global benchmark, edged higher and rose above $40 a barrel.The 23-nation partnership between the Organization of Petroleum Exporting Countries...
(Bloomberg) -- OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance meeting on Saturday to sign off on the deal.After almost a week of wrangling, OPEC+ leaders Russia and Saudi Arabia clinched a tentative deal with holdout member Iraq, according to a delegate. The pair were pushing Iraq to stop shirking its share of cuts and to compensate for failure to comply with cuts in the past. OPEC will meet on Saturday at 1 p.m. London time, followed by an OPEC+ meeting two hours later, delegates said.The agreement -- though still to be ratified -- means OPEC+ will extend its record production curbs for another month until the end of July. Brent crude, the global benchmark, rose above $40 a barrel.The 23-nation partnership between the Organization of Petroleum Exporting Countries and other major producers has helped engineer a...
[Editor's Note: "Stay on the Sidelines While Delta (DAL) Stock Is Up in the Air" was originally published April 13, 2020. It is regularly updated to include the most relevant information.]Source: Markus Mainka / Shutterstock.com With investors jumping back into airlines, what's next for Delta Air Lines (NYSE:DAL)? The legacy carrier's shares have rallied 70% off their lows set in mid-May. While the novel coronavirus continues to impact air travel, Wall Street is betting on a swift recovery in DAL stock.However, many things remain uncertain. On one hand, air travel is slowly rebounding from its extreme lows in weeks prior. On the other hand, even if the novel coronavirus quickly fades away, it could be years until a rebound happens, as some industry leaders have predicted.InvestorPlace - Stock Market News, Stock Advice & Trading TipsYet, while airline stocks remain risky, Delta may be a cautious way to bet on a V-shaped...
Spot gold was down 0.2% at $1,706.91 per ounce as of 0324 GMT. U.S. gold futures slid 0.7% to $1,714.50. "Gold prices have been under pressure after a miraculous stock market run that seems to be showing some signs of plateauing," said Edward Moya, a senior market analyst at broker OANDA....
Spot gold was down 0.2% at $1,708.07 per ounce as of 0700 GMT, while U.S. gold futures slid 0.9% to $1,711.80. "Gold prices have been under pressure after a miraculous stock market run," said Edward Moya, senior market analyst at broker OANDA. Investors are now awaiting U.S. nonfarm payrolls data for May due at 1230 GMT....
[Editor's Note: "Sell Moderna (MRNA) Stock as Covid-19 Catalyst Inflates Valuation" was originally published April 2, 2020. It is regularly updated to include the most relevant information.]Source: Shutterstock Is the party over for Moderna (NASDAQ:MRNA)? MRNA stock soared in May as the company's novel coronavirus prospects looked bright. But now, with investors selling off vaccine plays, the days of this being a "hot stock" may be coming to an end.Granted, this doesn't mean "game over" for their prospective mRNA-1273 vaccine. Already entering phase 2 clinical trials, they could have a vaccine available for use by the end of the year.InvestorPlace - Stock Market News, Stock Advice & Trading TipsPerceived "first mover advantage" is one thing Moderna has going for it. Another is social proof, courtesy of the U.S. government. With a former exec leading the White House's vaccine efforts, it seems Moderna has yet another edge.Yet, as investors have either cashed...
