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Shares in Elastic NV (ESTC) fell 7% in after-hours trading on Wednesday after the company reported strong fiscal fourth quarter results, but disappointed with weak guidance.Specifically, Q4 Non-GAAP EPS of -$0.12 beat consensus estimates by $0.19 while GAAP EPS of -$0.38 came in $0.15 above expectations. Revenue of $123.62M surged 53.4% year-over-year thanks to better execution and broad product traction, and beat Street estimates by $6.47M.However, FY21 guidance was below consensus taking into account expected (not yet witnessed) macro headwinds. Total revenue is expected to be between $530 million and $540 million (vs consensus of $561.3M), with non-GAAP operating margin between -15% and -13%. Non-GAAP net loss per share is now guided at $0.98 and $0.85 (vs. -$1.32 expected).“We believe it is prudent to expect some near-term business headwinds as the economic impact from the COVID-19 situation further unfolds. As such, our guidance includes the expected impact of COVID‑19 on our business and results...
Oil prices dropped on Thursday, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in U.S. distillate inventories. Brent crude futures fell 1.18%, or 47 cents, to $39.32 a barrel as of 0652 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 1.80%, or 67 cents, to $36.62 a barrel. Saudi Arabia and Russia, two of the world's biggest oil producers, have agreed to support extending into July the 9.7 million barrels per day (bpd) in supply cuts backed in April by the OPEC+ group, comprised of the Organization of the Petroleum Exporting Countries and other major producers....
Anvil, a Silicon Valley startup working to simplify paperwork processing for businesses, has raised $5 million in seed funding, TechCrunch reported Wednesday.What Happened Alphabet Inc. (NASDAQ: GOOGL) (NASDAQ: GOOGL) subsidiary Google's artificial intelligence investment arm Gradient Ventures led the funding round, according to TechCrunch.Anvil competes with companies like DocuSign Inc. (NASDAQ: DOCU) that also help businesses make their paperwork process electronically and faster.The startup's Chief Executive Officer Mang-Git Ng told TechCrunch that DocuSign is "great for completing and executing a document," but is "lacking when it comes to actually creating the document," a gap that Anvil is looking to fill.Pandemic Surged Demand For Digitization, CEO Says Ng also told TechCrunch that the novel coronavirus (COVID-19) pandemic increased the demand for companies wanting to move their paperwork to digital space."The overall trend that we've been seeing is that people in these industries are thinking about going more digital, but generally speaking, the...
The luxury giant said "that it is not considering buying Tiffany shares on the market," despite a recent drop in their value....
(Bloomberg) -- When the offshore yuan matched its record low last week, it served notice that China’s exchange-rate fixing had returned as a key variable to participants in the $6.5 trillion-a-day global foreign-exchange market.With Sino-American tensions on the rise again, China’s appetite to allow significant drops in the yuan will affect the day-to-day moves of a whole raft of other currencies. While correlation is lacking over longer periods, last Wednesday showcased the kind of spot impact the yuan can have for others. The offshore yuan slid 0.7% at one point against the dollar in wake of the bilateral flare-up over Hong Kong. Australia’s dollar dropped as much as 1.3%, while the Colombian peso saw a 1.4% drop.“The yuan is definitely on my radar,” said Stuart Simmons, a senior portfolio manager at QIC Ltd., which manages about A$83 billion ($53 billion). “I use it more as an indicator to take advantage of...
Amazon.com Inc. (AMZN) said it is leasing an additional 12 Boeing (BA) 767-300 converted cargo aircraft as the e-commerce giant seeks to make delivery times faster amid an increase in online orders.One of the new aircraft joined Amazon’s air cargo operations in May, and the remaining 11 are expected to be delivered in 2021. These aircraft will be added to Amazon’s existing fleet of 70 aircraft.“Amazon Air is critical to ensuring fast delivery for our customers – both in the current environment we are facing, and beyond,” said Sarah Rhoads, VP of Amazon Global Air. “During a time when so many of our customers rely on us to get what they need without leaving their homes, expanding our dedicated air network ensures we have the capacity to deliver what our customers want: great selection, low prices and fast shipping speeds.”In addition, Amazon announced that it will open new regional air hubs...
