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Tag: SONO

  • Sonos, Inc. (SONO) stock is moving up in the aftermarket – What’s driving it high?

    Sonos, Inc. (SONO) stock is moving up in the aftermarket – What’s driving it high?

    Sonos, Inc. (SONO) has seen an increase of 6.42% in the aftermarket because the company announced its first-quarter fiscal year 2022 results. However, the last trading session concluded at $26.65 with an increase of 0.23%.

    First Quarter Fiscal Year 2022 Results by SONO – What’s up?

    SONO announced the first-quarter fiscal year 2022 results on 9th February 2022. The company announced a revenue of $664.5 million with a 3% increase year over year. Moreover, the gross margin came out to be 47.8% with an incline of 47.8%. Not only this but GAAP net income totaled $123.5 million with adjusted EBITDA of $163.1 million. Furthermore, cash flow from operating activities was $179.9 million. Last but not the least, free cash flow reported was around $173.6 million.

    Now what?

    The company is thrilled to report that Sonos had another good quarter, with record revenue of $664.5 million and a strong adjusted EBITDA margin of 24.6 percent despite continuing to invest in the company. Importantly, SONO believes that they would have sold a lot more if it hadn’t been for chip shortages that limited the supply, as demand was high. The company has increased the midpoint of the projection to reflect the fact that the operations team has established tremendous resiliency and that they are well-positioned to deliver on the fiscal 2022 outlook.

    In the long run, Sonos has a huge chance. The combination of modern household generation and existing client repurchases continues to be a strong growth engine. Furthermore, to satisfy existing customers and attract new ones, the company has a fantastic product plan. Lastly, SONO thinks that it will grasp the future and produce significant shareholder value in the long run, with a 2% sales volume of the $89 billion worldwide audio markets.

    Long-term Sustainability Commitment by SONO – What’s New?

    On 8th December 2021, SONO reported that as part of its commitment to a more sustainable future, the company unveiled its first Climate Action Plan. By following the plan, Sonos’ value chain will be carbon neutral by 2030 and net-zero by 2040. The company detailed the idea in Sonos’ 2021 Listen to Better Report, which provides an annual assessment of the company’s ESG activities.

    The company is entering into a new era where it will focus on environmental responsibility with the Climate Action Plan, scaling up the efforts to decrease the effect across the board. Lastly, SONO is an innovative firm that thrives on the challenge of developing better products for the consumers and the environment.

  • Early Morning Vibes: 4 Stocks Worth Watching Right Now

    Early Morning Vibes: 4 Stocks Worth Watching Right Now

    Yesterday was a volatile day on Wall Street. The S&P 500 closed 0.13% lower but looking at the high and low price we see a volatility of 2.34%. The final closing price was 3,881 points. Nasdaq 100 closed 0.22% lower, but even had a movement of 3.78% intraday. The final closing price was 13,194 points. The oldest US index is known for lower volatility than the two above. The Dow rose 0.05% and had a volatility of 1.59% intraday. During the closing bell, the Dow Jones Industrial Average was trading at 31,537 points. The high volatility on the US stock exchange translated into lower Asian stock prices.

    The chairman of the Fed, Jerome Powell, took the floor yesterday. According to the Fed, it is nowhere near the time to think about normalizing monetary policy. Powell also argues that higher yields in the bond market are a sign of confidence rather than fear of inflation. A period of high inflation is usually accompanied by a period of sharply rising commodity prices. The latter are now really on the rise. You only have to take the graphs of copper, soybeans, sugar, wood, cotton and so much more. All these commodities are quoted on the futures market, which is mainly used by producers for hedging and speculators.

    Company News

    The Tesla stock started the year at $720 and yesterday the stock closed below $700. So Tesla is currently with a negative return. It is becoming more and more clear that not only Tesla is on a conquest. German car manufacturers are recording increasingly higher sales figures for their electric car segment, and Chinese competitors Nio and Xpeng are also showing increasingly better figures. Non-carmakers like Apple are also venturing into electric cars, suggesting Tesla is flattening its first mover advantage. Tesla delivered nearly 500,000 cars in 2020. According to Elon Musk, sales would increase by 50% annually for the next two years. Whether Tesla can deliver on this outlook will largely depend on how the economy recovers from the corona crisis.

    A second possible reason for the sharp fall in Tesla shares can be found in the pricing. Tesla lowered the prices of Model Y and Model 3 by about $2,000 last week. Investors now suspect that the price drops show that demand for Tesla is not as high as most expect.

    Today Top Movers

    Upwork Inc. (UPWK) stock soared 18.69% to $61.21 in the pre-market trading ‎after UPWK reported adjusted fourth-quarter profit and sales. Upwork said it earned $900,000, or 1 cent a share, contrasting with a loss of $5.5 million, or 5 cents a share, in the fourth quarter of 2019.

    ‎Arlo Technologies Inc. (NYSE: ARLO) shares are trading up 25.45% at $8.38 at the time of writing. ARLO also reported Q4 Earnings, In a note Matthew McRae, CEO of ARLO told that company closed out the year with an 89.1% year over year paid account growth.

    ‎NIO Limited (NIO), an auto manufacturers company, rose about 1.71% at $49.95 ‎in pre-market trading Wednesday.‎ The share price of NIO fell in recent days, but the drop appears to have been driven by volatility leading up to the company’s earnings report, scheduled for March 1. NIO vehicles may soon be sold in the United States thanks to strong deliveries.

    Big Rock Partners Acquisition Corp. (BRPA) grew over 49.05% at $65.0 in pre-market trading today.‎ BRPA has signed an agreement to complete a business combination with Big Rock Partners Acquisition. Announcing that the Phase 2b/3 trial of ZYESAMI for the treatment of Respiratory Failure in Covid-19 critically ill patients.

    Top Upgrades & Downgrades

    Deutsche Bank turned bullish on McAfee Corp. (MCFE), upgrading the stock to “Buy” and assigning a $23.5 price target, representing a potential upside of 20.82% from Tuesday’s close. 

    BigCommerce Holdings, Inc. (BIGC) has won the favor of KeyBanc’s equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $75, suggesting 18.43% additional upside for the stock. 

    Bank of Montreal (BMO) received an upgrade from analysts at Credit Suisse, who also set their one-year price target on the stock to $108.0. They changed their rating on BMO to Outperform from Neutral in a recently issued research note. 

    Earlier Wednesday Deutsche Bank reduced its rating on InterContinental Hotels Group PLC (IHG) stock to Hold from Buy. 

    William Blair analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Systemax Inc. (SYX) has been changed to Market Perform from Outperform. 

    Analysts at Goldman Sachs downgraded Energizer Holdings Inc. (ENR)’s stock to Neutral from Buy Wednesday.

    Latest Insider Activity

    MGM Resorts International (MGM) Director JAMMET MARY CHRIS announced the sale of shares taking place on Feb 23 at $38.62 for some 6,626 shares. The total came to more than $0.26 million.

    SunPower Corporation (SPWR) Principal Accounting Officer Heang Vichheka sold on Feb 22 a total 2,124 shares at $35.81 on average. The insider’s sale generated proceeds of almost $76060.

    OPKO Health Inc. (OPK) CEO & Chairman FROST PHILLIP MD ET AL declared the purchase of shares taking place on Feb 19 at $4.77 for some 500,000 shares. The transaction amount was around $2.38 million.

    Sonos Inc. (SONO) Director Volpi Michelangelo bought on Feb 19 a total 53,774 shares at $37.35 on average. The purchase cost the insider an estimated $2.0 million.

    Important Earnings

    Top US earnings releases scheduled for today include The TJX Companies Inc. (NYSE: TJX). It will announce its Jan 2021 financial results. The company is expected to report earnings of $0.62 per share from revenues of $11.48B in the three-month period. 

    Analysts expect ViacomCBS Inc. (NASDAQ: VIAC) to report a net income (adjusted) of $1.02 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $6.88B. 

    Gran Tierra Energy Inc. (GTE), due to announce earnings after the market closes today, is expected to report revenues of $190.43M recently concluded three-month period.

  • Early Morning Vibes: Check Out These 3 hot Stocks Right Now

    Early Morning Vibes: Check Out These 3 hot Stocks Right Now

    On February 10, American stock exchanges closed without significant changes. The S&P 500 index fell by a symbolic 0.03%, to 3910 points, the Dow Jones added 0.20%, the NASDAQ lost 0.25%. During the day, losses in the S&P 500 reached 0.6%, but its weakness was temporary. There were no new drivers of movement, but optimism about fiscal stimulus remained heightened. The cyclical consumer goods sector looked noticeably weaker than the market (-0.94%) due to Tesla shares, which fell 5.25%.

    Company news

    Twitter (TWTR: + 13.2%) beat consensus on revenue and EBITDA, but below-expected audience growth.

    Taxi Lyft (LYFT: + 4.8%) posted better-than-expected quarterly revenue. The company said it was able to go into profit in the third quarter.

    General Motors (GM: -2.1%) operating income was above market expectations. At the same time, as expected by analysts, the company warned of a shortage of semiconductors.

    Dating services developer Match (MTCH: + 7.7%) acquires South Korean company Hyperconnect for $ 1.7 billion.

    Today, world stock exchanges are showing mostly positive dynamics. The news background remains calm. Ultra-soft monetary and stimulating fiscal policies remain strong factors supporting optimism. Fed Chairman Jerome Powell, during his speech in New York yesterday, reaffirmed his commitment to the course at low rates and also noted that the opening of the economy will lead to a significant increase in consumer spending. However, inflationary pressure, according to Powell, may turn out to be unstable, namely, further parameters of the monetary policy will depend on inflation and unemployment.

    Technical picture

    Technically, the S&P 500 is still in a medium-term uptrend. The trading session the day before did not change the overall picture. The broad market index is consolidating in a tight range after rising 4% last week. Resistance at the upper border of the uptrend is still a significant obstacle.

    Today Top Movers

    RCM Technologies Inc (RCMT) stock ascended 126.28% at $8.35 in the pre-market trading today.‎ The company provided an update on its recently obtained projects to assist its clients in producing higher grades of ethanol for use in beverage and hygienic applications such as sanitizer-grade ethanol. ‎

    Microvision Inc (MVIS) gained over 38.29% at $19.36 in pre-market ‎trading on Thursday after declaring that it has received necessary components and equipment to meet its April milestone of completing A-Samples of its Long-Range Lidar Sensor. ‎

    Sonos Inc (SONO) grew over 15.59% at $36.41 in pre-market trading ‎today.‎ The maker of smart speakers generated revenue of $645.6 million in its fiscal first quarter, up from $562.1 a year earlier and ahead of the $590 million that analysts surveyed by FactSet had been projecting.

    Top Upgrades & Downgrades

    Wells Fargo turned bullish on The Western Union Company (WU), upgrading the stock to “Equal-Weight” and assigning a $25.0 price target, representing potential upside of 6.43% from Wednesday’s close. 

    Pacific Biosciences of California Inc. (PACB) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight and moved their price target to $52.0, suggesting a 13.29% additional upside for the stock. 

    AnaptysBio Inc. (ANAB) received an upgrade from analysts at JP Morgan, who also set their one-year price target on the stock to $40.0. They changed their rating on ANAB to Overweight from Underweight in a recently issued research note.

    Earlier Thursday Piper Sandler reduced its rating on Helmerich & Payne Inc. (HP) stock to Neutral from Overweight and assigned the price target to $24. 

    Vertical Research analysts reduced their investment ratings, saying in research reports covered by the media that it’s rating for Spirit Airlines Inc. (SAVE) has been changed to Hold from Buy. 

    Analysts at Barclays downgraded Equitrans Midstream Corporation (ETRN)’s stock to Underweight from Equal-Weight Thursday.

    Latest Insider Activity

    Tesla Inc. (TSLA) Director Musk Kimbal announced the sale of shares taking place on Feb 09 at $852.12 for some 30,000 shares. The total came to more than $25.56 million. 

    The Walt Disney Company (DIS) Executive Chairman IGER ROBERT A sold on Feb 08 a total of 1,177,989 shares at $190.12 on average. The insider’s sale generated proceeds of almost $41.83 million. 

    InspireMD Inc. (NSPR) Director Kester Thomas J declared the purchase of shares taking place on Feb 08 at $0.62 for some 120,960 shares. The transaction amount was around $74995. 

    Penn National Gaming Inc. (PENN) Director SCACCETTI JANE bought on Feb 08 a total 41,978 shares at $120.99 on average. The purchase cost the insider an estimated $99,212.

    Important Earnings

    Top US earnings releases scheduled for today include Expedia Group Inc. (NASDAQ: EXPE). It will announce its Dec 2020 financial results. The company is expected to report earnings of -1.97 per share from revenues of $1.12B in the three-month period. 

    Analysts expect Kellogg Company (NYSE: K) to report a net income (adjusted) of $0.89 per share when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Dec 2020 is predicted to come in at $3.5B. 

    Tyson Foods Inc. (TSN), due to announce earnings after the market closes today, is expected to report earnings of 1.49 per share from revenues of $10.84B recently concluded three-month period.

  • 7 Stocks In Consumer Electronics Industry You Can’t Ignore In 2020

    7 Stocks In Consumer Electronics Industry You Can’t Ignore In 2020

    Consumer Electronics include smartphones, cameras, game consoles, GPS navigators and video media, etc and this industry generated profit through the sale of these products. With the evolution of new technology, the demand for these products also increases. Consumers want a wide range of new products with more capabilities and expanded services and installations.

    The consumer electronics industry is expected to show positive growth because of the new trends and technological innovations in the technology sector. This industry is following various new trends to keep pace with the fast-growing market. One of the trends is 5G technology which promised to be much faster in terms of speed of the internet. This technology is also helpful for people living in areas that areas where they have very poor or weak 4G coverage.

    Let take a look at how this industry is using new technology to meet the needs of consumers:

    Apple Inc. (NASDAQ: AAPL)

    Apple Inc. (NASDAQ: AAPL) shares were trading down -5.60% at $108.86 at the time of writing on Friday. Apple Inc. (NASDAQ: AAPL) share price went from a low point around $53.15 to briefly over $137.98 in the past 52 weeks, though shares have since pulled back to $108.86. AAPL market cap has remained high, hitting $1972.26B at the time of writing, giving it a price-to-sales ratio of more than 7. If we look at the recent analyst rating AAPL, Atlantic Equities resumed coverage on AAPL shares with an Overweight rating and a $121.77 price target, which implies room for 12.91% upside momentum this year.

    Sonos Inc. (NASDAQ: SONO)

    Sonos Inc. (NASDAQ: SONO) last closed at $14.60, in a 52-week range of $6.58 to $17.83. Analysts have a consensus price target of $16.43. Sonos Inc. revealed that it has decided to release its financial results for the fourth quarter and fiscal year ended October 3, 2020, on November 18, 2020. SONO market cap has remained high, hitting $1.69 B at the time of writing.

    Vuzix Corporation (VUZI)

    Vuzix Corporation (VUZI) stock drop by -2.72% to $3.94. The most recent rating by Alliance Global Partners, on May 11, 2020, is at a Neutral. Vuzix Corporation (VUZI) earlier disclosed that it has decided to host a conference call regarding its third quarter 2020 operating results at 4:30 PM Eastern Time (ET), November 9, 2020.

    GoPro Inc. (NASDAQ: GPRO)

    GoPro Inc. (NASDAQ: GPRO) shares headed falling, lower as much as -2.78%. The most recent rating by Citigroup, on March 16, 2020, is at a Sell. GoPro Inc. (GPRO) has announced earlier that it is scheduled to release its financial results for the third quarter ended September 30, 2020, after the market closes on November 5, 2020. GPRO market cap has remained high, hitting $964.30 million at the time of writing.

    Sony Corporation (NYSE: SNE)

    Sony Corporation (NYSE: SNE) rose 0.28% after gaining more than $0.23 on Friday. Sony Corporation (SNE) is reportedly in final talks with AT& T to buy U.S. animation-streaming service Crunchyroll in a deal worth more than 100 billion yen ($957 million), the Nikkei business daily reported on Friday.

    iRobot Corporation (NASDAQ: IRBT)

    iRobot Corporation (NASDAQ: IRBT) last closed at $79.58, in a 52-week range of $32.79 to $98.55. Analysts have a consensus price target of $92.20. iRobot Corporation (IRBT) share price went from a low point around $32.79 to briefly over $98.55 in the past 52 weeks. IRBT market cap has remained high, hitting $2.27 Billion at the time of writing.

    Turtle Beach Corporation (NASDAQ: HEAR)

    Turtle Beach Corporation (NASDAQ: HEAR) stock drop by -5.56% to $18.02. The most recent rating by Stifel, on September 30, 2020, is at a Buy. Turtle Beach Corporation (HEAR) and its Hamburg, German-based PC brand ROCCAT, earlier revealed their line-up of brand ambassadors coming together to stream for the Gamers Outreach charity.