• US unemployment claims above 3.1 million
• Weak challenger report
• Lyft (LYFT.US) shares soared 15%
• Weak challenger report
• Lyft (LYFT.US) shares soared 15%
US indices are trading higher on Thursday as the number of people filing initial claims for jobless benefits slowed for a fifth straight week. Unemployment claims report showed that last week 3.1 million people applied for unemployment benefits. Today’s figure came in above analysts estimates of 3 million. Earlier the Challenger report showed US companies reduced the most jobs on record in April. Markets welcomed the news that Chinese exports unexpectedly rose last month despite the ongoing coronavirus pandemic.
S&P500 (US500) has been trading sideways recently between support at 2828.3 pts and resistance at 2904.6 pts. Source: xStation5
JetBlue (JBLU.US) – reported a loss of 42 cents per share well above market expectations of 36 cents a share. Revenue came in below expectations. Similar to other airlines, JetBlue recorded a significant drop in travel demand. Company expecting that its daily cash burn rate will decline to $10 million in May from $18 million during the second half of March.
JetBlue (JBLU.US) is testing local support at $7.60 per share. Should downbeat moods prevail, next support at $6.89 per share may come into play. Local resistsance can be found at $10.58. Source: xStation5
Lyft (LYFT.US) despite travel restrictions company reported 21.2 million active riders in the first quarter, which is 3% higher compare to last year. Lyft recorded a loss of $ 1.31 per share on revenue of $ 956 million, while Wall Street was expecting smaller loss of 62 cents per share on revenue of $ 893 million, according to Refinitiv. The rideshare company’s stock soared 15% in extended trading.
Lyft (LYFT.US) opened with a bullish price gap and price is heading towards resistance at $35.09 per share. Source: xStation5
Etsy (ETSY.US) reported lower than expected first-quarter financial results. Company earned 10 cents per share, while Refinitiv analysts expected earnings of 19 cents per share. Company's revenue came in above forecasts, according to Refinitiv. The online marketplace’s shares dropped 7% in extended trading.
PayPal (PYPL.US) earned 66 cents per share excluding some items on revenue of $4.62 billion, while analysts polled by Refinitiv estimated earnings of 75 cents per share on revenue of $4.74 billion. PayPal stock reached new all-time high during yesterday session. Shares of the online payment service advanced 7% after the closing bell.
T-Mobile US (TMUS.US) - earned $ 1.10 per share which is 8 cents above estimates, however revenue came in slightly below forecasts. Company is expecting that coronavirus will negatively impact its results through at least the end of the year.
Hilton Worldwide (HLT.US) reported better than expect quarterly earnings of 74 cents per share for the first quarter, well above estimates of 55 cents a share. Revenue came in line with analysts’ forecasts. The hotel operator said that impact of the coronavirus did not become significant until March, although comparable system wide revenue per available room did tumble 22.6% during the quarter on a currency-neutral basis.
DexCom (DXCM.US) share price gained 5% after the market closed. On 12th of May the medical device company will replace Allergan on the S&P 500 . DexCom stock hit a 52-week high earlier during yesterday session.
Hyatt Hotels (H.US) posted a loss of 35 cents per share excluding some items while market expected a loss of 17 cents per share. Hyatt President and CEO Mark Hoplamazian announced, “While we continue to operate in an environment of suppressed demand and great uncertainty, we believe our existing liquidity provides sufficient capacity to cover at least 30 months of operations under current conditions.” The company's shares rose 2% in extended trading.
Square (SQ.US) recorded loss of 2 cents per share excluding some items, while analysts expected earnings of 13 cents per share. The mobile payment company shares fell 3% in extended trading.
