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Why Are WideOpenWest (WOW) Shares Soaring Today
Shares of broadband and telecommunications services provider WideOpenWest (NYSE:WOW) jumped 31.8% in the afternoon session after the company received preliminary non-binding acquisition offer from Crestview and DigitalBridge (WOW's largest shareholder). The proposal valued WOW at $4.80/share, which implied a 25% premium to WOW's stock closing price on May 2, 2024. Crestview owns 38% of WOW, while Digital Bridge is a communication infrastructure alternative asset manager who has raised fairly meaningful new capital for a new fund. Following the offer, WOW announced that its board would form a special committee of independent directors to evaluate the proposal.
Why Is Booking (BKNG) Stock Soaring Today
Shares of online travel agency Booking Holdings (NASDAQ:BKNG) jumped 7.5% in the pre-market session after the company reported first-quarter results that beat analysts' revenue expectations. The company also smashed adjusted EBITDA estimates. Gross travel booking grew 10% year on year and came in ahead of consensus, highlighting the expanding demand in the tourism space post-pandemic. Other key demand indicators, including Hotel room nights, airline tickets, and rental car days sold, all beat analysts' expectations. The results were notably impressive, considering the ongoing geopolitical tension in the Middle East, which posed a headwind to demand during the quarter. However, management anticipated a more negative impact in the second quarter.
Why Johnson Outdoors (JOUT) Shares Are Getting Obliterated Today
Shares of outdoor recreational products company Johnson Outdoors (NASDAQ:JOUT) fell 6.8% in the morning session after the company reported first-quarter results that missed on operating profit by a meaningful amount. The company called out "challenging marketplace conditions" and added that it is "continuing to work hard to improve our cost structure and reduce inventory levels."
Universal Display (OLED) Shares Skyrocket, What You Need To Know
Shares of OLED provider Universal Display (NASDAQ:OLED) jumped 9.5% in the morning session after the company reported first-quarter results with strong operating margin improvement. Its revenue and EPS also outperformed Wall Street's estimates. The top line was driven by a strong demand for emitter materials. Moving on, the company raised the lower end of its full-year sales guidance, with revenue expected to be in the range of $635 - $675 million. On the other hand, its inventory levels increased. Overall, we think this was still a really good quarter that should please shareholders.
Why Expedia (EXPE) Stock Is Trading Lower Today
Shares of online travel agency Expedia (NASDAQ:EXPE) fell 14.2% in the morning session after the company reported first quarter results. its growth regrettably slowed and its gross bookings fell short of management's expectations, indicating weaker demand going forward. A reason for the lower bookings was Vrbo, whose recent re-platforming is progressing slower than anticipated. On the other hand, Expedia topped analysts' revenue and EPS expectations.
Why Are BJ's (BJRI) Shares Soaring Today
Shares of american restaurant chain BJ’s Restaurants (NASDAQ:BJRI) jumped 15.4% in the morning session after the company reported first-quarter results that beat analysts' same-store sales, gross margin, and EPS expectations. The results could have been better as same-store sales fell 1.7% due to heavier-than-usual winter weather in January. This affected restaurant traffic, which fell approximately 9% in January before recovering to negative mid-single digits in February and March. As these headwinds are mostly concentrated in the first quarter, management expects second-quarter comp sales to be only slightly negative due to less pricing partly offset by improving traffic trends. The second quarter is expected to benefit from key events, including Mother's Day, Father's Day, and graduation celebrations. Zooming out, we think this was a great quarter that shareholders will appreciate.
MercadoLibre (MELI) Stock Trades Up, Here Is Why
Shares of latin American e-commerce and fintech company MercadoLibre (NASDAQ:MELI) jumped 11.3% in the morning session after the company reported first quarter results, which blew past analysts' revenue and EPS estimates, driven by better-than-expected GMV on its e-commerce platform. The company stated it's seeing record levels of retention for its newest customer cohorts and strong traction for MELI+ as loyalty members are spending more than non-loyalty members. MercadoLibre's ad business is also growing nicely (64% year on year) and reached 1.9% of GMV, up from 1.4% in the same quarter last year.
Why Asure (ASUR) Shares Are Falling Today
Shares of online payroll and human resource software provider Asure (NASDAQ:ASUR) fell 13% in the morning session after the company reported first-quarter results with billings that missed analysts' expectations. Free cash flow also turned negative and fell below expectations. In addition, its revenue guidance for next quarter came in slightly below Wall Street's estimates. On the other hand, Asure's gross margin improved this quarter. Its full-year revenue guidance also came in higher than Wall Street's estimates. Overall, this was a mixed quarter for Asure.
Why Are Udemy (UDMY) Shares Soaring Today
Shares of online learning platform Udemy (NASDAQ:UDMY) jumped 16.3% in the pre-market session after the company reported first quarter results with revenue and EPS exceeding analysts' expectations. ARPU increased in Q1 and Udemy posted positive cash flow - those were the good news. On the other hand its revenue guidance for next quarter missed analysts' expectations and user growth is slow. Overall, we feel this was a mixed quarter for Udemy.
Why Are RE/MAX (RMAX) Shares Soaring Today
Shares of real estate franchise company RE/MAX (NYSE:RMAX) jumped 15.1% in the morning session after the company reported first-quarter results that topped analysts' revenue expectations. Its EPS also narrowly outperformed Wall Street's estimates. That the company reaffirmed full year revenue and adjusted EBITDA guidance means the company is on track.