Big tech has gradually rebounced since the beginning of June quarter's earnings, with $Nasdaq 100 ETF(QQQ)$ up 15%+ since this July. While another notable sign is the Mid-cap Techs showed more volality, most of which is positive by surprising earnings or guidances, while some tumbled and surge back.
Most of the rebounced stocks has retreated more than the benchmark, some even lost 70% of value, so the Shorts may take profits properly.
$Uber(UBER)$ /$Lyft, Inc.(LYFT)$
Both the ride-sharing companies tops expectations in Q2's revenue and profits, indicating the recovery of pandemic going well. Uber has a 9.2% surprise on its revenue and 37% on its EBITDA, while the monthly active consumer reached 122 million. Lyft's revenue and active clients also surpassed its estimates, with strong operating income and EBITDA.
It is apprantly a strong recovery on mobility industry, even with the high inflation on transportation cost. We believe the trend continuing since the oil price keeps descending.
$SoFi Technologies Inc.(SOFI)$
The Fintech sector performed good in Q2. Sofi, with the students' loans business beat market consensus and its own guidance, it has demonstrated the benefit of having a diversified set of revenue streams and a keen focus on continuing to underwrite high-quality credit.
The Feds' raising the rate at Q2 with a 75bps, and another 75% in July, high interest rate robust the deposit growth, and Sofi has advantages if the federal moratorium on government student loan repayments is lifted before the end of the year.
When the market didn't pay much attention on Covid-19 vaccines as the pandemic is fading, Moderna still showed a product sales (COVID-19 vaccines) in Q2 a 8% Y/Y growth to 4.53B, better than the consensus of 3.82B. The company expects sales be greater in Q4 than in Q3 due to timing for approval of its updated COVID-19 vaccines and the related manufacturing ramp-up of new products.
Besides, it is convinced that mRNA vaccines could fit more medical senarios, and Moderna has its pipelines in leading place.
$Cloudflare, Inc.(NET)$ /$Atlassian Corporation PLC(TEAM)$
The SaaS sector suffered huge retreat this year, but recently it seems to find the bottom. CloudFlare has just decleared double beat in Q2, with a guidence raise in as large customers added. Atlassian made the same achievements as the quarterly subscription revenue up 55% YoY.
Market is still waiting $Snowflake(SNOW)$ 's earning to give the whole feedback.
It is convinced the market's risk on appetite has come back. Biotech, Fintech, Ride-sharing, SaaS, all this sub-industry is welcoming money back. Those with Q2 earnings miss, also experience a "buy the dip", like $Airbnb, Inc.(ABNB)$ $Booking Holdings(BKNG)$ .
At the same time, market punish those missed the earnings and still lower the guidence, demonstrating a bad prospect in the whole industry, like social media ads. $Snap Inc(SNAP)$ .
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