Stocks That Slid On Friday

ViacomCBS Inc (VIAC) dropped -6.3 percent despite beating the earnings estimates for the quarter with streaming revenues as its subscription now reached 1.8 million users. Adjusted EPS was 91 cents for the September quarter, compared to a consensus of 80 cents. In terms of industry consensus, sales dropped 9 percent to $6.12 billion from $5.96 billion. Advertising revenue declined 6% to $2.19 billion, but digital and streaming revenues soared 56% to $636 million.


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Dropbox Inc (DBX) lost -4.8 percent on Wall Street. After the U.S. market closed, the software firm involved in document processing posted quarterly earnings per share of 26 cents, up from estimates of 19 cents and -13 cents an in the same quarter a year ago. Compared to $428 million a year earlier and with a forecast of just over $480 million, quarterly sales totalled $487 million. For the Q3, quarterly net income was $33 million compared with a loss of $17 million a year ago.

Peloton Interactive Inc (PTON) plummet -0.9 percent as indoor sports equipment specialist cautioned that, given the strength of demand, supply shortages would weigh on its sales in the short term. The company, however, helps itself to strengthen its annual revenue guidance. The company expects the holiday quarter to hit one billion sales for the first time. The group generated net income of $69 million for the fiscal first quarter, or 20 cents per share, compared to a per-share loss of $1.29 a year earlier. The company more than tripled its quarterly revenue to $758 million from that of $228 million in the same quarter a year earlier. The consensus was 11 cents per share and sales of $735 million.

Groupon Inc (GRPN) dropped -0.36 percent after reporting adjusted earnings per share of 15 cents for its fiscal third quarter on Thursday night, compared to a negative forecast of 52 cents. A year earlier, the EPS was 20 cents for the same. Over the reported period, community sales were $304 million, compared with $495 million a year earlier and industry consensus of approximately $300 million.

 

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