Fastly Drops, Sleep Number Pops
MarketFoolery
The Motley Fool
4.7 • 1.7K Ratings
🗓️ 15 October 2020
⏱️ 18 minutes
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Summary
Fastly falls 25% as the edge cloud platform company warns of lower revenue from its biggest customer (TikTok). Sleep Number hits a new all-time high after strong 3rd-quarter profits surprise Wall Street. Emily Flippen analyzes those stories, as well how Peleton, Planet Fitness, YogaWorks and others are dealing with the evolving fitness industry.
Transcript
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| 0:00.0 | It's Thursday, October 15th. |
| 0:04.0 | Welcome to Marker Fuller. |
| 0:05.0 | I'm Chris Hill with me today. |
| 0:08.0 | She's back. It's Emily Flipping. |
| 0:10.0 | Good to see you. |
| 0:11.0 | Hey, good to see you too, Chris. We have got yet another stay-at-home stock that's hitting a new high. |
| 0:17.0 | We have some news in the fitness industry that we will get to, |
| 0:21.0 | but we are going to start with a rough day for one particular |
| 0:24.6 | group of shareholders shares of vastly down 25% at the moment the Edge Cloud |
| 0:32.1 | platform cut revenue guidance for the current quarter because of a reduction in |
| 0:37.3 | business from its largest customer, which is Tik-Tok. Now they didn't say that in the announcement but fastly has previously said that |
| 0:45.2 | tick talk is their biggest customer when you look at this business and you look at the stock falling and you know the stocks |
| 0:54.8 | had a great run but when you look at it falling 25% do you think that's an over |
| 0:59.3 | reaction or do you think for an unprofitable business cutting revenue from its largest customer? |
| 1:04.9 | Yeah, this seems about right. |
| 1:06.7 | I think it's a natural reaction. |
| 1:09.2 | When you have a stock like Vassley, which as you mentioned has been a high flyer for this entire year and you |
| 1:17.1 | have negative news coming out decreasing revenue guidance 3.5% on the low end up to 8% on the high end. So a pretty substantial decrease in |
| 1:26.6 | expectations for the next quarter. It's natural to see a really volatile |
| 1:31.2 | reaction. We saw that yesterday with the stock falling 25 30% |
| 1:36.0 | after hours. What is worth mentioning though is that it brings the stock back to the |
| 1:40.4 | price it was maybe around a month ago and that's not to say that you |
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