Financialbuzz.com: 'Market Recap' Week Ending June 7th, 2019

NEW YORK, June 7, 2019 /PRNewswire/ -- U.S. markets experienced a stronger week after its poor performance last week. Markets weakened last week due to the ongoing trade tensions between the U.S. and China. Amid the tensions with China, U.S. President Donald Trump began to target Mexico with tariffs citing concerns over immigration issues. However, despite the ongoing global conflicts, U.S. markets remained relatively flat on Monday as investor fears over trade wars began to subside. On Tuesday, markets skyrocketed following the Federal Reserve's hint at a possible cut. Federal Reserve Chairman Jerome Powell said that the central bank was closely monitoring the trade tensions and that it would "act as appropriate" to sustain the expansion. However, Powell did mention that there are signs of easing trade tensions and as a result, it could be a gateway to a potential rate cut if the economy continues to slow down. Mexican Foreign Minister Marcelo Ebrard helped ease investors' fears after he said on Wednesday that Mexico can likely reach a deal with the U.S. Powell's comments implied that the Feds might look into lower benchmark interest rates, which stand at a range between 2.25% and 2.5%, and would reduce borrowing costs for corporations and ignite fresh enthusiasm for buying equities, according to MarketWatch. The Dow Jones Industrial Average surged by over 500 points following Powell's announcement. The Dow Jones continued to gain throughout Wednesday as investors' hopes for rate cuts continues to grow. Additionally, on Wednesday, White House Trade Advisor told CNN that he believed that the tariffs on Mexico may not have to go into effect now that the U.S. has Mexico's attention. Meanwhile, China announced that it cut off rare-earth supplies to the U.S. in retaliation to the U.S.' tariff hike. The Dow Jones continued its rally on Thursday after a Bloomberg News reported that the U.S. was considering delaying the tariffs on Mexico, gaining 203 points or 0.8%. Cloudera, Inc. CLDR, Stitch Fix, Inc. SFIX, Ciena Corporation CIEN, Beyond Meat, Inc. BYND, DocuSign, Inc. DOCU

The Dow Jones Industrial Average gained as much as 768 points or 3% leading into mid-day on Thursday. The S&P 500 rose by 77.06 points or 2.7%, while the Nasdaq Composite increased by 134.34 points or 1.8%. Corporate earnings also played a large role in the broad market this week as companies such as Box, Salesforce.com, Stitch Fix, Cloudera, Beyond Meat, and Zoom Video Communications weighed into the market. Moving forward, investors and analysts will continue to pay close attention to the trade war tensions between the U.S., China, and Mexico. "We've rebounded from oversold levels, and now the market is grappling with the two-day rally while focused on ongoing trade talks," Paul Brigandi, Co-Head of Portfolio Management and Head of Trading at Direxion, told MarketWatch. "Investors are going to remain cautious until there's some resolution on trade," he added. Those fears, however, "are being kind of balanced by a more dovish stance from the ECB today and the Fed earlier this week."

Cloudera, Inc. CLDR reported its first quarter financial results after the market close on Wednesday. The cloud service provider beat earnings expectations, however, the Company also announced the departure of its Chief Executive Officer Tom Reilly. Cloudera shares fell as much as 39% at the opening bell on Thursday. For the first quarter, Cloudera reported earnings loss of USD 0.13 per share on revenues of USD 187.47 Million. Analysts expected earnings loss of USD 0.23 per share on revenues of USD 188.4 Million. Reilly took on the position of Chief Executive Officer back in 2013. Cloudera announced that Martin Cole, Chairman of the Board, will become interim Chief Executive Officer effective on July 31st. Cole has served as a director on the board since 2017 and has been Chairman of the board since 2018.

Stitch Fix, Inc. SFIX reported its third quarter financial results after the market close on Wednesday. The Company smashed analysts' estimates, which sent shares rallying by as much as 27%. For the quarter, Stitch Fix reported earnings of USD 0.07 per share on revenue of USD 408.9 Million. Analysts expected earnings loss of USD 0.03 per share on revenue of USD 394.9 Million. Revenue rose by 29% year-over-year, largely due to the Company's increase in active clients. At the end of the quarter, Stitch Fix reported 3.1 million active clients, an increase of 17% year-over-year.

Ciena Corporation CIEN reported its second quarter financial results before the market open on Thursday. The Company reported that earnings doubled year-over-year and also topped estimates, sending shares 25%. For the quarter, Ciena reported earnings of USD 0.48 per share on revenues of USD 865 Million. Analysts expected earnings of USD 0.41 per share on revenues of USD 819 Million. Ciena's revenue and earnings both grew substantially year-over-year. Revenues increased by 18.5% year-over-year, while earnings more than doubled from USD 0.23 per share a year ago. The stronger quarter was primarily led by stronger sales in Ciena's networking platforms, which reported total revenue of USD 697 Million compared to USD 591.7 Million a year ago.

Beyond Meat, Inc. BYND reported its first financial results since launching its initial public offering in early May. Beyond Meat exceed analysts' revenue estimates, which sent shares soaring by 25% higher during Thursday's extended hours. For the quarter, Beyond Meat reported earnings loss of USD 0.14 per share on revenue of USD 40.2 Million. Analysts expected revenues of USD 38.92 Million. The Company reported that revenue grew by 215% year-over-year, largely due to its 304.4% growth in its Fresh platform. Retail revenue grew by 110.8% to USD 19.57 Million, while Restaurant and Foodservice revenue rose by 491.4% to USD 20.62 Million.

DocuSign, Inc. DOCU reported its first quarter financial results after the market close on Thursday. Following the financial release, DocuSign shares plunged by 16%. For the first quarter, DocuSign reported earnings of USD 0.07 per share on revenue of USD 214 Million. The Company reported growth in both its earnings and revenue year-over-year. DocuSign's earnings increase from USD 0.01 in the same quarter a year prior, while revenue increased by 37% year-over-year. DocuSign's strong revenue growth was driven by its 36% increase in subscription revenue and a 64% increase in its professional services and other revenue.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the "site") is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For this release, FinancialBuzz.com has not been compensated for financial news dissemination and PR services by any parties. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.FinancialBuzz.com.

Media Contact:

info@financialbuzz.com 
+1-877-601-1879
Url: http://www.FinancialBuzz.com

SOURCE FinancialBuzz.com