What to Watch Thursday: Peloton, Casper and Qualcomm

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This morning we’re going to go over Peloton’s  (PTON) - Get Report earnings, Qualcomm  (QCOM) - Get Report and of course, Casper, which will go public later this morning.

Peloton

Well, investors were disappointed in the company’s earnings--which were released after the bell Wednesday night.

In premarket trading, the stock was down around 8%.

Peloton beat analyst expectations, posting a loss per share of twenty cents, which was a smaller loss than what analysts were expecting at 36 cents a share.

Revenue came in at $466 million, beating the expectations for $422 million.

So, what’s leading to the decline in after hours trading?

Guidance.

The company said that it expects third-quarter revenue to come in between $470 to $480 million. Analysts are looking to see revenue of $494 million.

But analysts over at Stifel aren’t sharing in the sell attitude.

In a note put out early Thursday morning, Stifel analysts actually increased their price target--by a dollar--to $38 and reiterated their buy rating.

Stifel says it is encouraged by the company’s ability to drive engagement across new and existing product offerings.

They also said they, “remain supportive of the company’s investments in content development and new markets.”

Qualcomm

Qualcomm is just the latest company to discuss how the coronavirus could impact them in their conference call.

They join companies such as Tesla, Starbucks, Ralph Lauren, Disney, and Nike to warn about possible impacts from the virus, which has around 60 million people under lockdown in China.

Qualcomm posted stronger-than-expected earnings after the bell Wednesday.

However, the beat was overshadowed by its virus warning.

Qualcomm said that the coronavirus could have a material impact on its near-term profit forecasts and disrupt global smartphone demand and supply chains.

But there’s always a silver lining.

Even if the virus slows the rollout of 5G in China, Qualcomm said its chips will still find demand in markets such as Korea, Japan and the United States.

Casper

The company will go public on the New York stock Exchange later Thursday.

Casper priced at the low end of the range, at $12 a share, Thursday night.

The company had lowered its price range to $12 to $13 from $17 to $19 in an SEC filing earlier this week.

As it prepared to enter the public markets, Casper, which had been thought of as a unicorn (meaning it had a billion-dollar valuation), lowered its valuation to half that, to $500 million.

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