Weekly Digest 5/6/22
Happy Friday, May 6!
Hope you all had a great Week 6. Please find below our SWS-curated round-up of interesting articles, resources, information, and opportunities related to real-world finance that may be useful to you!
As the world gradually returns to normal, travel has rebounded and Airbnb revenues have increased 70%. Bookings on Airbnb hit a new high thanks to a resurgence of travel and increasing host rates due to inflation. Airbnb’s share rose more than 5% in after-hours trading after it announced the earnings results.
Moderna had $5.9 billion in COVID-19 vaccine sales in Q1, over triple that of the same period last year. The biotech company’s shares soared by more than 7% in premarket trading Wednesday before falling. CFO David Meline said there is uncertainty in the 2022 sales guidance due to ambiguity on the necessity for additional doses.
Uber’s Q1 revenue more than doubled YoY as demand for rides rebounded from the COVID-19 downturn and the company’s food delivery grew despite restaurant reopenings. However, the stock price fell after Lyft warned of increasing driver costs.
Elon Musk has told potential investors that he plans to stage an IPO of Twitter in as little as three years of buying it, after fixing the company’s problems. He has agreed to take Twitter private in a $44 billion deal.
Shares of Etsy, Shopify, Wayfair, Poshmark, and a number of other e-commerce retailers fell Thursday. E-commerce transactions have declined 1.8% from a year ago, while in-store sales rose 10%, Mastercard SpendingPulse said in a new report. These changes may be due to a combination of factors, namely the return of in-person shopping post-pandemic as well as a reduction in consumer spending due to inflation.
Enjoy the weekend!
Cheers,
SWS Investment Committee