Shares of Uber Technologies (UBER) are sliding again on lockup expiration.
Today is the first day insiders can sell the stock. However, the expiration may not be as volatile as many expected. That’s because a good deal of shareholders are now underwater. After peaking just over $46 in July 2019, the stock has done nothing but fall.
It last traded at $26.29.
Just yesterday, the company reported a third quarter loss of $1.16 billion, or 68 cents a share, as compared to a $986 million loss year over year. Revenue did improve 30% to $3.81 billion from $2.94 billion year over year. Analysts were looking for a loss of 70 cents on revenue of $3.63 billion. For the year, Uber has now lost $7 billion.
Five9 Inc. (FIVN)
Shares of FIVN are up nearly 10% after reporting 28% revenue growth to $83.8 million.
“We delivered strong third quarter results. Revenue of $83.8 million grew 28% year-over-year and was driven by our Enterprise business, which delivered 36% growth in LTM Enterprise subscription revenue. More than ever before we are seeing that enterprises have learned to trust the cloud, and company leaders recognize that transforming their customer service experience is a necessity,” said CEO Rowan Trollope, as noted in the company’s press release.
“As increasingly larger enterprises have begun to demand cloud contact centers, we have responded by hiring more engineers and scaling our team, resulting in a substantial increase in throughput and innovation. In the third quarter we maintained our strong momentum in strengthening the channel, and made excellent inroads expanding internationally. Overall, our balanced approach to growth is succeeding, and we believe the investments we have made in leadership and talent position Five9 for sustained long-term growth,” he added.
Going forward, the company expects for revenue to fall in a range of $321.7 to $322.7 million, up from the prior guidance range of $312.5 to $314.5 million. For the fourth quarter, it expects revenue in a range of $86 million to $87 million.
Coty Inc. (COTY)
Coty is up nearly 12% after posting its first profit in seven quarters. Unfortunately, it did struggle with sales expectations. It reported net income of seven cents as compared to a year-earlier loss of two cents. Sales did fall 4.4% to $1.94 billion thanks to a 9% drop in North American sales. Analysts were looking for $1.97 billion.
