Get Back To Work!
“Thank you for reaching out to your readers for their input and opinions,” says a military wife and mother of four.
“What I care most about right now is getting our economy back in business. The longer we are shut down, the more Americans suffer. Getting back to work is long overdue.
“Plus, my school-age children are suffering, not being able to get back on campus; it’s causing social, emotional and psychological stress — not to mention learning gaps! My older children are suffering as jobs are evaporating daily, along with their hopes and dreams for the future.
“Certain realities exist now (transmission of the coronavirus) that have closed doors to recent college graduates and young people in general. Should it stay that way indefinitely? For this reason, and many more, I say: IT’S TIME FOR AMERICA TO GET BACK TO WORK!
Along those same lines, a reader says: “I would like to see people who are at the top treat those less fortunate with more consideration.”
I don’t know about you, but the thought has crossed my mind: it’s easy for millionaire (and even billionaire) politicians to call for indefinite pandemic shutdowns.
When their bank accounts are stuffed, when their pensions are guaranteed and when they don’t have to worry about health care… they’ve got all day. But what about the rest of us?
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Monday, Aug. 31, 2020…
From IPO… to Half the Market Share in 1 Year
The videoconferencing platform Zoom Video Communications Inc. (ticker: ZM) became a household name — if not a verb — for millions of new users because of the pandemic.
And in June, Zoom experienced “one of the biggest blowout earnings reports in history,” according to Market Watch.
Will the company announce another exceptional earnings report this afternoon? Is it even realistic to expect Zoom to shatter its previous report when “profit roared more than ten times higher, revenue exploded with 169% growth, and the company doubled its expectations for full-year sales.”
While we don’t think that expectation is realistic, it doesn’t mean ZM shares have topped out yet, even after shares gained over 17% in August alone.
Morgan Stanley analysts say: “In general, we think that buy-side expectations for FQ2 (~30% beat) can be achieved and that the company will have flexibility to guide down slightly or flat sequentially, creating little risk heading into the quarter.” The same analysts increased their price target from $190 to $240 per share.
A tailwind for Zoom? The company continues “to nab customers from competitors, [and] Zoom may already have the largest share of the videoconferencing market. JP Morgan analysts reported on July 31 that Zoom has now captured roughly half of the videoconferencing market just more than a year after its initial public offering.”
That’s stunning growth for a company in such a short time. As for how ZM shares responded immediately after two previous earnings announcements in 2020, shares bounced about 7% each time.
Market Rundown for Monday, Aug. 31, 2020
S&P 500 futures are up 3.25 as we write, at 3,507.
Oil’s up slightly at $43.28.
Gold is off $5.50 this morning at $1,969.
Bitcoin’s taking a breather this morning, going for $11,688.
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It’s the last day of August — make it a good one!
For the Rundown,