ThredUp soars on Q2 earnings beat and record quarterly revenue

ThredUp surged 8% in after-hours trading Monday after the online resale platform posted stellar Q2 earnings results.

Losses per share came in at $0.04, slightly ahead of the $0.05 loss analysts polled by FactSet were expecting. Revenue came in at a quarterly record of $77.7 million, up 16% from a year ago and well ahead of Street estimates of $73.8 million and the the company’s previous guidance of $72.5 million to $74.5 million.

The stock has soared over 500% in the past 12 months, buoyed largely by growing millennial and Gen Z demand for secondhand apparel and broader retail interest in sustainable fashion.

In an interview with Sherwood News, CEO James Reinhart said the company has benefited from being “laser-focused” on the US market and leveraging AI both under the hood and in customer-facing features.

Prior to the earnings move, ThredUp shares were up 586% year to date.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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