Party City, Live Sports Streaming Services, and Government Contractors Clean Up in Earnings
November 18, 2020
Party City is celebrating an impressive second quarter, fueled mainly by double-digit digital sales. The company also reported Halloween brought in greater-than-expected results, suggesting that some people may not have followed stay-at-home orders even as COVID-19 numbers rise. $PRTY is up 20.9% today.
Cable television has fallen out of fervor over the last few years in favor of over-the-top streaming alternatives. FuboTV, which has its crosshairs fixated on live sports, hit its stride in trading today. They rose 14.4% after their third quarter earnings. The company has been growing their subscription business and advertising revenue; however, the big gap up in $FUBO also comes as the company acknowledges their intention to make a move into online sports wagering.
Palantir Technologies, which IPOed at the end of September, has doubled in just several weeks. There’s a lot of money in government contracts, defense, and enterprise data. However, that money is at the center of the company and some of its founders (*cough* Peter Thiel) have been the center of a discussion about whether its core business is ethical. Regardless, prominent hedge fund investors are picking up shares, and shares of $PLTR are rising to the tune of double-digits.