PayPal Rise, Airbnb Fall and More: Wednesday 5 Things to Know

Here are the main events that will take place on Wednesday It can affect trading.

PayPal: Shares are up more than 10% in pre-market trading. The online payments company has entered into an information sharing agreement with activist investor Elliott Investment Management to evaluate alternatives to return on capital.

PayPal has also appointed Blake Jorgensen as Chief Financial Officer. In addition, Mark Brito, Chief Product Officer, will retire at the end of the year. The search is on for his successor.

Family credit card debt surgeries in the second quarter, the highest jump in more than 20 years

PayPal reported net revenue of $6.8 billion, a 9% year-over-year increase in the second quarter and a net loss of $341 million, or 29 cents per diluted share. Last year, the company reported net income of $1.18 billion, or $1.00 per diluted share.

PayPal Holdings shares are trading higher ahead of the Wednesday session. (Reuters/Amir Cohen/file photo/Reuters Photo)

EARNB: The vacation rental company’s shares fell more than 7% in pre-sale trading after the company released a weaker-than-expected outlook that overshadowed the otherwise strong results. The company reported revenue of $2.1 billion in the second quarter, up 58% year over year and 73% higher than the second quarter of 2019. The number is in line with Wall Street estimates. Airbnb expects third-quarter revenue to come in at $2.78 billion to $2.88 billion, above analysts’ estimates of $2.77 billion, according to Refinitiv IBES. The company also announced that it will buy back up to $2 billion of its stock.

AIRBNB sees 30% more nights booked for summer travel compared to before the pandemic

CVS leads a large number of health-related companies that announce their earnings

A CVS pharmacy sign appears in Mount Lebanon, Pennsylvania. (AP Photo/Gene J. Puskar/AP Newsroom)

gains: Another busy day ahead for profit, with a big focus on healthcare. CVS Health, AmerisourceBergen, Moderna and Regeneron Pharmaceuticals report before the opening bell. Some of the major insurers will report in the afternoon, including Met Life and Allstate. Also see MGM Resorts, Hotels and Casinos, online auction company Ebay, and home product maker Clorox to name a few.

Waitress working in the service sector

Close-up of a woman working in a restaurant as a waitress and holding a notebook (iStock / iStock)

New York City restaurants struggle to turn profits before the pandemic

Economic data: The Institute for Supply Management releases its non-manufacturing PMI for July. This important measure of service sector activity is expected to decline for the fourth consecutive month to 53.5, the lowest level since May 2020. Remember that any reading above 50 indicates service sector expansion. Also, the Commerce Department is expected to say that manufacturing orders jumped 1.1% in June, trailing May’s 1.6% increase.


Inventory Report: The Energy Information Administration will release its inventory report last week. Crude oil inventories are expected to fall by more than 600,000 barrels, after a sharper-than-expected drop of 4.523 million barrels in the previous week. Watch the build of just over 1 million barrels in distillate supplies (heating oil and diesel fuel), and the pull of over 1.6 million barrels in gasoline stocks.

#PayPal #Rise #Airbnb #Fall #Wednesday

Leave a Comment

Your email address will not be published.