US Initial Jobless Claims Hit Lowest Since 1969

Initial jobless claims continue to fall. Americans filing for unemployment benefits fell to the lowest level of initial claims since November 15, 1969. The labor market continues to recover from the coronavirus economic burdens. Initial claims by 71,000 to 199,000 in the week ended November 20th. Demand for workers remains strong as the economy rebounds. US initial jobless claims and continuing claims for current week Initial jobless claims 20 Nov 199K vs 265K estimate. Prior week 268k revised to 270k … Continue reading “US Initial Jobless Claims Hit Lowest Since 1969”

US Jobless Claims Hit New Pandemic Low

Americans filing for unemployment benefits fell to a new pandemic low as the labor market continues to slowly recover from the coronavirus economic burdens. Initial claims by 1K to 268K in the week ended November 13th. Demand for workers remains strong. However claims remain above the 2019 weekly average of 218K.  US initial jobless claims and continuing claims for current week Initial jobless claims 12 Nov 268K vs 260K estimate. Prior week 267k revised to 269 This is the lowest … Continue reading “US Jobless Claims Hit New Pandemic Low”

Micron Earnings Beat on DRAM Bit Shipments But Lowers Guidance on Chip and China Headwinds

Memory chip maker Micron reported better than expected earnings after the close Tuesday but lowered guidance sending $MU 4% lower. Strong DRAM bit shipments for the cloud, graphics, PC and notebook, 5G and automotive markets was anticipated.

Atlassian Breaks Over $US100 billion Market Cap Rewarding Australian Founders TEAMwork

Australian project management software company Atlassian’s sharemarket value has broken through the $US100 billion mark, trading on the NASDAQ under the symbol TEAM. the move lifted the personal wealth of its Australian founders to over $US23 billion each. Remote work in the pandemic has beena boon for the company.

Zoom Video Lower Earnings Guidance as Stay at Home Demand Eases

Leading video conferencing software company Zoom Video Communications reported better than expected fiscal second-quarter earnings, but the guidance sent shares plunging more than 9% in after-hours trading. Investors will want to hear updates on the Five9 transaction.

Groupon Loses Less Than Forecast as It Recovers Quicker Than Expected

Online marketplace company Groupon reported better than expected first quarter earnings after the close Tuesday. $GRPN said that recent performance trends indicate the company is recovering more the Covid lockdown more quickly than expected.

Zuora Cloud Based Subscription Management Revenue Grows on Stay at Home Demand

Leading cloud-based subscription management platform provider Zuora reported better than expected earnings and guided higher with stay at home demand from the COVID lockdown during its fiscal first quarter on Wednesday, $ZUO stock rose on 20% the report