Unity Software shares dip on Q3 results, rebound Friday

Unity Software Inc.’s stock initially slipped more than 6% in after-hours trading Thursday after the maker of video-gaming software reported fiscal third-quarter results. The stock, however, rebounded Friday, rising 13%.

Unity
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+12.80%
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which went public in September, reported a net loss of $144.7 million, or 97 cents a share, compared with a net loss of $45.8 million, or 76 cents a share, in the year-ago quarter. The company reported a non-GAAP net loss per share of 9 cents.

Revenue soared 53% to $200.8 million from $130.9 million a year ago.

“We have big ambitions” beyond traditional gaming and into markets such as industrial, automotive, and entertainment, Unity Chief Executive John Riccitiello said during a Zoom
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-5.84%

call with analysts following the results announcement.

“Growth is coming across the board,” Unity Chief Financial Officer Kim Jabal told MarketWatch. She said the company continues to see expanded use in

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Stimulus checks and child support: How the IRS lets some parents ‘double dip’ for $500 each

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Stimulus checks for dependents were rife with issues, with some parents receiving no payment and other parents each getting $500 for the same child.


Angela Lang/CNET

While a second stimulus check is still being bandied around, awaiting resolution, you may still have questions about the finer points of the first payment, specifically how it allotted up to $1,200 per individual adult and $500 per “child” dependent. The eligibility rules concerning dependents are complex, especially for parents who are in child support situations. Knowing the nuances is important to making sure you got the right amount of money in the first check, anticipating how much you could get in the second and explaining if you didn’t get any stimulus money at all, even if you seemingly met all the qualifications.

See, child support situations have specific rules involving parents who owe support payments and those who

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Shares Dip To September Levels

Apple stock has drifted lower. After shares reacted well to the iPhone 12 announcement, last week, they began a steady descent to late September levels. Between the close on October 16 and October 23, Apple was down about -3.3%.

No one specific factor or development seems to have pushed Apple lower in the past five trading days. With current-year P/E of 35 times still looking a bit rich and the stock still up about 90% in the past 12 months, investors might have been more inclined to lock in gains ahead of earnings week.

The FAAMG ex-Apple group, on the other hand, performed much better: 1.8% for the week. The S&P 500 sat between Apple and the rest of Big Tech, down 0.5%. The graph below summarizes this week’s price action.

Bull drivers

The best day of the week for Apple was Tuesday. On every other day, shares

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Cathie Wood’s Internet ETF Sells Some Tesla, Xilinx, Buys The Dip In Fastly

One of the top-performing ETFs of the year bought the dip in Fastly Thursday.



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What Happened: After pre-announcing third quarter earnings, Fastly Inc (NYSE: FSLY) saw shares drop 30% after-hours on Wednesday.

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That dip led to the opportunity for the Ark Next Generation Internet ETF (NYSE: ARKW) to take a stake in the company.

The Ark Next Generation Internet ETF, led by Cathie Wood, bought 304,300 shares of Fastly. This represents a current stake of $27.3 million, around 1% of the fund’s assets.

The fund also bought small amounts of Palantir Technologies (NYSE: PLTR) and Zoom Video Communications (NASDAQ: ZM) on Thursday.

The ETF sold part of its stake in Tesla Inc (NASDAQ: TSLA), which is its top holding.

The Next Generation Internet ETF is known for its bullish take on the electric vehicle maker, and the stock has been the ETF’s top holding

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