Movers: Angi, CME Group, DocuSign, Netflix, Rent the Runway, Stitch Fix

  • Barry Adams
  • U.S.A. New York City
  • Jun 10, 2022
  • DocuSign plunged after quarterly results were weaker than expected. Rent the Runway quarterly sales doubled. Stitch Fix sales declined and said it plans to trim its workforce by 4%. Netflix dropped after Goldman Sachs lowered the stock price target.

    Angi Inc traded nearly unchanged at $5.10 after the home services listing portal said May ad and listing revenues jumped 26% in North America and declined 6% in Europe. Total revenues increased 24%.    

    Service requests on the portal declined 7% from a year ago. 

    CME Group added 1.8% to $201.50 after Atlantic Equities upgraded the exchange operator's stock to "overweight" from "neutral" and highlighted that the current price offers attractive investment opportunity and strong operating fundamentals. 

    DocuSign Inc plunged 25.3% to $65.21 after the online contract verification and management company reported weaker-than-expected quarterly results. 

    Revenues in the first quarter increased 25% to $588.7 million and net loss tripled to $27.4 million from $8.4 million a year ago. Diluted loss per share jumped to 14 cents from 4 cents a year ago. 

    The company had warned of slower growth after the pandemic era restrictions were lifted and return to office work changed the market environment. 

    Netflix Inc declined 4.9% to $192.77 after Goldman Sachs downgraded the streaming service provider's stock from "neutral" to "sell" and cut its price target to $186 from $265. 

    The brokerage firm cited a number of reasons including lower investor's appetite for businesses with longer-term investment, rising competition, and declining new subscriber growth prospects in the U.S. 

    Rent the Runway Inc jumped 7.7% to $3.80 after the online style provider said fiscal 2022 first quarter surged 100% to $67.1 million and net loss shrank 63% to $42.5 million. 

    Active customers increased 70% to 177,200.  

    Stitch Fix Inc dropped 16.04% to $6.53 following a decline of 15% in previous session after the company reported fiscal 2022 third quarter revenues declined 8% to $492.9 million and net loss of $78 million or 72 cents a share. 

    The style company said the total number of active clients declined 5% to 3.9 million and net revenues per active clients increased 15% to $553.  

    Separately, the company said it has laid off about 4% of its workforce, including 15% of its salaried positions and plans to take a one-time charge of $15 million to $20 million in the fourth quarter.   

Annual Returns

Company Ticker 2024 2023 2022
DocuSign Inc. DOCU -2% 10% -65%
Rent the Runway Inc. RENT -39% -83% -62%
Signet Jewelers Limited SIG -22% 56% -21%
CME Group Inc CME -8% 16% -21%
ANGI Homeservices Inc ANGI -7% 17% -77%
Stitch Fix Inc. SFIX 32% -9% -79%
Vail Resorts Inc MTN -15% -18% -20%