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

Barry Adams
10 Jun, 2022
New York City

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.