We share weekly commentaries with investors on stocks in our strategies that have appreciated or dropped more than 15% in a day during the course of the week. We hope you find this commentary useful.
Iridium (IRDM) traded up more than 15% on Monday following rumors that Apple’s new iPhone will use a satellite connection to enable emergency calls and texts when cell service is not available. Iridium discussed this capability at its analyst day, but rumors suggest that Globalstar is the frontrunner to become Apple’s satellite service provider.
Yeahka (9923 HK) traded up 16% on Wednesday after releasing interim results that beat expectations for the six months ended June and attributing its growth to the “recovery of China’s real economy in the first half of 2021” and the success of newer technology-enabled business services that complement its payment product. Yeahka is a payment and software provider for small and medium sized businesses in China.
Zoom (ZM) traded down more than 16% on Tuesday after reporting earnings that pointed to a deceleration in the growth of its core Meetings product in the SMB/individual segment. That said, revenues increased a better than expected 54% on a year over year basis against the blistering 355% surge during the depths of the coronavirus crisis last year, and the number of customers with more than 10 employees increased a further 36%. Meanwhile, with roughly 2 million seats, Zoom Phone is gaining momentum while, with its acquisition of Five9, Zoom plans to expand horizontally with its own front-end UCaaS (Unified Communications as a Service) ecosystem. While higher churn from lower-end markets is not surprising as the global economy reopens, Zoom is likely to overcome that slowdown with share gains in the massive enterprise segment as it evolves the most technologically advanced offering for video conferencing and PBX. Zoom is a leader in cloud communications, providing solutions for video conferencing, voice, and chat worldwide.