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Weekly Recap: $BNTX, $AVYA and $VMEO

The Good:


Shares of the Covid-19 vaccine maker took off, vaulting almost 15% as it exceeded quarterly expectations. During a press release, the vaccine producer announced it, alongside its partner Pfizer, had shipped nearly a billion doses of the Covid-19 vaccine to date. In addition, it’s signed contracts to deliver 2.2 billion doses this year. Revenues from those 2.2 billion doses will total $18.7 billion. The team of BioNTech and Pfizer now expect to be able to produce 4 billion doses next year. Earnings were $12.67, absolutely blowing past Wall Street’s estimate of $8.87 a share. The company almost doubled Wall Street’s expected sales as well. The company touted that a booster shot would help curb the current variants of the virus, while it is prepared to modify its vaccine for variants that could, in theory, beat the current immune response activated by the shot. The Covid-19 vaccine remains effective against all of the current Covid-19 variants, including the much-talked about Delta.

The Bad:


Avaya, a leader in providing contact-center software and unified communications services posted solid June quarter results, but it wasn’t enough to satisfy Wall Street. The stock fell nearly 5% today and is down 32% since peaking in February. During its third fiscal quarter, Avaya saw a 2% increase of revenue and saw non-GAAP profits which exceeded both management’s forecast and Wall Street’s call. As the company moves its services to a cloud model, it’s seeing a boom in cloud business, which was up 275% from a year ago. The company expects its cloud business to grow from its current $425 million to $1 billion by the end of 2022. While Avaya posted some strong numbers, expectations outweighed the good, causing the stock to slip.

The Ugly:


Video streaming service and counter to YouTube Vimeo collapsed today after the company reported weak second-quarter earnings. The stock was down as much as 17.1% on the news today. Vimeo reported an earnings per share loss of $0.13, over double the $0.05 analysts were expecting. The company is also hampered by a backwards trend in subscriber and revenue growth—the company’s revenue grew 46% in April, but has fallen consistently since that peak. However, the stock still saw total revenue grow 43% year over year. Vimeo also generated $18 million in free cash flow during the quarter. While the stock faced a tough day, some analysts believe the stock is still potentially appropriately priced.

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