Party City, Live Sports Streaming Services, and Government Contractors Clean Up in Earnings
Party City is celebrating an impressive second quarter, fueled mainly by double-digit digital sales. The company also reported Halloween brought in greater-than-expected results, suggesting that some people may not have followed stay-at-home orders even as COVID-19 numbers rise. $PRTY is up 20.9% today. Cable television has fallen out of fervor over the last few years in favor of over-the-top streaming alternatives. FuboTV, which has its crosshairs fixated on live sports, hit its stride in trading today. They rose 14.4% after their third quarter earnings. The company has been growing their subscription business and advertising revenue; however, the big gap up in $FUBO also comes as the company acknowledges their intention to make a move into online sports wagering. Palantir Technologies, which IPOed at the end of September, has doubled in just several weeks. There’s a lot of money in government contracts, defense, and enterprise data. However, that money is at the center of the company and some of its founders (*cough* Peter Thiel) have been the center of a discussion about whether its core business is ethical. Regardless, prominent hedge fund investors are picking up shares, and shares of $PLTR are rising to the tune of double-digits.
Party City Holdco, through its subsidiaries, designs, manufactures, sources, and distributes party supplies in the United States and internationally.The company operates in two segments, Retail and Wholesale. It offers paper and plastic tableware, metallic and latex balloons, Halloween and other costumes, accessories, novelties, gifts, and stationery.As of August 8, 2019, the company operated approximately 900 specialty retail party supply stores, including franchise stores throughout North America under the Party City and Halloween City names, as well as e-commerce Websites principally through the domain name PartyCity.com.Party City Holdco Inc. offers its products through company-owned stores, independent party supply stores, mass merchants, grocery retailers, and dollar stores.It was founded in 1947 and is headquartered in Elmsford, New York. (From: StockAnalysis.com)