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Friday's Hottest Trades Post-Earnings

Credit provider Affirm (AFRM) is the stock to avoid today after shares fell by 12.4% in after-hours trade. The buy now, pay later supplier lost 65 cents a share (GAAP) even after revenue increased by 47.9% Y/Y to $591.1 million.

Affirm processed more than $25.25 in gross merchandise volume but the 65 bps increase as a percentage of GMV is too low. Risks are rising that Affirm’s customers, who have low credit quality, will default on their debts.

Pinterest (PINS) fell by 9.1% on Thursday night after posting revenue growing by 11.8% Y/Y to $981 million. Its Q1/2024 revenue guidance of $690 million to $705 million is within analyst estimates. However, Pinterest is increasing its operating expenses by 9% to 13%. Investors wrongly thought that the announcement of becoming Google’s new global ads partner was a fundamental change. Regulators may weaken Google’s global dominance. It may examine all of Google’s partnerships.

Companies reporting quarterly results this morning include Canopy Growth (CGC), a troubled cannabis firm, Enbridge (ENB), a pipeline, and AMC Networks (AMCX). Pepsi (PEP), a food and beverage giant, will also attract investors after posting results.