UBER - Stock Markets Defy Earnings Pressure From Alteryx Uber
The stock market has been incredibly resilient in recent months, bouncing back convincingly from its abbreviated bear market earlier in 2020. Earnings season has generally gone well over the past several weeks, but even when some high-profile companies haven't been able to make the grade, the impact on the overall market has been minimal. Just before 11 a.m. EDT Friday morning, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 48 points to 27,339. The S&P 500 (SNPINDEX: ^GSPC) actually gained a fraction of a point to 3,349, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) was also close to unchanged at 11,108.
Many investors have benefited during the rally from stocks with strong prospects for future growth. However, some have feared that those highfliers have gotten ahead of their fundamental business performance, and that seemed to be the story for software-as-a-service (SaaS) favorite Alteryx (NYSE: AYX) on Friday morning. In addition, Uber Technologies (NYSE: UBER) wasn't able to satisfy its shareholders that it's on track to recover from coronavirus-inspired difficulties. Below, we'll look more closely at the latest reports from these popular stocks.
Shares of data analytics platform provider Alteryx plunged 27% Friday morning. The move followed the company's second-quarter financial report, which failed to live up to the extremely high expectations that investors had for the company.