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MarketWatch MarketPulseAug 03, 2020
: RingCentral falls despite beating expectations
RingCentral Inc. RNG shares fell in the extended session Monday even though the enterprise cloud communications company reported results that beat expectations. The Belmont, Calif.-based company's shares fell 1.5% in after-hours trading, after a 5.4% gain in the regular session to close at $305.36. The company reported second-quarter net income of $509,000, or 1 cent a share, versus a loss of $9.2 million, or 11 cents a share, in the year-ago period. Adjusted earnings were 24 cents a share after adjusting for higher share-based compensation and amortization of intangibles. Revenue rose to $278 million from $215 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of 20 cents a share on revenue of $264 million. RingCentral shares are up 81% year to date, while the S&P 500 Index SPX is up 1.25% so far.

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: RingCentral stock falls despite beating earnings expectations (MarketWatch MarketPulse)

MarketWatch MarketPulseAug 03, 2020
Airlines stocks reverse higher after TSA data shows bounce in traveler demand to snap a 2-week dip
Airline stocks turned mostly higher Monday, after U.S. Transportation Security Administration (TSA) showed that travel demand rebounded, to snap a two-week pullback. The U.S. Global Jets ETF rose 0.8% in afternoon trading, reversing an earlier loss of as much as 1.8%. Among the more active air carriers, shares of American Airlines Group Inc. rose 0.1%, United Airliens Holdings Inc. climbed 2.0%, Delta Air Lines Inc. advanced 1.5%, Spirit Airlines Inc. slipped 1.9%, JetBlue Airways Corp. lost 2.5% and Southwest Airlines Co. tacked on 2.6%. The daily average number of travelers going through TSA checkpoints for the week ended Sunday was 686,360, according to a MarketWatch analysis of TSA data, up from 660,931 for the week ended July 26, which was down from 664,022 for the week ended July 19. Before that, the daily average had increased for 12 straight weeks since bottoming at 97,799 for the week ended April 19. And on Sunday alone, 799,681 travelers went through TSA checkpoints, the most in one day since March 17, which was soon after the COVID-19 pandemic-related lockdowns began. The Jets ETF has tumbled 50.6% year to date, while the S&P 500 has edged up 2.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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