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ZM

Can a hybrid work environment boost Zoom's FQ2 results?

Sundry Photography/iStock Editorial via Getty Images After reporting a strong FQ1, Zoom Video Communications (NASDAQ:ZM) is scheduled to announce FQ2 earnings results on Monday, August 30th, after market close. The consensus EPS Estimate is $1.16 (+26.1% Y/Y) and the consensus Revenue Estimate is $990.27M (+49.2% Y/Y). Analysts expect free cash flow of $374.1M. Over the last 2 years, ZM has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time. Over the last 3 months, EPS estimates have seen 18 upward revisions and 2 downward. Revenue estimates have seen 16 upward revisions and 0 downward. Shares moved -0.14% on June 1, when Zoom reported a 191.4% Y/Y jump in revenue for $956.24M for FQ1, beating analysts' estimates by $48.07M. Non-GAAP EPS was $1.32, beating the consensus by $0.34. The number of customers contributing more than $100,000 in TTM revenue surged 160% Y/Y. At the time of its Q1 results announcement, Zoom guided Q2 revenue between $985M and $990M and Non-GAAP diluted EPS between $1.14 and $1.15. A recent analysis by an SA contributor was very bullish on the stock for the long term, suggesting a large addressable market for the company to tap with a likely need for remote communication software. On August 26, Morgan Stanley upgraded the Zoom's shares to overweight from equal-weight citing its stronger positioning heading into the second half of the year. However, the company was seeing lower-than-usual trading volume in the middle of the month, pulling shares down. Shares climbed earlier in August, benefitting from the possibility that many businesses will continue to push back plans for workers to return to the office. July too was a significant month for Zoom, which agreed to acquire cloud contact center provider Five9 (NASDAQ:FIVN) in an all-stock deal valuing the latter at ~$14.7B. Zoom also launched its Zoom Apps and Zoom Events services on July 21. In June, Zoom also signed an agreement to acquire real-time machine translation service provider Kites for undisclosed terms.

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Zoom to tap Seagate Lyve Cloud to store meeting recordings

Teleconferencing firm Zoom (ZM -16.2%) has signed a multiyear deal with Seagate Technology Holdings (STX +0.9%) to tap the latter's Lyve Cloud to store meeting recordings. Under the upcoming arrangement, Zoom customers will have the option to save meeting recording files on the Seagate S3 storage-as-a-service platform. Lyve Cloud is an always-on edge-to-cloud mass storage solution, and the agreement covers a single Silicon Valley cloud location. Other site options will also be explored. Seagate’s Ravi Naik, Executive Vice President of storage services and Chief Information Officer, said, "We made cloud economics simple and predictable regardless of the high volume of meetings recorded or the number of times viewed. Lyve Cloud charges no API fees and egress fees, and our always-on storage means Zoom users can view their recordings when they need to."

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Zoom shares nosedive 16% as Wall Street slams company's outlook

fizkes/iStock via Getty Images Zoom Video Communications (NASDAQ:ZM) shares plunged Tuesday as a record-setting revenue report couldn't keep Wall Street from turning its back on what was viewed as a disappointing outlook from the meeting technology company. Zoom (ZM) fell more than 16%, to close at $289.50 a share, after the company said late Monday that it expects third-quarter sales to be between $1.015 billion and $1.02 billion, and earnings excluding one-time items of $1.07 to $1.08 a share. That outlook failed to excite investors, as analysts had earlier forecast the company to report $1.01 billion in sales and earnings of $1.09 a share for its third quarter. And it was that outlook that gave some skepticism to the Zoom story, as concerns grew about its ability to maintain business levels that it has reached during the COVID-19 pandemic as millions of businesses sent employees home to work remotely. "We still believe Zoom is a very good franchise, with a tremendous amount of growth in the future," said J.P. Morgan analyst Sterling Auty, in a research note. "But, we expect the market will need to rationalize a different level of growth post-pandemic." Auty holds a neutral rating and $385-a-share price target on Zoom's stock. Stifel analyst Tom Roderick echoed Auty's comments, saying that effects of the pandemic and its eventual aftermath make year-over-year comparisons for Zoom "as tricky as ever". Roderick left his hold rating on the company's stock unchanged, but cut his price target to $350 a share from $450 due to what he called "multiple compression and slowing growth." However, Roderick said he thinks Zoom's (ZM) business is continuing to evolve in a positive manner, and cited the company reaching 2 million Zoom Phone users in its second quarter, just three months after hitting 1.5 million such users in its first quarter. Still reaction to the company's outlook was severe in the context of how its second-quarter results turned out. Zoom (ZM) said that for the quarter ending July 31, it earned $1.36 a share, on $1.02 billion -- the first time its quarterly sales topped $1 billion. And the company said business with larger customers continued to improve. According to Zoom, the number of customers contributing more than $100,000 in trailing 12-month revenue increased 131% on the year to 2,278, while it reported 504,900 customers with more than 10 employees, a 36% increase from a year ago. Zoom (ZM) wasn't alone in getting pummeled Tuesday. Five9 (NASDAQ:FIVN), which Zoom recently said it would acquire for $14.7 billion in stock, saw its shares dive by more than 14% due to the company's ties to Zoom.

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Zoom CFO: We're seeing a post-COVID transition

Alistair Berg/DigitalVision via Getty Images Kelly Steckelberg, CFO of video conference provider Zoom (NASDAQ:ZM), said Tuesday that the company was going through a post-COVID "transition period," a fact that tempered its guidance for Q3 and lead to a double-digit percentage decline in its stock price. Speaking to CNBC, Steckelberg reported that it has seen a drop-off in business from small customers -- individuals or companies with fewer than 10 people. She said these "headwinds in our mass market" impacted the firm's Q3 forecast. However, Steckelberg noted that ZM has seen "lots of strength" from its larger enterprise client base. Zoom (ZM) reported Q2 earnings and revenue that beat expectations, with a top-line figure that rose 54% from last year to top $1B for the first time. However, shares dropped 14% in pre-market action as the company's Q3 profit forecast came in below the amount predicted by market analysts. Steckelberg explained that smaller customers have always represented a volatile factor in its financial results. However, the pandemic drove a large number of these clients to the video conferencing product, making them a larger part of the firm's revenue base. She said this category now represented 36% of total revenue, compared to about 20% before the pandemic. The Zoom CFO noted that the firm started to "see additional churn" in this segment towards the end of Q2 and took the trend into account when it issued guidance. Steckelberg pushed back on the idea that the company was losing ground to competitors, attributing the firm's guidance strictly to the changing market in the post-COVID economy. "We haven't really seen significant changes in the competitive environment," she said. ZM fell $50.69 in pre-market action to trade at $296.81. An open at these levels would take the stock to its lowest point since May.

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Five9 shares slump 15% after Zoom's outlook disappoints

Alistair Berg/DigitalVision via Getty Images It was a case of guilt-by-association Tuesday, as Five9 (NASDAQ:FIVN) shares slumped more than 15% on reaction to Zoom Video Communications' (NASDAQ:ZM) disappointing third-quarter forecast. Last month, Zoom agreed to acquire Five9 in an all-stock deal valued at $14.7 billion. Zoom, one of the highest flying stocks during the Covid-19 pandemic, reported second-quarter results yesterday that topped Wall Street estimates for revenue and profit, but its guidance suggested a slowdown could be coming. Zoom (ZM) said that it expects its third-quarter earnings to be between $1.07 and $1.08 a share, which missed analysts forecasts for a profit of $1.09 a share. Wall Street reacted to the outlook by driving Zoom's (ZM) shares down 16% out of the gate on Tuesday. The companies requested a streamlined Federal Trade Commission review of their proposed tieup, but the FTC denied that request on Monday.

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Zoom stock drops 11% after-hours as soft outlook disappoints

Sundry Photography/iStock Editorial via Getty Images Zoom Video Communications (NASDAQ:ZM) shares slid as much as 11% in after-hours trading Monday as the company's third-quarter forecast suggested a growth slowdown is in the works as people return to the office and students go back to school. For the third quarter, the company expects revenue to come in between $1.015 billion and $1.02 billion and earnings excluding one-time items of $1.07 to $1.08 a share. Analysts expected Zoom (ZM) to guide for $1.01 billion in sales and earnings of $1.09 a share. Reaction to the forecast suggest investors still have questions about how the company's business will fare after the pandemic. The outlook ran counter to Zoom's (ZM) second-quarter earnings results that topped Wall Street estimates and crossed $1 billion in sales for the first time. Revenue increased 54% year-over-year to $1.02 billion, beating analysts consensus by $29.7 million. Adjusted earnings of $1.36 per share topped estimates by $0.20. The number of customers contributing more than $100,000 in trailing 12 month revenue increased 131% on the year to 2,278. And the number of customers with more than 10 employees grew 36% on the year to 504,900. Zoom's full-year guidance includes revenue of $4.01 billion to $4.015 billion, slightly above the $4 billion consensus, and adjusted earnings of $4.75 to $4.79 a share, topping analysts $4.66 a share estimate. Zoom shares soared during the early months of the pandemic as workers and students were forced to operate from home. Shares have pulled back nearly 12% in the past month despite rising COVID-19 delta variant cases as investors and analysts continue to question whether the company has a strong future in the post-pandemic landscape.Recent news: Five9 deal spread with Zoom Video widens after FCC denies 'streamlined' process

ZM

Zoom Video Communications EPS beats by $0.20, beats on revenue

Zoom Video Communications (NASDAQ:ZM): Q2 Non-GAAP EPS of $1.36 beats by $0.20; GAAP EPS of $1.04 beats by $0.24. Revenue of $1.02B (+53.7% Y/Y) beats by $29.73M. Press Release Shares -6.24%. Number of customers contributing more than $100,000 in TTM revenue up 131% year over year. Operating margin of 28.8% and non-GAAP operating margin of 41.6%. FCF was $455.0 million, compared to $373.4 million in the second quarter of fiscal year 2021. 3Q22 Outlook: Total revenue is expected to be between $1.015B and $1.020B (consensus $1.01B) and Non-GAAP diluted EPS is expected to be between $1.07 and $1.08 (consensus $1.09). FY22 Outlook: Total revenue is expected to be between $4.005B and $4.015B (consensus $4.00B); and Non-GAAP diluted EPS is expected to be between $4.75 and $4.79 (consensus $4.66).

ZM

Five9 deal spread with Zoom Video widens after FCC denies 'streamlined' process

Alistair Berg/DigitalVision via Getty Images Five9 Inc.'s (NASDAQ:FIVN) deal with Zoom Video Communications (NASDAQ:ZM) widened after the Federal Communications Commission said it won't allow a "streamlined" review of the transaction. The FCC's Wireline Competition Bureau has removed the companies' application for "streamlined treatment" for the deal, according to a filing in FCC docket. The companies had originally asked for a streamlined review earlier this month. Five9 (FIVN) rose 0.3%, while Zoom Video (ZM) gained 1.1%. Last month, Zoom agreed to buy Five9 (FIVN) in all-stock deal valued at $14.7B. Zoom (ZM) said at the time the acquisition will help enhance its presence with enterprise customers and allow it to accelerate its long-term growth opportunity by adding the $24B contact center market. Analysts were surprised by the deal initially, with BTIG saying at the time that the deal "reads more like a 'choose your own adventure' story than the typical financial headline" and the firm is "in a moment of utter surprise despite the ongoing narrative that Zoom (ZM) has been increasingly interested in contact center technology." Last week, Zoom (ZM) shares were upgraded by Morgan Stanley to overweight, citing the company's stronger positioning heading into the second half of the year. Zoom is scheduled to report Q2 results after the close today.

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Cathie Wood's ARK Invest buys Zoom, Robinhood following dips

Sundry Photography/iStock Editorial via Getty Images ARK Investment Management added two recently beaten-down holdings Zoom Video Communications (NASDAQ:ZM) and Robinhood (NASDAQ:HOOD). Cathie Wood bought 194,080 shares of ZM yesterday for its flagship ARK Innovation ETF (NYSEARCA:ARKK) and its ARK Next Generation Internet ETF (NYSEARCA:ARKW). She added 260,084 shares of HOOD to the ARK Fintech Innovation ETF (NYSEARCA:ARKF). Zoom (ZM) tumbled nearly 17% yesterday as Wall Street slammed its weak outlook. Robinhood (HOOD) fell nearly 7% on Monday on concerns about regulators moving against payment for order flow. ZM is up 0.8% in premarket trading and HOOD is down 1.4%. Yesterday, ARK filed for a new transparency ETF that will also avoid sectors like oil and banking.

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Software firm monday.com's stock rallies to post-IPO high, up 162% in some three months

honglouwawa/iStock via Getty Images monday.com (NASDAQ:MNDY) rallied Wednesday to close above $400 for the first time, up some 7% on the day and more than 160% in the less than three months since the workplace-software firm went public. MNDY rose to as high as an intraday record $414.17 before pulling back some to end the session at $406.49, ahead 7.2% for the day and 162.3% from its $155 IPO price set on June 9. monday.com (MNDY) has been on a tear ever since going public, rising more than 15% on its first trading day and only going higher from there. The company’s IPO priced well above its expected $125-$140/share range and included $75 million private placements with both Zoom Communications (NASDAQ:ZM) and a unit of Salesforce.com (NYSE:CRM). MNDY has risen 65.9% just since its Aug. 16 close, rallying on well-received Q2 earnings and some analyst upgrades that followed. However, Wednesday’s push into record territory came despite no apparent fresh news for the stock. Seeking Alpha contributor Daniel Jones recently analyzed MNDY and concluded that while shares “look very pricey,” an eventual buyout by ZM or CRM “is not unthinkable.”

ZM

Tech Roundup: A whole lot of Apple, with a dash of Microsoft, Amazon and China

Justin Sullivan/Getty Images News With August ending and September getting started, the tech sector over the past week was dominated by a mix of activity involving Apple (NASDAQ:AAPL) and some of the best-known Chinese e-commerce companies. Might as well start at the top with Apple. The company started the week on a high note, literally, with its shares reaching an all-time high on August 30, and then gaining even more ground by the time the week ended. Apple's streaming service, Apple TV+, was also busy, as it said it has nabbed Jon Stewart to come back to TV with a new current affairs series called 'The Problem With Jon Stewart' that will debut on September 30. Apple TV+ also lined up Scarlett Johansson and Chris Evans to star in an upcoming romantic adventure feature to be called 'Ghosted'. Apple also announced that the Georgia and Arizona became the first states to allow drivers to store their licenses in the Apple Wallet app on their iPhones. And, the company is reportedly set to launch a slate of new health-related features for the Apple Watch, such as fertility tracking, in the coming weeks. And, on Friday, Apple said it was putting the brakes on a plan to rollout new child safety features on the iPhone due to privacy concerns. Alas, it wasn't an all-Apple week. For instance, we learned that Microsoft (NASDAQ:MSFT) will hold an event on September 22 in which the company is expected to launch the next version of its Surface tablet. Andy Jassy, Amazon's (NASDAQ:AMZN) new chief executive, isn't wasting any time settling into his job, as he said the company will hire 55,000 new corporate and technology employees in the coming months. A new report from Evercore ISI said that despite ongoing shortages of components such as semiconductors, the server and storage market is still going strong. Zoom Video Communications (NASDAQ:ZM) had a rough week of it, as its shares fell about 14% following a third-quarter revenue outlook that suggested the company's high-flying days during the Covid-19 pandemic may be slowing down. Twitter (NYSE:TWTR) said it was taking another step to combat online abuse with a new "safety mode" designed to block harassment on the social-media platform. Google (GOOG, GOOGL) reportedly is looking into producing its own central processing chips for use in the Chromebooks and Chrome-based laptops. And among Chinese tech companies, Alibaba (NYSE:BABA) said it will pour the equivalent of $15.5 billion into China's "common prosperity drive" over the next five years. Meanwhile, a subsidiary of e-commerce company JD.com (NASDAQ:JD) said it will pay $2.1 billion to acquire China Logistics in order to help build up its own distribution network. And, JD also said it was pulling 87 games from its digital platform due to those games violating Chinese online commerce policies.

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Five9 gains as Needham upgrade expects Zoom to raise acquisition price

Alistair Berg/DigitalVision via Getty Images Zoom's (NASDAQ:ZM) current offer to acquire Five9 (NASDAQ:FIVN) is "fundamentally flawed" and shouldn't be approved by shareholders, says Needham analyst Scott Berg in a note upgrading Five9 from Hold to Buy. Berg says the offer to acquire Five9 at a 0.5533 conversion rate is flawed with the fundamentals of Zoom and Five9 moving in opposite directions. Zoom shares pulling back has dragged the acquisition price 18% lower today than the initial $200.23 price and FIVN's $177.60 price before the acquisition was announced. "The first way to win is we believe ZM will need to raise its consideration or add cash to bracket a $200 price for FIVN shares or shareholders may reject the deal," writes Berg. Five9 shares are up 1.6% in pre-market trading to $172.90. The acquisition offer was first announced in July. Last week, shares of both companies pulled back after Zoom reported earnings with a softer than expected outlook.

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Microsoft indefinitely delays U.S. return to the office amid Covid case surge

Jean-Luc Ichard/iStock Editorial via Getty Images Microsoft (NASDAQ:MSFT) intended for U.S. workers to start the full return to their Redmond, Washington headquarters on October 4. But, the rise of Covid-19 cases due the the delta variant of the virus has put the brakes on the software giant's plans. On Thursday, the company said it is now delaying its return to the office indefinitely while also launching new features for the future of hybrid work environments. Rather than providing a return date amid Covid-19 delta variant uncertainty, Microsoft (MSFT) will open its U.S. work sites "as soon as we're able to do so safely based on public health guidance," said Microsoft's Jared Spataro, Corporate Vice President for Modern Work, in a blog post. Spataro said that after assessing health information, the company will then "communicate a 30-day transition period that provides time for employees to prepare while allowing us to continue to be agile and flexible as we look to the data and make choices to protect employee health, safety and well-being." Wedbush analyst Dan Ives called the delay "very proactive and prudent," and illustrates the cautious approach that Microsoft Chief Executive Satya Nadella is taking with regards to the health and safety of the company's employees. "This is a move that makes a ton of sense given the delta variant and we have seen similar moves from many other tech players," Ives said. Spataro said Microsoft's Teams workplace collaboration software is getting a number of new innovations to better suit hybrid work environments. Those include a new category of AI-enabled cameras that can identify and zoom in on a speaker, recognize participants and organize in-room employees into a separate video pane. Microsoft has a few cross-product additions such as cameo, a PowerPoint experience that integrates a Teams video stream for presenters to appear when needed, and an Outlook RSVP feature where employees can say whether they will participate remotely or in person. The company on Thursday launched a public preview of the Microsoft Viva Connections mobile app for employees, which provides company communications, news and announcements in a personalized feed within Teams. The app itself will become available for use later this month. Technology industry analyst Rob Enderle, of the Enderle Group, said that many companies that have instituted remote or hybrid work situations over the last 18 months have actually experienced increase productivity from their employees. However, Enderle said there is a downside to such situations continuing over the long term. "What is being lost is relationship creation building, work/life balance, and the ability to determine if an employee is at risk, both of mental and physical health, and of leaving the company," Enderle said. "I expect in a year we'll have this pretty much sorted, and, by that time, it may generally, with certain job exceptions, be better for employees to continue to work from home than ever going back to work." Microsoft-owned LinkedIn is also rolling out new fields in job posts for employers to indicate whether the position is in person, remote or hybrid. The company's announcement comes as the daily average of new COVID-19 cases in the United States totaled nearly 149,000 yesterday, according to New York Times data. The overall case number had a 14-day decline of 3% but tests increased 16%, hospitalizations grew 3% and deaths rose 32% during that period. The spread of the delta variant and an increasing number of companies altering their return to work plans could provide a boost for work-from-home stocks such as Zoom Video (NASDAQ:ZM) and Okta (NASDAQ:OKTA). Last week, Google postponed its own return to the office until January, citing the pandemic uncertainty.

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Amazon launches own-branded line of smart televisions, bringing in Alexa and TikTok

Amazon.com (AMZN +0.2%) has unveiled its first-ever Amazon-built television sets, with two product lines aimed at the market it's been cultivating with the Fire TV device line for years. A higher-end line of Fire TV Omni Series smart televisions promises new tech feature integrations, while the Fire TV 4-Series represents a value-priced line with "4K Ultra HD at affordable prices." The retail giant hasn't identified who's manufacturing the sets. Amazon has offered Fire TV devices for years that integrate or partner with other companies' displays. And today it's also refreshing its Fire TV add-on device with the Fire TV Stick 4K Max, which it says is 40% more powerful, and the first Fire TV streaming stick to support Wi-Fi 6. It supports 4K Ultra HD, Dolby Vision and Dolby Atmos and comes at $54.99. The 4-Series line starts at $370 and comes in 43-inch, 50-inch and 55-inch sizes, offering a 4K Ultra HD set with some Alexa connectivity. The 55-inch model costs $520. The Omni Series, starting at $410, comes in five screen sizes (43-inch, 50-inch, 55-inch, 65-inch and 75-inch, with the top end at $1,100), and promises higher-end features including hands-free voice control through Amazon's Alexa (whether the set is on or off). It also is showing off new integrations to the Fire TV platform: Alexa Conversations, which offers viewing recommendations in a conversational mode ("Alexa, what should I watch?"); "Alexa, Play Something," bringing Netflix's instant-watch feature straight to the home screen through Alexa; TikTok (BDNCE) integration, including a continuous content stream; and Alexa integration with Amazon Prime Video's X-Ray content information feature. The Omni Series will also be the first smart TVs to integrate Zoom (ZM -0.2%) video calling. And it's touting deeper smart home integration, including live picture-in-picture viewing of smart cameras or Ring doorbell views, along with a smart home dashboard on the television. Along the way, Amazon is expanding its partnership with Best Buy (BBY +1.6%), a popular channel for Fire TV products. The new Amazon-made televisions will be available in the U.S. exclusively through Amazon and Best Buy.

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Catalyst watch for next week: Apple, Zoom Video, Palo Alto Networks in the spotlight; OPEC update

blackred/E+ via Getty Images Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report. Monday - September 13 All week - Some of the big conferences to track this week include the Citi Global Technology Conference 2021, the H.C. Wainwright 23rd Annual Global Investment Conference, the Barclays Global Financial Services Conference 2021, the Piper Sandler 2021 Global Technology Virtual Conference, the JPMorgan Gaming, Lodging, Restaurant & Leisure Management Access Forum, the Jefferies Software Conference and the Jefferies Pet Summit 2021. Volatility watch - Options trading spiked higher this week on ChemoCentryx (NASDAQ:CCXI) and Waitr Holdings (NASDAQ:WTRH), while Wayfair (NYSE:W) and Bed, Bath & Beyond (NASDAQ:BBBY) still trade with a high level of short interest. Stocks generating more interest on Reddit's WallStreetBets include Clover Health Investments (NASDAQ:CLOV), Cameco Corporation (NYSE:CCJ) and Rocket Lab (NASDAQ:RKLB). Camber Energy (NYSE:CEI) is a stock on the rise on Stocktwits. All day - IPO lockup periods expire on Olo (NYSE:OLO) and Sun Country Airlines (NASDAQ:SNCY). Olo trades about 40% above its IPO pricing level, while Sun Country flies about 30% over its IPO pricing level despite some recent selling pressure in the airline sector. All day - Arbutus (NASDAQ:ABUS) delivers what may be one of the more intriguing presentations at the H.C. Wainwright 23rd Annual Global Investment Conference. The fireside chat arrives with options trading on ABUS very elevated and share price volatility notably higher over the last week. All day - The OPEC Monthly Oil Market Report is due to arrive. Sources are saying that OPEC is likely to revise lower its 2022 oil demand growth forecast. Crude oil futures (CL1:COM) have been jolted before by the monthly OPEC update. 10:00 a.m. Apollo Global Management (NYSE:APO) CEO Marc Rowan goes one-on-one with CNBC at the Delivering Alpha livestream event. Topics are expected to include Rowan's views on new investment opportunities, the ongoing boom in private equity and what the specter of inflation means for business. 11:15 a.m. MGM Resorts International (NYSE:MGM) is one of the more interesting presenters at the JPMorgan Gaming, Lodging, Restaurant and Leisure Management Access Forum. Investors will be looking for updates on the BetMGM business in particular. 12:30 p.m. Palo Alto Networks (NYSE:PANW) holds its analyst day event with top execs set to provide an in-depth review of the company, including its growth strategies, financial objectives and capital allocation framework. A live Q&A session will follow the presentation. It was during the Q&A part of a prior Palo Alto Networks investor day that Zscaler (NASDAQ:ZS) took a share price hit off news of a business win for PANW. Ahead of the event, Evercore ISI added PANW to its Tactical Outperform list on its view that the stock could get a boost if the company's long-term outlook comes in above expectations. 1:30 p.m. Ford (NYSE:F) exec Lisa Drake discusses the automaker's commitment to environmental sustainability and its plans to lead in the electric revolution at the Morgan Stanley Laguna Conference. Drake will highlight Ford’s differentiated approach as it electrifies its iconic nameplates like the F-150 Lightning, Mustang Mach-E, and E-Transit. Drake will also discuss how vertical integration of battery cell production and recycling of battery materials are seen as key to achieving competitive advantages in cost, raw material security, and business model sustainability. The event could push the investors narrative away from supply chain headaches back to the automaker's long-term EV potential. 2:00 p.m. Top execs at Zoom Video (NASDAQ:ZM) participate in the analyst day part of the two-day Zoomtopia event. Shares of Zoom rose 6% after last year's Zoomtopia event when the company attracted some higher price targets from analysts impressed with the update. Tuesday - September 14 All day - It is the last trading day before the FDA priority review action date on Calliditas Therapeutics' (NASDAQ:CALT) Nefecon for IgA nephropathy. Shares of Calliditas shares rose more than 10% earlier this year after positive FDA news on Nefecon. All day - Crocs (NASDAQ:CROX) hosts an investor day event that will provide an overview of the company's long-term strategy and key initiatives to deliver sustainable, profitable growth. CROX is in the top 2% of all consumer discretionary stocks in a ranking of Seeking Alpha Quant Ratings. All day - Sports betting data provider Sportsradar Group (NASDAQ:SRAD) is expected to start trading. The company competes with Genius Sports (NYSE:GENI), which has been attracting a lot of interest itself lately. Sportradar counts basketball star Michael Jordan and Mark Cuban among its backers. The company has relationships with the NBA, NHL, MLB and other sports organizations. All day - Roche (OTCQX:RHHBY) holds a Pharma Day event to provide investors a pipeline update. Shares of Roche have tracked higher the day after the previous two Pharma Day events held by the healthcare giant. All day - Camping World Holdings (NYSE:CWH) conducts an in-person Investor Conference in Salt Lake City, Utah followed by a preview into what it calls the future of electrification of recreation with the first Electric World retail location. 8:30 a.m. The Retail Sales report will be closely watched by investors for any signs that "transitory" inflation is slowing. New car prices, apparel prices and food prices will be watched in particular for read-throughs to sector players. 12:30 p.m. MarketAxess Holdings (NASDAQ:MKTX) hosts an Investor Day event with presentations about the company's strategies and opportunities. 1:00 p.m. Apple (NASDAQ:AAPL) hosts a special streaming event from Apple Park. While details are thin from Cupertino, the company could introduce the new iPhone 13, Apple Watch Series 7 and new AirPods sometime soon. There is some speculation that a surprise AR/VR product announcement could be part of the Apple event. Any update on iPhone pricing and demand will be of high interest to AAPL chip supplier Taiwan Semiconductor Manufacturing Company (NYSE:TSM). 1:30 p.m. ARK Invest holds its monthly webinar. Cathie Wood's firm has been a recent buyer of Zoom Video (ZM), Robinhood (NASDAQ:HOOD), TuSimple (NASDAQ:TSP) and DraftKings (NASDAQ:DKNG). There could also be some discussion on ARK Invest's plans for a new fund that will focus on transparency in companies and shun vice and sectors that run afoul of ESG investing like fossil fuels Wednesday - September 15 All day - Companies due to present data at the European Society for Medical Oncology conference include Gritsone bio (NASDAQ:GRTS), MacroGenics (NASDAQ:MGNX), Aileron Therapeutics (NASDAQ:ALRN), Deciphera Pharmaceuticals (NASDAQ:DCPH), Silverback Therapeutics (NASDAQ:SBTX) and Epizyme (NASDAQ:EPZM). Bank of America sees upside potential for BeyondSpring (NASDAQ:BYSI) coming out of the ESMO conference and recommends buying shares in front of the company's presentation. All day - IPO lockup periods expire on Instil Bio (NASDAQ:TIL), Connect Biopharma (NASDAQ:CNTB), Finch Therapeutics Group (NASDAQ:FNCH) and AFC Gamma (NASDAQ:AFCG). Of the group, shares of Connect Biopharma have seen the biggest rally off the IPO pricing marks and could be the most tempting to be sold. 11:00 a.m. Cisco (NASDAQ:CSCO) holds its Investor Day event. Top management will present on Cisco's strategy, business transformation and broader market opportunity. 12:00 p.m. Metacrine (NASDAQ:MTCR) hosts a virtual R&D Day for analysts and investors to showcase its programs in non-alcoholic steatohepatitis and inflammatory bowel disease, as well as the introduction of a new discovery program. It will be the company's first full update on its pipeline. 3:00 p.m. Astra Space (NASDAQ:ASTR) CEO Chris Kemp speaks on a panel at the SALT New York Conference on the future of space. Private equity and venture capital firms own about 20% of ASTR. Thursday - September 16 7:40 a.m. Freshpet (NASDAQ:FRPT) presents at the Jefferies Pet Summit. Shares of Freshpet have gained five of the last six times the retailer has made a conference appearance. 8:30 a.m. The Retail Sales report drops to expectations for a 2.2% bounce in August from July. Bank of America reminds that the swing will be in large part due to a seasonal adjustment quirk around the timing of Prime Day, which was held earlier this year. Online retail stocks like Amazon (NASDAQ:AMZN), Wayfair (W), Etsy (NASDAQ:ETSY) and Overstock.com (NASDAQ:OSTK) could be active if that category catches traction again after the July disappointment. 10:00 a.m. Cerberus Telecom Acquisition Corp. (NYSE:CTAC) shareholders meet to vote on the SPAC deal with IoT player KORE. As part of the proposed transaction, KORE majority shareholder Abry Partners has agreed to roll 100% of its common equity into the combined company. 12:20 p.m. Rover Group (NASDAQ:ROVR) makes an appearance at the Jefferies Virtual Pet Care Summit. The dog walking/pet sitting specialist has attracted five Buy-equivalent ratings out of the six firms covering it since the IPO quiet period ended. Friday - September 17 All day - The FDA holds an Advisory Committee Meeting to discuss Pfizer (NYSE:PFE)-BioNTech's application for a COVID-19 Booster. The FDA is evaluating data submitted by Pfizer-BioNTech in with COVID-19 vaccine booster application and will discuss it with the agency's advisory committee. Also in the FDA sphere of influence, the agency's Advisory Committee meets to discuss the Flourish Pediatric Esophageal Atresia Device from Cook Medical. It is also the estimated FDA action date for Biogen's (NASDAQ:BIIB) SB11, a biosimilar of the anti-VEGF therapy Lucentis (ranibizumab). 8:30 a.m. Molina Healthcare (NYSE:MOH) hosts a virtual Investor Day meeting. Shares of Molina Healthcare rallied more than 8% the last time the company held an investor day when the guidance update boosted the confidence of investors. 9:00 a.m. ChannelAdvisor (NYSE:ECOM) hosts an Analyst Day meeting following its annual ChannelAdvisor Connect gathering earlier in the week. The company has updated on new customer additions at similar analyst events in the past.

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Fortinet, Linksys partner for secure work-from-home networks

Olemedia/E+ via Getty Images Fortinet (NASDAQ:FTNT -3.3%), a cybersecurity solutions provider, has partnered with wireless networking product maker Linksys for a joint solution to secure work-from-home networks. The "Linksys HomeWRK for Business|Secured by Fortinet" solution is an enterprise solution for secure corporate and personal network connectivity, optimized for collaboration and business tools and applications. The joint solution comes after Fortinet made an investment in Linksys, and the launch of "Linksys HomeWRK for Education|Secured by Fortinet", a similar network security solution for students at home. Linksys HomeWRK for Business uses new Wi-Fi 6 tri-band technology and Linksys' Velop Intelligent Mesh software. enterprise IT teams can distribute the hardware to replace employees' home router for whole-home mesh Wi-Fi coverage without deadspots. The two companies also partnered with Zoom Video Communications (ZM -1.9%) for a more integrated experience of the latter's video conferencing and collaboration platform. Linksys HomeWRK uses Fortinet security to protect home networks against cyberthreats, and enterprise IT teams can monitor and diagnose device performance through a single-portal management console. The solution will launch in the U.S. in Q421 and across the rest of the world in Q122. It will be available via hardware-as-a-service subscription plans with zero upfront investment and two levels of service: standard and advanced.

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Zoom launches new hybrid work features, Facebook tie-up

Alistair Berg/DigitalVision via Getty Images Zoom Video Communications (NASDAQ:ZM) announces a slate of platform updates aimed at hybrid work environments as in-office work remains uncertain due to rising COVID-19 cases. The videoconferencing company plans to extend its automated transcription to 30 languages and add live translations to 12 languages in the next year. The new Zoom Widget gives users an at-a-glance view of their meeting schedule, members already in meetings and the ability to quick launch chats. Zoom Whiteboard, launching later this year, will allow for seamless, asynchronous collaboration across a wide range of devices. The feature lets users utilize a virtual whiteboard the same way they would use one in the office. The company is also teaming up with Facebook to build a Whiteboard integration for the Oculus Horizons Workrooms virtual environments. Other updates to the platform include a remote control-like setting that allows multiple people to control slides without a verbal command, two-way chat in the Waiting Room and in-meeting chat emojis. Zoom Chat is getting an upgrade to make it easier for two team members to continuously collaborate before, during and after a meeting. Later this year, the chat feature will gain a new "huddle view" that offers a visual representation of the channel and native integrations with more cloud storage tools, including SharePoint and Box. The Zoom Phone service will be updated with a Provider Exchange to match customers and providers and end-to-end encryption during one-on-one phone calls in the Zoom client. A video voicemail function will debut later this year. Zoom shares are down 2.3% to $294.66. Last month, Zoom shares fell after the company's third-quarter outlook disappointed Wall Street analysts.

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Tim Cook, Elon Musk and Jensen Huang make Time 100 most influential list

Yongyuan Dai/iStock Unreleased via Getty Images Time magazine on Wednesday released its annual Time 100 list of what it calls the most-influential people in the world, and three well-known technology chief executives made the cut this year. Apple (NASDAQ:AAPL) CEO Tim Cook, Nvidia (NASDAQ:NVDA) boss Jensen Huang and Tesla (NASDAQ:TSLA) CEO Elon Musk can be found among the Time 100, alongside the likes of President Joe Biden, baseball star Shohei Otani and music legend Dolly Parton. The list was divided into six categories: Icons, Pioneers, Titans, Artists, Leaders and Innovators. Most of the 150-word snippets about the Time 100 members were written by associates or friends of those on the list. Nike (NYSE:NKE) co-founder Phil Knight, said about Cook, who is a Nike board member, said of the Apple CEO, "What separates the good from the great are intangibles such as character, compassion, courage--adjectives that apply to Tim." Andrew Ng, founder of DeepLearning.ai and co-founder of Coursera, said that Huang's pushing of Nvidia into the graphics chip market laid the foundation for much of today's artificial intelligence. "He has helped enable a revolution that allows phones to answer questions out loud, farms to spray weeds but not crops, doctors to predict the properties of new drugs, with more wonders come," wrote Ng. Arianna Huffington said that for Elon Musk, "The word entrepreneur doesn't quite do him justice." Huffington said that between his work with Tesla and SpaceX, Musk "isn’t just changing how we transport ourselves, he’s augmenting human possibilities." Last year, Alphabet (NASDAQ:GOOG) (NASDAQ:GOOGL) CEO Sundar Pichai, Zoom Video Communications (NASDAQ:ZM) CEO Eric Yuan and Alibaba CEO Daniel Zhang made the Time 100 list. None of them repeated this year. On Tuesday, Cook led an Apple event to unveil the iPhone 13 and other new company products.

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Zoom reseller partners can now sell BYOC licenses

Zoom Video Communications (NASDAQ:ZM) has announced a reseller partner program through which partners will be able to sell Zoom Phone Bring Your Own Carrier (BYOC) licenses. The program will allow partners to connect customers using cloud peering to access PSTN to the Zoom Phone Provider Exchange. It is currently in the pilot phase with select resellers participating. The program will expand to more resellers by end-2021. The reseller partner program expands the availability of Zoom Phone and Zoom Phone BYOC, which were previously sold only via Zoom Master Agents. Zoom Phone is a full-feature enterprise cloud phone system from the teleconferencing company. Zoom Phone BYOC allows enterprise customers to keep their PSTN service providers or deploy hybrid Zoom Calling Plans. Customers using their own PSTN will be able to redirect voice circuits to the Zoom Phone cloud to access all features of Zoom Phone while retaining their service provider contracts. The new Zoom Phone Provider Exchange allows Zoom Phone BYOC customers to select providers and provision phone numbers via the Zoom portal. Laura Padilla, Head of Global BD and Channel, said, "We've seen a lot of success in selling Zoom Phone, reaching 2M seats in just 10 quarters, and I see a lot of opportunity for our resellers with our Zoom Phone BYOC program." ZM +0.47% pre-market Earlier this week, Zoom launched new hybrid work features, Facebook tie-up

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Five9 shareholders should vote against Zoom deal, says proxy advisor

Alistair Berg/DigitalVision via Getty Images Proxy advisory firm Institutional Shareholder Services has recommended that holders vote against Zoom's (NASDAQ:ZM) deal to acquire Five9 (NASDAQ:FIVN). "No surprise, ISS recommends vote against Zoom's deal to acquire Five9. Vote is on September 30th. ZM's decline has brought deal value to $153, well below price of FIVN before deal was announced on 7/18," tweets CNBC's David Faber. Five9 shares are up 2.8% in pre-market trading to $172.95. In July, Zoom offered to acquire the cloud contact center company in an all-stock deal that valued the company at about $14.7 billion. Zoom and Five9 shares slumped in August after the videoconferencing company provided guidance that failed to wow Wall Street analysts. Needham recently upgraded Five9 from Hold to Buy, saying the Zoom offer was "fundamentally flawed" and expecting the deal to sweeten with a higher offer or cash added into the mix.

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Tech Roundup: Apple speaks, and everyone listens

One of the most-famous lines from George Orwell's novel "Animal Farm" was when Napoleon the pig said, "All animals are equal, but some animals are more equal than others." When looking at all the activity in the tech sector this past week, there is one company for which that statement applies: Apple. More than a decade after unveiling the first iPhone, Apple (NASDAQ:AAPL) is still able to create a palpable buzz around the ubiquitous smart phone. And once a year, usually in September or October, Apple shows off the newest version of the iPhone. Everyone knows it's coming, and yet, everyone still likes to speculate about what Apple has up its sleeve and how it will stoke excitement for the end-of-the-year holiday shopping season. And, that's just what Apple did on Tuesday, when Chief Executive Tim Cook showed the world the iPhone 13. Actually, there were four new iPhones--iPhone 13, iPhone 13 Mini, iPhone 13 Pro and iPhone 13 Pro Max. The phones prices range from $699 for the Mini and 128 gigabytes of storage, to a whopping $1,599 for the Pro Max with a massive 1 terabyte storage capacity. Apple also took the wraps of new models of the iPad, and Apple Watch Series 7. Analysts said the refreshed product line puts Apple in a good position heading into the end of the year. And some evidence of that was seen in reports that the iPhone 13 is seeing stronger pre-orders in China that the iPhone 12 a year ago. AT&T (NYSE:T) wasted little time trying to appeal to potential iPhone 13 customers. Almost as soon as Apple's release event ended, AT&T announced a promotion to give away the iPhone 13 Pro for free. But, prior to all of that, Apple had to send out a security patch for the iPhone to keep it from falling prey to a new piece of spyware that could have infected iPhones all over the world. And, after all the product announcements, Apple's Cook found out that he was influential enough to be named to Time magazine's list of the 100 most-influential people in the world for 2021. Cook was joined on the list with Nvidia (NASDAQ:NVDA) boss Jensen Huang, and the inimitable CEO of Tesla (NASDAQ:TSLA), Elon Musk. Meanwhile, opinions also emerged regarding how things might eventually work out regarding the antitrust decision in the case between Apple and Fortnite developer Epic Games. Both companies have said they will appeal what was, in effect, a split decision in the case. But, even with all that Apple going on, there were some other notable tech happening over the last week. After less than a year on the job, Uber's chief technical officer stepped down from the ride-sharing giant. Uber (NYSE:UBER) and Lyft (NASDAQ:LYFT) also got some love from Wall Street, as Goldman Sachs analyst Eric Sheridan started coverage of both companies with buy ratings and $64-a-share-price targets. Bad Facebook, good Facebook. According to a Wall Street Journal report, Facebook (NASDAQ:FB) apparently knows its Instagram service is harming teens perceptions of themselves. Facebook is also reportedly taking steps against coordinated harmful acts coming from real accounts. Zoom Video Communications (NASDAQ:ZM) got some negative news at the end of the week from proxy advisor Institutional Shareholder Services. ISS recommended that Five9 (NASDAQ:FIVN) shareholders vote down Zoom's deal to acquire Five9 on the grounds that a decline in Zoom's share price has dragged down the value of the deal. Microsoft (NASDAQ:MSFT) made its shareholders happy by raising its dividend payment by 11%, and setting a new $60 billion share repurchase program. The tech sector also saw some acquisition activity take place, starting with Intuit (NASDAQ:INTU), which said it would put up $12 billion in cash and stock for email marketing company Mailchimp. The battle for driving technology developer Veoneer (NYSE:VNE) heated up with reports that Qualcomm (NASDAQ:QCOM) has made an offer of $37 a share, or $4.6 billion, for the Stockholm-based company. Chipmakers Intel (NASDAQ:INTC) and Advanced Micro Devices appeared to make moves aimed at countering one another. Intel reportedly is looking at cutting prices of some chips in order to attract customers who switched over to AMD. Meanwhile, AMD was said to be considering making microprocessors based on ARM technology.

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China ties put Zoom's Five9 acquisition in DOJ crosshairs--report

Sundry Photography/iStock Editorial via Getty Images Zoom Video Communications' (NASDAQ:ZM) $14.7 billion acquisition of Five9 (NASDAQ:FIVN) could be on thin ice due to an investigation by a U.S. Justice Department panel regarding national security concerns about the deal. The Wall Street Journal reported Tuesday that a Justice Department group known as Team Telecom is looking at the proposed deal to see if it "poses a risk to the national security or law enforcement interests" of the United States. The DOJ group is said to be concerned about ties between Zoom and the Chinese government. According to the Journal report, the Justice Department sent a letter to the Federal Communications Commission last month requesting that it hold off on taking any action on Zoom's proposed acquisition until the Team Telecom ground completes its review of deal. Such a move would effectively put the brakes on the acquisition. A Zoom spokesperson said of the report, "The Five9 acquisition is subject to certain telecom regulatory approvals. We have made filings with the various applicable regulatory agencies, and these approval processes are proceeding as expected. We continue to anticipate receiving the required regulatory approvals to close the transaction in the first half of 2022." Zoom's public profile skyrocketed as usage of its services grew with companies having their employees work remotely during the Covid pandemic. Five9 specializes in customer service software. Zoom announced the all-stock acquisition in July. It wouldn't be the first time the U.S. government has shown interest in Zoom's ties with the Chinese government as the company is also involved in several federal probes into its business deals with China. The DOJ inquiry also comes as China has been cracking down on the business practices of several of its largest tech companies, including those in the Internet and e-commerce sectors.

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Analysts cheer collapse of Zoom-Five9 deal given circumstances

Kena Betancur/Getty Images News Five9 (NASDAQ:FIVN) started higher today but has turned down 0.5%, and Zoom Video Communications is up 1.6% after their merger plan collapsed last night on the weight of Zoom's recently declining stock price. And analysts as a chorus are upgrading Five9 to Buy-equivalent ratings in response. Barclays upgraded FIVN to Overweight, saying the deal's breakdown refocuses the investment case back on fundamentals. And “We don’t think lack of a deal hurts Five9’s positioning with enterprise customers." The firm set its FIVN price target at $206, implying 30% upside. Evercore also raised FIVN to Outperform, having expected a clearing event as event-driven/arbitrage investors rotated out - but looking for a quick recovery based on fundamental support. Analyst Peter Levine says based on his talk with management last night, the business is "firing on all cylinders, the pending acquisition was not a distraction, partner contributions remain strong, and the numbers released in the proxy are a fair representation of the current trends in the business." He's moving his price target to $205. Wells Fargo boosted to Overweight, expecting some mixed near-term impact but staying "longer-term believers in the secular shift towards cloud-enabled contact center technology, Five9's competitive positioning, and the durability of the growth curve ahead (as tactical fixes turn to strategic contact center transformations)." It's sticking with a $200 price target. Piper Sandler (already Overweight) named FIVN a Top Pick and has a $200 price target as well. It's surprised Zoom didn't make a more aggressive approach and says “Five9 is one of the ‘horsemen’ of the space given its AI-first driven platform." Writing on Zoom (NASDAQ:ZM), Morgan Stanley says "Stood up at the altar, but bachelor life isn't half bad." It's staying Overweight on the videoconferencing darling, saying the company's still in the "early days of leveraging installed base with ARPU enhancements and cash flow generation properties." It liked the acquisition for the chance to diversify Zoom's revenue sources, but it's not "essential" for Zoom to hit its $400 price target (that deal was more about achieving the bull case). The target implies a healthy 50% upside. After its shareholders rejected the deal, Five9 says it has "significant potential for value creation as a stand-alone company."

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Five9 plays up opportunity as standalone company after Zoom merger falls apart

Five9 (NASDAQ:FIVN) highlighted significant opportunity ahead as a standalone company after it did not receive the required number of votes from it shareholders to approve the merger with Zoom Video Communications (NASDAQ:ZM). Five9 CEO Rowan Trollope said "“We had the opportunity to engage extensively with our shareholders since our transaction announcement. We greatly appreciate their feedback and confidence in Five9’s future prospects and share their views regarding the significant potential for value creation as a standalone company." The company plans to capitalize on favorable market dynamics and the enterprise opportunity; expand the Five9 platform to meet and anticipate customers’ evolving needs;Continue investment in go-to-market execution. Trollope added that the company will sharing additional information on its plans to deliver profitable growth in connection with its Q3 results on Nov. 8 and Financial Analyst Day on Nov. 18. FIVN +2.20% premarket to $162.97

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Five9 mutually terminates merger with Zoom Video Communications

Five9 (NASDAQ:FIVN) mutually terminates its merger agreement with Zoom Video Communications (NASDAQ:ZM) on not receiving the requisite number of votes from Five9 shareholders to approve the merger with Zoom. Five9 will continue to operate as a standalone publicly traded company. Proxy advisory firm Institutional Shareholder Services has recommended FIVN holders vote against Zoom's deal to acquire Five9 on the grounds that a decline in Zoom's share price has dragged down the value of the deal. Zoom Video Communications agreed to acquire cloud contact center provider Five9 in an all-stock deal that values the company at ~$14.7B in July 18. Shares after-hours: FIVN -2.1%, ZM +0.30%. Previously (Sept. 21): China ties put Zoom's Five9 acquisition in DOJ crosshairs--report

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Buzz stocks trail the broad market in September but quant analysis plays

DKart/iStock Unreleased via Getty Images September was a rough month for the most discussed stocks on Reddit's WallStreetBets as the top names failed to deliver a short-term bang and trailed the broad market by a wide margin. If an investor bought the most discussed stocks on September 1 and held them through today, they would be down roughly 17% on paper on an equally-weighted basis. September returns: Skillz (NYSE:SKLZ) -22.2%, Corsair Gaming (NASDAQ:CRSR) -8.9%, GameStop (NYSE:GME) -20.3%, AMC Entertainment (NYSE:AMC) -22.8%, Tesla (NASDAQ:TSLA) +6.5%, Alibaba (NYSE:BABA) -14.0%, Tilray (NASDAQ:TLRY) -20.0%, Zoom Video (NASDAQ:ZM) -24.5%, CrowdStrike (NASDAQ:CRWD) -15.1% and Vinco Ventures (NASDAQ:BBIG) -26.8%. Along those same lines, the VanEck Vectors Social Sentiment ETF (NYSEARCA:BUZZ) trailed the S&P 500 Index in September and for the last six months. Heading into October, the list of most discussed stocks on WallStreetBets includes Lucid Group (NASDAQ:LCID), Tesla (TSLA), TMC the metals company Inc.(NASDAQ:TMC), Palantir Technologies (NYSE:PLTR), Dole (NYSE:DOLE), Camber Energy (NYSE:CEI), SmileDirectClub (NASDAQ:SDC), GameStop (GME), Virgin Galactic (NYSE:SPCE) and ContextLogic (NASDAQ:WISH). Can an investor fade the buzz and meme stock trade with a selection of overlooked or underappreciated stocks? On the same 30-day comparison, Seeking Alpha's list of top ranked stocks by Quant Ratings smashed the return of the S&P 500 Index.

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Zoom Video invests in DTEN; financial terms undisclosed

Zhanna Hapanovich/iStock via Getty Images DTEN announces an investment made in the company by Zoom Video Communications (NASDAQ:ZM). The financial terms were not disclosed. DTEN is a manufacturer of innovative communication technology founded in 2015 with headquarters in San José, California. The company has additional locations in North America, Europe, Asia and Australia. The investment allows DTEN to expedite new product and services innovations. Kelly Steckelberg, Zoom CFO. "Zoom's investment recognizes that DTEN shares our same goals to always make video-first communications frictionless, reliable, secure and productive."

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Zoom Video rallies after JPMorgan points to 40% upside on large enterprise potential

peshkov/iStock via Getty Images J.P. Morgan turns bullish on Zoom Video Communications (NASDAQ:ZM) on its view that the risk-reward profile is attractive after the growth slowdown has been factored in by investors with the 33% drop in share price since last December. Analyst Sterling Auty: "The entire UCaaS space has been rerated lower on these concerns and worries about Microsoft’s ability to capture share through Teams and Teams calling. We expect Zoom to be the other big winner in the enterprise UCaaS (video, phone, etc.) market and RingCentral in the mid-market." Zoom is seen being in a solid position to land large enterprise business looking to focus on UCaaS platforms that can bring together video, calling, contact center, CPaaS and chat/task management. Shares of Zoom Video (ZM) are up 2.37% premarket to $281.26. J.P. Morgan assigns a price target of $385 to ZM to rep 40% upside potential. The average analyst price target on ZM is $355.30.

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Baird's top cloud software ideas look to build on strong operating trends

Olemedia/E+ via Getty Images A preview of Q3 earnings for cloud software companies has Baird bullish about prospects, as it expects healthy operating trends to keep manifesting across results. "We expect digital transformation and WFA requirements to power continued strong Q3 trends for most of our covered names," the firm's William Power writes. "With many of our UCC (Unified Communications and Collaboration) leaders underperforming this year we like the risk/reward for long-term investors," he says. He adds they're also positive on public safety leaders like Axon (NASDAQ:AXON) and Everbridge (NASDAQ:EVBG), which the firm expects to continue to benefit from tailwinds in public safety spending. Overall, the cloud software group is down 1.8% year-to-date vs. the Nasdaq's 17.2% gain. The faster-growing cohort is the laggard here, down 7.4% while Software-as-a-Service names are up 28.8%. And that presents a valuation disconnect. Baird's higher-growing names are trading at an average of about 14.5x 2022 revenues, vs. the broader SaaS group at about 20x. It cites concerns over tough comps and increasing competition. Meanwhile, sentiment in the UCC space is poor: Only 8% of investors are overweight UCC, vs. 68% overweight the broader software area, according to a Baird survey. But worries about competition will go away with some continued strong growth, the firm notes. There are several key questions to review going into earnings it says, starting with UCC ("Can UCC leaders regain mojo?") It sees some solid fundamentals but acknowledges that may not be enough until COVID comparisons fully lap for some of the names. For Bandwidth (NASDAQ:BAND), it likes the risk/reward, but the key question will be how the company deals with concerns over DDoS (Distributed Denial of Service) attacks. As for RingCentral (NYSE:RNG), "Can the company accelerate revenue growth further, and will investors even care?" The company can speed up growth, but it's less clear when that will be a catalyst, Baird says. For Five9 (NASDAQ:FIVN), focus is on whether there's any hiccups from the failed merger with Zoom (NASDAQ:ZM). And with Vonage (NASDAQ:VG) and 8x8 (NYSE:EGHT), the focus is on progress of their recent UC initiatives and growth outlook. In over-the-top providers, it's looking for solid results from Akamai (NASDAQ:AKAM), where it continues to like progress on cloud security; but investors will be looking to gain more confidence on visibility at Fastly (NYSE:FSLY). Its top ideas as investors process all the quarterly results: It likes Axon (AXON), DocuSign (NASDAQ:DOCU), Five9 (FIVN) and Zoom Video Communications (ZM). And it says those picks are "followed closely" by RingCentral (RNG), Twilio (NYSE:TWLO), Bandwidth (BAND) and Everbridge (EVBG). Yesterday, Five9 (FIVN) drew an upgrade to Overweight at KeyBanc, which called it "one of the best positioned names" in the sector.

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Subscription Economy ETF aims to offer exposure to recurring revenues

cagkansayin/iStock via Getty Images Exchange Traded Concepts Trust intends to launch the Fount Subscription Economy ETF (SUBS), which seeks to take advantage of companies that are engaged in subscription services, i.e., businesses that sell products or services for recurring revenues. Subscription business models have been a growing trend among companies, and are popular with investors who like the concept's recurring revenue. SUBS aims to offer diversified exposure under one ETF roof to companies using the model. Stocks that are eligible to be a part of SUBS are U.S. and foreign firms with a market capitalization of $300M or more. In addition, SUBS will not have any one stock weighted greater than 10%. According to a prospectus filed with the U.S. Securities Exchange Commission, SUBS will be an actively managed exchange traded fund. It will trades on the New York Stock Exchange and have a 0.70% expense ratio. While the company has yet to say what stocks SUBS will own, investors can take an educated guess on potential fits. Three prominent subscription businesses that stick out as candidates are Netflix (NASDAQ:NFLX), HubSpot (NYSE:HUBS) and Zoom Video Communications (NASDAQ:ZM). Daily price action: NFLX +0.51%, HUBS +0.92%, and ZM +1.27%. In related subscription news, Zoom Video rallies after JPMorgan points to a 40% upside on large enterprise potential.

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Zoom Video to launch ads on its free, basic meeting service

Zoom Video Communications (NASDAQ:ZM) said Monday it is launching a pilot advertising program as part of an effort to continue providing its basic level video conferencing service for free. In a blog post Zoom (ZM) Chief Marketing Officer Janine Pelosi said that the program consists of ads being shown on users browser pages once their meetings have ended. Pelosi also said that only free basic service users in certain countries will see ads when they join meetings hosted by other basic service users. Pelosi didn't go into details about the countries where users would see such ads. Pelosi said that as part of the advertising pilot program, Zoom (ZM) will provide a link on Zoom's website that goes to a cookie management tool so that users can manage what ads they are shown. Pelosi also said that Zoom (ZM) won't use any meeting, webinar, or messaging content for marketing, promotions, or third-party advertising. Zoom's (ZM) free basic service allows for users to host meetings of up to 100 people, group meetings for up to 40 minutes, one-to-one meetings with a 30 hour time limit, and private and group chat services. Zoom (ZM) usage surged as the Covid-19 pandemic took hold in 2020 and remote work situations became commonplace.. In late October, JP Morgan said Zoom (ZM) shares stand to gain more ground as the company increases its presence among businesses.

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Disruptor stocks are getting hammered as growth prospects fail to measure up

Becart/E+ via Getty Images Peloton (NASDAQ:PTON) -32% is the latest example of a high-flying growth stock finding tougher sledding in the post-COVID economy. PTON has lost a third of its value this morning after the company lowered its revenue guidance, leading to a host of target cuts from analysts. "Prior guidance had given us confidence that the company could grow through the reopening period, with a new product launch and international market expansion serving as options for upside," Needham says. "Now, given the materially lower expectations, we expect it will take several quarters to determine a more normalized pace of growth, or more skeptically, whether or not the revised outlook is an indication that the core product may be closer to maturity in existing markets than previously thought." Today's tumble puts Peloton (PTON) around 65% below the all-time high set in January when global economies faced a second lockdown. Zillow (NASDAQ:Z) -3% is down about 67% from its February high after exiting its iBuying initiative, announced three years ago to lots of fanfare. ARK Investment Management's Cathie Wood, whose funds concentrate on "broad exposure to disruptive innovation" sold more than 3.9M shares of Z on Wednesday in the wake of this move, including 2.85M from the flagship ARK Innovation ETF (NYSEARCA:ARKK). Wood sold another 1.76M shares yesterday. Other stocks that are considered game-changing disruptors are also well off their highs. Barry Schwartz, CIO at Baskin Financial, tweets about "a bunch destruction from all-time highs in disruptive growth." Robinhood (NASDAQ:HOOD) -0.5% is down 47% from its post-IPO high. It missed on revenue this week and also faces pressure from lock-up expiration. "We think selling pressure could be 2x the new supply given supply constraints, as convert holders sell, those shares are borrowed and then shorted," J.P. Morgan said. Fiverr (NYSE:FVRR) -1.3% is down about 48% from its highs in February, struggling to recover from a large August drop on light guidance. Needham reiterated its Buy on the stock this week, but lowered its price target to $200. Seeking Alpha's Quant Rating is flashing a warning on shares for poor performance, with the stock losing momentum and looking overvalued compared to the sector. Lightspeed (NYSE:LSPD) -4% is down 45% from a high hit just in September. Roku (NASDAQ:ROKU) -1.3% is down 40% from July highs and work-from-home favorite Zoom (NASDAQ:ZM) -4% is down 50% from October peaks. In healthcare, Moderna (NASDAQ:MRNA) -17% is tumbling for the second-straight session. The stock is now down more than 50% from its all-time closing high in August. MRNA reported light guidance yesterday and is facing further pressure from Pfizer's progress with its COVID pill.

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Five9 Q3 2021 Earnings Preview

Five9 (NASDAQ:FIVN) is scheduled to announce Q3 earnings results on Monday, November 8th, after market close. The consensus EPS Estimate is $0.23 (-14.8% Y/Y) and the consensus Revenue Estimate is $146.69M (+30.9% Y/Y). Over the last 2 years, FIVN has beaten EPS estimates 100% of the time and has beaten revenue estimates 100% of the time. Over the last 3 months, EPS estimates have seen 7 upward revisions and 1 downward. Revenue estimates have seen 7 upward revisions and 1 downward. On Sept. 30, Five9 announced that it mutually terminated its merger agreement with Zoom Video Communications (NASDAQ:ZM), which was an all-stock deal valued at $14.7B. The company highlighted significant opportunity ahead as a standalone company after it did not receive the required number of votes from it shareholders to approve the merger.

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Monday.com soars to record high ahead of earnings release, up nearly 190% since June IPO

mrgao/iStock via Getty Images Monday.com (NASDAQ:MNDY) soared more than 15% Tuesday to a post-IPO record close one day before the workplace-software firm plans to release earnings for only the second time since going public. MNDY rose as much as 17.4% to hit an intraday record $450 before pulling back to end the session at $444.70, up 16% on the session and 186.9% since the firm’s IPO priced at $155 on June 9. The latest run-up came some three months after MNDY’s first post-IPO earnings report in August saw the stock rise 45% over the two sessions following the release. MNDY beat analyst estimates back in August for Q2 revenues and non-GAAP earnings per share, but missed on GAAP EPS. Still, the stock not only gained 45% in the sessions immediately after the August report, but has risen another 24.9% since then. MNDY has enjoyed a warm reception on Wall Street ever since its IPO priced well above the offering's expected $125-$140/share range in June. The stock rallied 15%+ on its first trading day and has kept right on rising. Monday.com (MNDY) offers a flagship Work OS system that allows client companies to build software applications and work-management tools for their IT, CRM, marketing and other operations. Clients range from Coca-Cola (NYSE:KO) to NBC. MNDY's go-public deal included $75 million private placements with both Zoom Communications (NASDAQ:ZM) and a unit of Salesforce.com (NYSE:CRM). The company also had pre-IPO backing Insight Venture Partners, Stripes and an affiliate on Entree Capital. Seeking Alpha contributor Michael Wiggins De Oliveira analyzes MNDY's prospects here.

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Remote work revolution: Portugal bans employers from contacting staff after-hours

SDI Productions/E+ via Getty Images As working from home becomes part of the future, and not just a passing trend, countries are passing new labor laws to adapt to the development. The shift away from the office started in the years prior to the pandemic, but COVID-19 seems to have cemented those arrangements into place. According to a survey by Owl Labs and Global Workplace Analytics, 1 in 4 workers would even quit their job if they could no longer work remotely after the pandemic (an additional 19% were undecided). Microsoft indefinitely delays U.S. return to the office. Enter Portugal: New rules passed in the country will see companies face fines for contacting workers outside of their normal working hours. Employers will also have to help pay for costs incurred by remote working, such as electricity and internet bills, but can write them off as a business expense. With regards to privacy, firms will also be forbidden from monitoring their employees while they work from home, though many of the laws will not apply to companies with fewer than ten employees. Going further... Barring a few exceptions, parents of young children will have the right to work from home without having to arrange it in advance with their employers (up until their child turns eight years old). Measures to tackle loneliness are also included in the remote working rules, with companies charged with organizing face-to-face meetings at least every two months. "Telework can be a game changer if we profit from the advantages and reduce the disadvantages," said Portugal's Minister of Labor Ana Mendes Godinho, adding that the new environment could attract foreign remote workers and digital nomads. Work from home stocks and ETFs: Zoom (NASDAQ:ZM), RingCentral (NYSE:RNG), DocuSign (NASDAQ:DOCU), Slack (NYSE:CRM), Microsoft Teams (NASDAQ:MSFT), Google (GOOG, GOOGL), Box (NYSE:BOX), Atlassian (NASDAQ:TEAM), Workiva (NYSE:WK), Dropbox (NASDAQ:DBX), Twilio (NYSE:TWLO) and Direxion Work From Home ETF (NYSEARCA:WFH). Compare YTD returns and other metrics here. Could it happen in America? Portugal isn't the only country modernizing its labor laws, with France, Spain, Belgium, Italy, India and Argentina all implementing work requirements like the "right to disconnect." However, the U.S. has historically put a focus on productivity, profits and the bottom line above everything else, according to Julie Kashen of The Century Institute, and "I just don't see it as a frontier right now." For example, paid family and medical leave has struggled to get through Congress for decades, and was most recently removed from President Biden's American Families Plan as Democrats tried to pare costs of the $1.75T social spending package due to opposition from Sen. Joe Manchin and Krysten Sinema (former President Donald Trump also sought a paid leave proposal in his budget).

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Catalyst watch for next week: Zoom Video and Best Buy earnings, Merck R&D Day and UiPath event

franckreporter/iStock via Getty Images Welcome to Seeking Alpha's Catalyst Watch - a breakdown of some of next week's actionable events that stand out. Check out Saturday morning's regular Stocks to Watch article for a full list of events planned for the week or the Seeking Alpha earnings calendar for companies due to report. Monday - November 22 Volatility watch - Options trading spiked higher this week on Bitfarms (NASDAQ:BITF), IonQ Inc. (NYSE:IONQ) and Lucid Group (NASDAQ:LCID). Stocks generating strong interest on Reddit's WallStreetBets include Coinbase Global (NASDAQ:COIN) and PayPal Holdings (NASDAQ:PYPL), while AMC Entertainment (NYSE:AMC) is the most cited stock on Stocktwits. Short interest positions are elevated on Romeo Power (NYSE:RMO) and Wayfair (NYSE:W) heading into next week. All day - It is a slow week for investor conferences, but some notable companies from the sports betting sector will be making an appearance at the Needham Consumer Tech/E-Commerce Virtual Conference. Names to watch for interesting news include Esports Technologies (NASDAQ:EBET), DraftKings (NASDAQ:DKNG) and Penn National Gaming (NASDAQ:PENN). Esports Technologies CEO Aaron Speach has tipped off that his conversations could cover acquisition plans, growth strategies and advanced technologies. All day - IPO quiet periods expire on Globalfoundries (NASDAQ:GFS), Fluence Energy (NASDAQ:FLNC), Informatica (NYSE:INFA), Rent the Runway (NASDAQ:RENT), Solo Brands (NYSE:DTC), Arteris (NASDAQ:AIP), Augmedix (NASDAQ:AUGX) and Marpai (NASDAQ:MRAI). GlobalFoundies could attract the most attention from analysts after striking a semiconductor partnership with Ford (NYSE:F). All day - IPO lock-up periods expire on Flywire (NASDAQ:FLYW) and Paymentus Holdings (NYSE:PAY). Shares of Flywire are up 75% from where the IPO priced, while Paymentus is up more than 40%. All day - Merck (NYSE:MRK) is scheduled to hold a R&D call. Shares of Merck have gained three of the last four days it held a similar event. 10:00 a.m. The latest report on existing home sales arrives with Bank of America expecting a disappointing number. The firm forecasts existing home sales for October to drop to 6.10M from 6.29M previously and land below the consensus estimate of 6.20M. BofA notes that some potential buyers have temporarily paused their home search to resume in 2022. Postmarket - Zoom Video (NASDAQ:ZM), Urban Outfitters (NASDAQ:URBN) and Arrowhead (NASDAQ:ARWR) all report earnings with options implying moves up or down of at least 9%. All three stocks fell last time around on earnings day. Morgan Stanley thinks Zoom shares could rally this time if the update on small-medium business churn is better than anticipated. Tuesday - November 23 All day - IPO quiet periods expire on HireRight (NYSE:HRT), Udemy (NASDAQ:UDMY), Entrada Therapeutics (NASDAQ:TRDA), Sonendo (NYSE:SONX), AirSculpt Technologies (NASDAQ:AIRS), Aura Biosciences (NASDAQ:AURA) and Biofrontera (NASDAQ:BFRI). Tracking by Seeking Alpha indicates that 60% of recent quiet period expirations led to a one-day drop for shares. 39% of those stocks were down double digits a week later. All day - The four-day Milan Motorcycle Show begins amid an increase in interest over potential electric vehicle announcements. Harley-Davidson (NYSE:HOG) is expected to use the event to highlight the European launch of the company's updated LiveWire brand. Kawasaki is expected to unveil its fully-electric motorcycle, while new electric offerings from Soriano Motori and startup Vmoto are also anticipated. Niu Technologies (NASDAQ:NIU) has also teased a big announcement. Within the EV sector, Niu Technologies trades with one of the biggest discounts to the average analyst price target. All day - Lockups expire for Day One Biopharmaceuticals (NASDAQ:DAWN), Figs (NYSE:FIGS) and Singular Genomics Systems (NASDAQ:OMIC). Premarket. Organigram Holdings (NASDAQ:OGI) and Genius Sports (NYSE:GENI) both report earnings with options trading implying a swing up or down of 20%. Both stocks beat consensus marks on their last earnings report days. 8:00 a.m. Best Buy (NYSE:BBY) holds its earnings call. Some analysts are warning that a beat-and-raise quarter is already priced in with shares of BBY up 15% over the last six week. That could raise the stakes of management's tone on the post-pandemic setup for 2022 and any potential margin headwinds. Postmarket - Clearsign Technologies (NASDAQ:CLIR) reports earnings with the options activity on the stock being flagged for being unusually high. Wednesday - November 24 All day - It is the due date for the SPAC deal between East Stone Acquisition (NASDAQ:ESSC) and JHD Holdings to close. JHD is a Chinese merchant enablement services platform. All day - UiPath (NYSE:PATH) holds its Together World Tour event in Amsterdam. The company is looking to boost its international presence. All day - Hedgeye holds an investor call to talk about the top long idea call it made on RH (NYSE:RH). The firm sees a path for RH to more than triple to $2,000 per share. The Seeking Alpha Quant Rating on RH flipped to Bullish last month. All day - Lockup expirations for Centessa Pharmaceuticals (NASDAQ:CNTA) and Zivo Bioscience (NASDAQ:ZIVO). 8:30 a.m. - Durable goods orders report...Durable goods orders likely rose by 0.7% mom in October after a 0.3% decline in September. The rebound should reflect a few factors, including: (1) rising prices, (2) a Hurricane payback, (3) and better motor vehicle orders. On the first point, PPI for durable goods rose by 0.1% mom in October and averaged a 0.8% mom increase in the prior six months. Since orders are reported nominally, some of the increase will owe to the surge in durable goods prices. Meanwhile, we learned from the industrial production report that there was a pretty sizeable positive effect from the reversal of the Hurricane effects and motor vehicle production rose rapidly 2:00 p.m. - FOMC minutes land on the lap of investors. There is expected to be some analysis on the level of discomfort of FOMC officials with the latest inflation figures and any indications if they see inflation as sustainable. Thursday - November 25 All day - The U.S. market is closed for the Thanksgiving Day holiday. Friday - November 26 All day - While Black Friday is not quite as critical to the retail sector as it once was with Cyber Monday attracting increased attention and companies like Amazon (NASDAQ:AMZN) pulling their Black Friday sales forward all the way up to early October, but early reports on sales trends could push share prices around. In the runup to the big shopping period, Bank of America reports that clothing spending at brick and mortar stores was up 18.6% in comparison to the pre-pandemic level seen in 2019. Stocks that saw share price jumps last year after their Black Friday sales were reported as strong included GoPro (NASDAQ:GPRO), NexTech AR Solutions (OTCQB:NEXCF), Etsy (NASDAQ:ETSY), Shopify (NYSE:SHOP) and Amazon (AMZN). All day - Shareholders with Agnico Eagle Mines (NYSE:AEM) and Kirkland Lake Gold (NYSE:KL) vote on the proposed merger to create Canada's largest gold miner. The deal is expected to be approved after landing green lights from at least two proxy advisory firms. All day - Roche (OTCQX:RHHBY) shareholders meet to vote on the buyback proposal tied to the Novartis (NYSE:NVS) divestment. Novartis has agreed to sell back 53.3M Roche bearer shares or roughly 33% of Roche's voting stake for close to $21B. Analysts are expected to weigh in on the implications for both Roche and Novartis.