US markets fell; Docusign tanked 42% on Q4 guidance; Beyond Meat shares dipped on investor concerns.
- The Nasdaq fell 1.92% to close Friday’s session at 15,085 points.
- Docusign Inc. tanked 42.22% on Q4 guidance as demand is expected to slow.
- Beyond Meat shares dipped 4% on Friday as investors assess Q3 earnings.
The US markets fell again on Friday on the back of the US nonfarm payrolls data showing the US economy added just 210,000 new jobs in November, following a spike of 546,000 in October. The data renewed investor fears that the Federal Reserve will raise interest rates next year.
Despite missing hiring expectations, the US unemployment rate fell for the month by 0.4% to 4.2%.
The Dow Jones fell 0% to finish the trading day down 60 points to close at 34,580 points .
The tech heavy NASDAQ fell 1.92% to finish the trading day down 296 points to close at 15,085 points
One bitcoin is worth US$49,552 going into the Asian trading day after the world’s largest cryptocurrency tumbled more than 20% on Saturday as investors sold out of risky assets like cryptocurrencies amid the ongoing uncertainty surrounding the Omicron variant of COVID-19.
The Australian dollar is firm against the major currencies and is buying 70.1 US cents.
Docusign Inc. shares tanked 42.22% on Friday after the electronic signature-signing software released Q3 results and provided guidance for Q4 that missed expectations. For the quarter, Docusign reported revenue of US$545m and adjusted EPS of US$0.58/share, beating analysts’ estimates for both metrics. Docusign shares tumbled after the company said it now expects to report revenue of US$557-US$563m in Q4, meaning growth is slowing.
Shares in plant-based meat producer Beyond Meat dipped 4% on Friday as investors assess a return to dining out around the country and in the aftermath of Beyond Meat’s Q3 results. For the period, net revenue in the US declined by 13.9% YoY to US$67.5m and its operating loss nearly tripled to US$54m YoY as expenses spiked.
And Facebook Messenger is entering the personal finance space, unveiling its ‘Split Payments’ feature which allows users to organise and transfer funds to friends for split bills like electricity or dinners.
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