US markets fell; Roku tumbled 22% on results & forecast; DraftKings fell 21.6% on Q4 results
- The Nasdaq fell 1.23% on Friday to close the session at 13,548 points.
- Roku plunged 22.3% after Q4 results & Q1 forecast fell short of expectations.
- DraftKings fell 21.6% on Q4 results & warnings of wider losses to come.
The US markets fell again on Friday and posted losses across the key indices for the week as investors continued assessing geopolitical tensions between Russia and Ukraine and the possible global impacts that would result from a war between the two nations.
The Dow Jones fell 0.68% to finish the trading day down 233 points to close at 34,079 points.
The tech heavy NASDAQ fell 1.23% to finish the trading day down 169 points to close at 13,548 points.
One bitcoin is worth US$38,338 going into the Asian trading day.
The Australian dollar is firm against the major currencies and is buying 71.74 US cents.
Roku shares fell 22.3% on Friday in its worst session since 2018 after the digital media manufacturer released fourth-quarter results and a first-quarter guidance that both fell well short of analysts’ expectations. For the quarter, Roku reported revenue of US$865.3m, below expectations of US$894m, and said it expects first-quarter revenue of US$720m which is well short of analysts expectations for revenue of US$748.5m.
Sports betting company DraftKings also plunged 21.6% on Friday after reporting fourth-quarter results and the company warned of larger losses in the coming year. For the period, DraftKings reported a 32% growth in unique paying customers to 2 million, and a new loss of US$326m which beat analysts’ expectations. Management warned of higher losses to come this year as DraftKings enters new markets like New York and Louisiana.
And the US National Highway Traffic Safety Administration is investigating Tesla’s Model 3 and Model Y vehicles built in 2021 and 2022 amid complaints of a ‘phantom-braking’ problem where the vehicle brakes for no apparent reason while driving and in Autopilot mode.
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