E Earnings Update: Newbies Suffer, Mostly

Several recent IPOs reported earnings after Tuesday's market club, notably Etsy (ETSY) and LendingClub (LC), plus relative newcomer (late 2011) Zillow (Z). Another newbie, OnDeck Capital (ONDK), reported after Monday's close. All trade on the cachet of online-focused business...and all have investors nervous.

OnDeck didn't say what investors wanted to hear about loan origination yesterday, and cut its guidance; as a result, the stock tumbled 21.75% today. The stock is now less than half its IPO price.

Similarly-modeled Lending Club caught the OnDeck flu today, dropping as much as 7% to a new low before recovering a bit into the close. However, it reported generally positive earnings results this evening and is up 5.23% after hours - but at $14.55 it's still close to half its IPO price.

Etsy, which has been on a mostly downward rollercoaster ride since its April IPO, reported decent numbers but is cautious in their guidance. The stock, which dropped about 6% on the day, is down another 14.4% after hours to $16.46 (vs IPO-day high of $30).

Zillow, which has been on a long slow downward slide in August, losing almost $10/share since July 31st close, dropped another 3% today on pre-earnings nerves, but the report seems to have made folks happy. The stock is up almost 15% after hours, to $85, recouping all the August losses. Keep in mind, though, that this is a stock that spent a good chunk of last year over $125.

We're looking forward to seeing what spin the analysts and talking heads put on these results once they've had time to digest them tomorrow.


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Shiela J. Ramey 1 year ago Member's comment

Good earnings alert.