The question mark at the end of that sentence is usually a yalp by Hank Williams Jr., but this year, well, that sentence is really a question.
In other news, the gods of luxury are at war. Tiffany’s and LVMH just called off a $16.2 billion deal at the “behest” of the French government citing a tariff dispute. Now, the two companies will be appearing in Delaware court as Tiffany’s believes that LVMH is using the trade dispute as a way to get out of the deal. The French government did say they considered the letter “advice” … not a message to prohibit the deal. LVMH clearly wants out of this breakfast date because no one is buying $25,000 diamonds during a pandemic, or, you know, having weddings in general…
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Slack was a big loser yesterday…The company was expected to be a clear hero of the WFH revolution, but instead it is proving to be a major disappointment. According to reports, sales are slow because of a lengthy onboarding process and a learning curve for the software. The stock rocketed upward more than 100% from March to June and has now given back all those gains.
One area that I do expect some real lasting gains is tech education stocks. COVID-19 has upended the backbone of education. New models of learning and online tools will arise to meet basic instructional needs from K-12 to the college classroom. Of course, good teachers are good teachers, so the winners in this space will allow instructors to harness technology to close the gap and enable real tech-driven literacy and learning. We have already highlighted Chegg, the print textbook rental and homework assistance platform. The company is just the beginning of this pedagogical shift and has some strong catalysts in its favor: a growing loyalty with international students and its Study Pack. In addition, we can easily envision a world where students use Chegg after the pandemic has passed. 2U is another stock to watch as it allows universities to bring their class offerings fully online. The company’s sales have increased by 84% in the last three months as more and more universities realize they need online learning—positive coronavirus tests at big state schools will be a news item to watch for this stock. I have highlighted more in education tech stocks in my picks below.
Lastly, here are some earnings we are watching:
- Chewy (after market close)
- Oracle (after market close)
- Peloton (after market close)
Below you can find some of the most notable stocks to watch today.
ZVO has a nice mix of online universities, physical campuses, and digital tutoring services. The stock has doubled YTD and we think there is more room for growth with a university enrollment season ahead that is going to be like no other.