Diamonds and Dogs
Scholastic (SCHL) having a good day following earnings. The publisher of textbooks and children's titles is up 6% today after easily beating expectations as sales rose 6.5% to $232.6 million. The beat was due in part to two children's best sellers, Dav Pilkey's "Dog Man, For Whom the Ball Rolls" and Tui Sutherland's "Wings of Fire, The Poison Jungle." The CEO said Scholastic titles held six of the top eight spots on the Children's Fiction list in the first quarter.
Roku (ROKU) having a tough week. The TV streaming platform is down 12% today and down 20% this week on concerns of increase competition. An analyst over at Pivotal Research put a sell rating on the stock with a $60 price target or 50% below current levels. The analyst sees more competition emerging that will likely drive the cost for their devices to zero and put material pressure on advertising revenue splits with the cable providers. Not a good sign for a company still losing money. Netflix (NFLX) is down 5% today on similar concerns of increase competition.
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