Not So Sweet Earnings, Uber-Lyfting and Not So Spade-tacular

Crushed by Wall Street…

Image courtesy of digitalart/

Image courtesy of digitalart/

King Digital Entertainment Plc., as you may have heard, is the maker of Candy Crush Saga, the game in which you have apparently lost interest, at least judging by its just released earnings. The mobile game maker missed expectations for its second quarter sales and its daily average users (you, me etc) took a major hit as this quarter saw about 138 million gamers while last quarter 143 million users were depleting their cellphone batteries playing games. The Dublin-based company has been watching its stock deflate by 19% since its much anticipated March debut of $22.50 a share. Net income rose to over $165 million from around $126 million a year earlier. Revenue for the company was over $593 million when $606 million was the number Wall Street wanted to see. And if you are amongst the chosen few, expect to see nice little “special” one time $150 million dividend. “Special” not because you are a high scorer on level 266, but special because you are among the directors, execs and investors. What? You’re not one of them?

Ride-Sharing Service smackdown…

Image courtesy of digitalart/

Image courtesy of digitalart/

It’s Uber vs. Lyft in the ultimate ride-sharing smackdown. The two companies have been hard at work making thousands of  reservations and canceling them on each other. They have been even harder at work blaming one another. Uber’s got about 177 employees who are being accused of booking and canceling over 5000 rides on Lyft. But apparently Lyft upped the ante by booking 13,000 trips. Also at play is the allegation that Lyft’s investors are trying to get Uber to buy Lyft. Hmmm. Too much time on their hands, I wonder?


Image courtesy of John Kasawa/

Image courtesy of John Kasawa/

Kate Spade, once dubbed the poor girl’s Prada has had an interesting Wall Street ride. The stock fell 23% on the very untrendy news that sales for the brand are slowing down. Oddly enough, revenue for the company was up a very healthy 49% to $266 million, easily topping Wall Street’s expectations of $243 million and easily trumping last year’s revenue of $178.9 million. And the stock lost only $4.4 million compared with last year when the brand ate over $43 million in losses. But on Wall Street, especially for a brand like Kate Spade, it’s all about the future and in this case it’s not as cheerful as the brand’s accessories.

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