markets

Matt Phillips9/17/25

Duolingo slips after Citi analysts trim price target and product announcements receive muted response

Duolingo dropped in early trading after Citi analysts snipped their price target to $375 from $400, citing, in part, some disappointment with announcements at Duolingo’s Duocon convention Tuesday, as well as deceleration in the growth of daily active users (DAUs) that continued into August.

Among other changes, the company announced improvements to its video call service — where language learners can practice their target language with an AI version of Duolingo characters — as well as enhanced offerings of its chess product, which it will expand to Android and offer in more languages, including Chinese.

“This year’s product announcements had a lower profile,” Citi analysts wrote, adding that they still “expect the video call improvements, better engagement drivers, and broader use case for chess to help drive better user growth trends.”

Still, Citi’s analysts pointed to decelerating year-on-year growth in key app metrics like downloads for their price target cut. Data from third-party groups that track app usage shows that the slowdown in the growth rate of daily active users, which seemed to stem from a social media backlash to an artless LinkedIn post from the company, continued through August.

“Duolingo DAU growth trajectory remains [the] key investor debate,” analysts at JPMorgan wrote in a note on Duolingo published Wednesday.

Through the end of August, DAU growth was 25% year on year, according to third-party data. That’s down from 31% in July, JPM said.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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