Shoppers looking to decorate their homes keep coming back to Wayfair (W), sending shares of the online furniture retailer up 28% Wednesday as existing customers made more repeat purchases and second-quarter results came in above views. Although it remains unprofitable, the recent IPO’s active customer base jumped 53.5% to 4 million by the end of the quarter. During its earnings call, management attributed the quick growth rate to both ongoing
CyberArk Software flew past Wall Street estimates with its second-quarter earnings Tuesday and issued upbeat guidance, showing strong industry demand for data security. The Israel-based developer of network security software said earnings per share minus items more than doubled to 19 cents from 9 cents a year ago. That shattered the 6 cents analysts had modeled. Revenue jumped 70% to $36.4 million, beating the consensus estimate of
The battle for the hearts and wallets of Chinese consumers got more intense Monday, with Alibaba Group making a wide-ranging deal that takes aim at JD.com. Alibaba (BABA), China’s No. 1 provider of e-commerce platforms and services, will pay $4.63 billion for 19.99% of Suning Commerce, one of the largest consumer electronics retail chains in China. It has more than 1,600 stores in 289 cities. The move puts Alibaba in direct