– Advertisement – Shares of Square surged 13% on Friday after blowing past Wall Street’s expectations for the quarter a day earlier.The San Francisco-based payments company reported a 140% increase in net revenue to $3.03 billion in the third quarter. Adjusted earnings came in at 34 cents, more than double what analysts polled by Refinitiv expected.The Square Cash app was a key driver of the strong results, and of analysts’ enthusiasm. The payments and banking app more than tripled its gross profits from a year ago, and made up almost half of the company’s total gross profit of $794 million.- Advertisement – The app began as a peer-to-peer payment option, similar to PayPal’s Venmo. But Square has since launched multiple bank-like products that piggyback on the app, including cryptocurrency and stock trading, that have driven stronger unit economics and profitability than Venmo. The results were a hit among multiple Wall Street analysts who recommended the stock to clients on Friday. Citi, Cannacord Genuity, Needham, Mizuho and Susquehanna upgraded price targets on Square after the break-out quarter. In a note to clients, Citi analyst Peter Christiansen called Square’s growth opportunity “too big to ignore.”Lisa Ellis of Moffett Nathanson maintained her “buy” rating on Square but increased earnings estimates through 2021. Despite the stock’s run-up this year and “rather elevated investor expectations,” the company managed to “beat by a mile,” Ellis said in a note to clients.- Advertisement – Guggenheim’s Jeff Cantwell highlighted potential for Square to mimic the success of China’s Alipay, writing that “Square should build Cash App into a super app.” Dan Dolev of Mizuho pointed to growth in the Cash App’s brokerage feature, and said the app showed it “can also be Robinhood,” referring to the popular free-trading app.The boom in Cash App offset relatively slower growth in Square’s core seller business that provides in-person payments at brick and mortar locations, such as coffee shops. Small businesses who rely on Square’s payment terminals have been hit especially hard during the pandemic. But the seller business sustained “its remarkable rebound,” Moffett Nathanson’s Ellis said, with gross profits up 12% from the year-ago quarter.The stock is up 217% year to date, and has gained 28% in the past week alone. Twitter and Square CEO Jack Dorsey speaks during a press event at CES 2019 on January 9, 2019 in Las Vegas, Nevada.David Becker | Getty Images News | Getty Images – Advertisement –
By Lonnie WheatleyDODGE CITY, Kan. – With the opening two nights of action in the books at Dodge City Raceway Park, attention shifts to the variety of events slated for the approaching month of May.The state-of-the-art facility in southwest Kansas offers up a little something for everybody in May with Late Models and Sprint Cars taking to the 3/8-mile clay oval along with the track’s always exciting championship chase divisions. Championship point action for the IMCA Xtreme Motor Sports Modifieds, IMCA SportMods and IMCA Sunoco Stock Cars on May 3 will be complemented by the first Late Model event at DCRP since the 2011 season as the MARS DIRTcar Series squares off with the forces of the NCRA Late Model series.Sanctioned Modifieds, SportMods and Stock Cars are on the card again on May 10, along with Hornets and the season-opening event for the United Rebel Sprint Series.Finally, rounding out the month of May at DCRP is the May 24 championship chase event featuring a full card of IMCA Modifieds, SportMods and Stock Cars, plus the Thunder Cars and Hornets.The month of May is part of a blockbuster season of racing action at Dodge City Raceway Park that includes 15 nights of competition. Highlighting the schedule is the World of Outlaws Sprint Cars Boothill Showdown on July 4-5 along with a variety of special events for Sprint Cars, Late Models, Modifieds, Sport Modifieds and Stock Cars along the way.Season passes are available for all 13 nights of DCRP competition (excluding the World of Outlaws Boothill Showdown) for $140. Contact the track at 620 225-3277 for season passes.
Despite a rare Monday practice for No. 18 USC, the most pertinent story that emerged wasn’t even something that happened on the practice field. For the first time this season, an opponent has provided some highly-publicized bulletin-board material.Friendly rivals · Washington coach Steve Sarkisian served as USC’s quarterbacks coach when Lane Kiffin was the offensive coordinator. – Photo courtesy of The Daily of the University of WashingtonFollowing his team’s 34-17 loss to No. 7 Oregon on Saturday, Washington defensive coordinator Nick Holt was asked by reporters about the Huskies’ matchup with the Trojans this Saturday at the Coliseum.“We’ll be OK against these guys,” Holt said. “I’d rather play against USC than Oregon quite honestly.”Statistically, that makes enough sense. Oregon ranks seventh nationally in total offense; USC is 26th. The Ducks rack up 46 points-per-game — good for sixth nationally. USC is 32nd in the country, scoring at a 33.4 points per game clip.“You could ask every defensive coordinator in our conference the same question and they’d tell you the same thing: Oregon is hard to prepare for because of how unique they are,” Washington coach Steve Sarkisian said. “That doesn’t mean ’SC is not very good. They’re a tremendous offensive football team and I think [Holt] would agree with that.”Holt is a former USC linebackers coach and defensive coordinator who headed to Washington along with Sarkisian in 2009.Holt’s quote was posted all around Heritage Hall on Monday, along with an added message that is slightly paraphrased: “I know how to stop them.”At the bottom there’s an asterisk, making it known that “[By the way] — Washington gave up 484 (yards) including 298 rushing last (year) to USC.”It is unknown who posted the sign, and USC, for now, isn’t speaking out on the issue.“I don’t make much of it,” USC coach Lane Kiffin said. “We have great respect for those guys and their staff and their players. They can say whatever they want. They beat us, two years in a row. So they can say whatever they want.”For Kiffin, playing the Huskies could be construed as personal. He and Sarkisian were the top offensive assistants during former USC coach Pete Carroll’s tenure, and the two have maintained a close friendship since Kiffin’s departure to the NFL in 2007.Kiffin, however, did not explicitly admit to a personal rivalry.“This isn’t about Sarkisian or Kiffin. We want to beat Washington because they beat us,” Kiffin said. “We want to win every game that we play, especially when you feel like you had a game that we could have won. Like the Notre Dame game, you do have a sense from your players that you’d like to get those back because you felt you could have won them with so many opportunities and you have to wait a whole year to have a chance again.”Sarkisian, by and large, echoed similar sentiments.“It’s a healthy friendship and a healthy rivalry,” he said. “We’re both competitive guys who like to win not for us individually but for our teams, our kids and our coaches.”—Senior middle linebacker Chris Galippo will again not start against the Huskies on Saturday, his spot having been usurped by true freshman Lamar Dawson.“[This is] just another something else that I kind of have to deal with in my career now,” Galippo said. “I’m not going to feel sorry for myself. I’m going to come out here every day and prove what type of linebacker I am.”According to Kiffin and linebackers coach Joe Barry, Galippo was understandably upset when he was informed of his demotion to second-string.“He wasn’t happy with it,” Barry said. “[But] I was happy [about that]. We’d have a big problem if he was OK with it. He struggled early on last week after we told him about it. But he came out and had a great practice on Wednesday and a great practice on Thursday and played well on Friday.”Barry said the depth chart isn’t “set in stone,” but “written in dry-erase marker,” meaning it is subject to change at any time.“Lamar is still the starter, Chris is still the backup,” Barry said. “They’re both going to play, they’re both going to rotate. We’re going to go week to week.”—Senior defensive tackle DaJohn Harris did not practice Monday, junior safety Jawanza Starling and freshmen linebackers Dion Bailey and Hayes Pullard “did not do much,” according to Kiffin.Freshman receiver Marqise Lee and sophomore receiver Robert Woods were also limited, as was senior tailback Marc Tyler.“The only good thing is we are a day ahead,” Kiffin said. “As we go throughout the week, hopefully they all will be back.” Trevor Wong contributed to this report.