CE 100 Index Gains Ground on Porch Group’s 51% Rally

The CE 100 Index rallied by 2.2% this past week, starting the last month of trading in 2024 on a positive note.

The Live segment stood out here, jumping by more than 7.2%.

Within that pillar of the CE 100 Index, Porch Group’s share surged more than 51%.  The company’s investor day event this past week noted that the homeowner’s total addressable market is growing at a 6% CAGR, and may be worth as much as $235 billion by 2030.  The company’s revenue target for 2026 stands at $245 million, with 80% gross margins.  The company also said that it sees a path to at least $600 million in gross written premiums by 2026.

Docusign shares gathered more than 34%, pushing the Work segment of the CE 100 6.3% ahead.  The company’s most recent earnings report detailed that revenues of $754.8 million were up 8% year on year. Billings increased 9% year-over-year to $752.3 million.  New customer growth was 11% higher, and at the end of the third fiscal quarter, the company had 1.6 million customers. Docusign’s investor materials indicated that international growth stood at 14% and that revenue streams gleaned abroad comprised 28% of the consolidated top line.

The Enablers Group was 4.7% ahead, and Amazon’s stock roared 9.2% higher, having said this week that Amazon saw record sales and a record number of items sold during its Black Friday Week and Cyber Monday holiday shopping event. The company’s event ran from Nov. 21 through Monday (Dec. 2) and was bigger than any previous 12-day period ending on Cyber Monday, Amazon said on Tuesday.  The shopping event was also the largest ever for independent sellers in Amazon’s store, with these sellers accounting for more than 60% of sales during this 12-day period.

Alphabet shares were up by 3.6%, as — in the wake of the Consumer Financial Protection Bureau’s order that Google be placed under federal supervision — a Google spokesperson told PYMNTS in an emailed statement that Google is suing the CFPB and Rohit Chopra, in his official capacity as director of the CFPB.  The firm is alleging “a clear case of government overreach involving Google Pay peer-to-peer payments, which never raised risks and is no longer provided in the U.S., and we are challenging it in court,” per the statement.

Adyen and Affirm Boost the Pay and Be Paid Segment

Adyen shares, gaining 8.2% and, Affirm shares, up 2.7%, helped lead payments-focused names 1.5% higher overall.

As reported by PYMNTS this past week, Adyen and QuickBooks maker Intuit have forged a partnership designed to help small and medium-sized businesses (SMBs) in the U.K. more easily manage electronic payments.  The companies plan to initially integrate Adyen’s embedded payment services into Intuit’s business platform through QuickBooks Online, which allows approximately 2.9 million invoices to be sent monthly in the U.K.

Separately, and as also noted last week,  Affirm has partnered with eight more merchants to help their shoppers use flexible pay-over-time options. Consumers in the United States can now select Affirm as a payment option at checkout at Agape Diamonds, Discount Tire, Ever/body, FullBeauty, Garmin, Hotels.com, Living Spaces and Sweetwater, Affirm said.  Affirm’s global network has grown by 20% year over year to include more than 320,000 merchant partners.

The aforementioned gains were blunted a bit by Sezzle’s 14.2% decline, retracing at least some of the triple digit gains seen in the wake of earnings posted last month.

Mastercard shares gave up 0.8%. In an announcement,  Equifax and Mastercard have partnered to provide fraud management tools to businesses in Latin America, excluding Brazil.

This collaboration will make these tools available to Mastercard business customers in Latin America — including financial institutions, payment service providers, acquiring banks and merchants — through Equifax’s Kount Payment Fraud solution, the companies said. These tools — including Mastercard Identity, Ethoca Alerts and Ethoca Consumer Clarity — provide identity verification, fraud risk assessment, order validation and alerting services.

In the Be Well Segment of the CE 100 Index, which gave up 4.1%, healthcare names fell, led by United Healthcare, off 10%, in the wake of the killing on Wednesday of CEO Brian Thompson. Teledoc Health’s stock gave up 8%, and AetnaCVS shares were 7.5% lower.