Stocks making the biggest moves premarket: Disney, Visa, Dean Foods, Tyson Foods & more

DR Horton (DHI) – The home builder beat estimates by 10 cents a share, with quarterly earnings of $1.35 per share. DR Horton also raised its quarterly dividend to 17.5 cents per share from 15 cents a share. Edgewell Personal Care (EPC) – The personal care products maker beat estimates by 2 cents a share, with quarterly earnings of 86 cents per share. Dean Foods said it is currently engaged with Dairy Farmers of America about a potential sale of substantially all company assets. Tyson Foods (TSN)


DR Horton (DHI) – The home builder beat estimates by 10 cents a share, with quarterly earnings of $1.35 per share.
DR Horton also raised its quarterly dividend to 17.5 cents per share from 15 cents a share.
Edgewell Personal Care (EPC) – The personal care products maker beat estimates by 2 cents a share, with quarterly earnings of 86 cents per share.
Dean Foods said it is currently engaged with Dairy Farmers of America about a potential sale of substantially all company assets.
Tyson Foods (TSN)
Stocks making the biggest moves premarket: Disney, Visa, Dean Foods, Tyson Foods & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, quarterly, revenue, biggest, premarket, making, earnings, brew, moves, forecasts, estimates, disney, visa, company, price, tyson, cents, share, dean, foods, stocks


Stocks making the biggest moves premarket: Disney, Visa, Dean Foods, Tyson Foods & more

Check out the companies making headlines before the bell:

Advance Auto Parts (AAP) – The auto parts retailer earned $2.10 per share for its latest quarter, 5 cents a share above estimates. Revenue also beat forecasts, however same-store sales came in slightly below estimates with an increase of 1.2%. The company also announced the addition of another $700 million to its share buyback program.

DR Horton (DHI) – The home builder beat estimates by 10 cents a share, with quarterly earnings of $1.35 per share. Revenue was slightly below Wall Street forecasts. DR Horton also raised its quarterly dividend to 17.5 cents per share from 15 cents a share.

Edgewell Personal Care (EPC) – The personal care products maker beat estimates by 2 cents a share, with quarterly earnings of 86 cents per share. Revenue topped estimates as well. The maker of brands like Schick, Wilkinson, and Playtex also said it had reached an agreement to sell its infant and pet care business.

Dean Foods (DF) – The milk producer filed for Chapter 11 bankruptcy reorganization, intending to use the process to continue ordinary operations and work toward a sale of the company. Dean Foods said it is currently engaged with Dairy Farmers of America about a potential sale of substantially all company assets.

Tyson Foods (TSN) – The beef and poultry producer fell 8 cents a share short of estimates, with adjusted fiscal fourth-quarter earnings of $1.21 per share. Revenue also came in shy of Street forecasts, however Tyson said it is very optimistic about fiscal 2020.

Walt Disney (DIS) – Disney’s new Disney+ service launches today, costing $6.99 per month. Disney has spent over $3 billion on technology and content prior to the highly anticipated launch.

Visa (V) – Visa is buying a “significant minority stake” in Nigerian payments platform Interswitch. Financial details were not disclosed, but Sky News reports Visa bought a 20% stake for $200 million.

Vodafone (VOD) – Vodafone raised its full-year earnings outlook, as growth improves in markets like Spain and Italy that had been troublesome in recent quarters for the mobile operator.

Tencent Music (TME) – The China-based company reported better-than-expected revenue for the third quarter, as the music streaming service added more paying subscribers. Monthly average revenue per paying user was up just 7.4%, however, the slowest rate since the company went public in December.

Craft Brew Alliance (BREW) – Anheuser-Busch (BUD) will buy out the remainder of Craft Brew Alliance that it did not already own for about $321 million, or $16.50 per share. The price is more than double yesterday’s closing price of $7.33 for the Portland-based brewer’s stock. Anheuser-Busch, which owns 31.2% of Craft Brew, had said in August that it would not buy the rest of the company.

Kemet (KEM) – The electronic components company will be bought by Taiwan-based rival Yageo for $1.8 billion, or $27.20 per share. The price represents an 18% premium to Kemet’s Monday closing price.


Company: cnbc, Activity: cnbc, Date: 2019-11-12  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, quarterly, revenue, biggest, premarket, making, earnings, brew, moves, forecasts, estimates, disney, visa, company, price, tyson, cents, share, dean, foods, stocks


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Tyson Foods earnings miss forecasts as slaughterhouse fire hurts beef sales

A package of Tyson Foods Inc. Tyson Foods fell short of Wall Street estimates for quarterly revenue and profit on Tuesday after a fire at a Kansas slaughterhouse hurt sales volumes in its beef business, the company’s biggest segment. As a result, volumes in Tyson’s business fell 4.2% in the fourth quarter to Sept. 28, with sales down 1.3%. Still, profit margins for U.S. beef processors set record highs after the fire as beef prices climbed. Net income attributable to Tyson fell to $369 million,


A package of Tyson Foods Inc.
Tyson Foods fell short of Wall Street estimates for quarterly revenue and profit on Tuesday after a fire at a Kansas slaughterhouse hurt sales volumes in its beef business, the company’s biggest segment.
As a result, volumes in Tyson’s business fell 4.2% in the fourth quarter to Sept. 28, with sales down 1.3%.
Still, profit margins for U.S. beef processors set record highs after the fire as beef prices climbed.
Net income attributable to Tyson fell to $369 million,
Tyson Foods earnings miss forecasts as slaughterhouse fire hurts beef sales Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, margins, beef, volumes, miss, earnings, pork, forecasts, hurts, slaughterhouse, million, sales, tyson, fell, share, foods


Tyson Foods earnings miss forecasts as slaughterhouse fire hurts beef sales

A package of Tyson Foods Inc. Ballpark brand hotdogs are arranged for a photograph in Tiskilwa, Illinois.

Tyson Foods fell short of Wall Street estimates for quarterly revenue and profit on Tuesday after a fire at a Kansas slaughterhouse hurt sales volumes in its beef business, the company’s biggest segment.

Shares of the maker of Ball Park hotdogs and Jimmy Dean sausages fell about 4% before the opening bell. They have gained nearly 55% this year.

Tyson grappled with the fire as the global meat industry focused on increasing sales China, where an outbreak of a fatal pig disease has slashed pork production.

U.S. producers have been hampered due to tariffs imposed by Beijing as part of the countries’ trade war.

The fire at the Holcomb, Kansas, slaughterhouse in August left restaurants, food service companies, and grocery chains scrambling to buy beef from other facilities.

As a result, volumes in Tyson’s business fell 4.2% in the fourth quarter to Sept. 28, with sales down 1.3%. The fire also resulted in $31 million of net incremental costs, the company said.

Still, profit margins for U.S. beef processors set record highs after the fire as beef prices climbed.

At the same time, cattle prices tanked because the fire temporarily eliminated a key buyer of livestock, prompting a U.S. government investigation into the market.

Tyson’s operating margins for beef were 9.7%, up from 8.9% a year earlier. Margins declined in its pork, chicken and prepared foods units.

Excluding items, the company earned $1.21 per share, compared with the average analyst estimate of $1.29, according to IBES data from Refinitiv.

Total sales rose nearly 9% to $10.88 billion on strength in its pork and chicken segments, but missed the average estimate of $11 billion.

Net income attributable to Tyson fell to $369 million, or $1.01 per share, in the fourth quarter to Sept. 28, from $537 million, or $1.47 per share, a year earlier.


Company: cnbc, Activity: cnbc, Date: 2019-11-12
Keywords: news, cnbc, companies, margins, beef, volumes, miss, earnings, pork, forecasts, hurts, slaughterhouse, million, sales, tyson, fell, share, foods


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As retailers gear up for earnings, experts look to unexpected areas of the market for gains

Investors are watching the broad-based sector for a take on consumer strength and to seek out the group’s individual winners. But traditional retailers may not have the run of things this earnings season. U.S. ETFs like the VanEck Vectors Retail ETF (RTH), which tracks 25 of the market’s top retail stocks, are following suit, Kilburg noted. I think Walmart has a chance here on their earnings day on Thursday, so pay attention there and that’s where I want to be long.” “The key is, really, is this


Investors are watching the broad-based sector for a take on consumer strength and to seek out the group’s individual winners.
But traditional retailers may not have the run of things this earnings season.
U.S. ETFs like the VanEck Vectors Retail ETF (RTH), which tracks 25 of the market’s top retail stocks, are following suit, Kilburg noted.
I think Walmart has a chance here on their earnings day on Thursday, so pay attention there and that’s where I want to be long.”
“The key is, really, is this
As retailers gear up for earnings, experts look to unexpected areas of the market for gains Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: lizzy gurdus
Keywords: news, cnbc, companies, think, jacobs, consumer, really, etf, walmart, earnings, look, retailers, gear, market, unexpected, gains, experts, areas, retail, going, kilburg


As retailers gear up for earnings, experts look to unexpected areas of the market for gains

It’s a big week for retail.

Big names like Walmart, J.C. Penney and Burberry are gearing up to deliver their quarterly reports this week, hot off Chinese e-commerce giant Alibaba’s record-breaking Singles Day, which the company has rebranded to the 11:11 Global Shopping Festival. On Friday, Wall Street will also get a read on retail sales when the Commerce Department releases its monthly report.

Investors are watching the broad-based sector for a take on consumer strength and to seek out the group’s individual winners. But traditional retailers may not have the run of things this earnings season.

“Retail is extremely broad,” so buyers may want to think twice before investing in catch-all funds like the SPDR S&P Retail ETF (XRT) as the wave of reports rolls on, said Jay Jacobs, senior vice president and head of research and strategy at Global X ETFs.

“You’re including some very slow-growth areas like automobiles and gasoline and food compared to some very high-growth areas like e-commerce and video games,” Jacobs said Monday on CNBC’s “ETF Edge.” “So, our preference is this is a cyclical space, but you want exposure to the higher-growth areas that are going to have similar cyclicality.”

With that in mind, Jacobs liked the e-commerce and video gaming subsectors for their rapid growth, and gaming in particular for its shift to recurring revenue streams.

Jacobs, whose firm launched the Global X Video Games & Esports ETF (HERO) in October, added that gaming giants Activision Blizzard, Electronic Arts, Take-Two Interactive Software — all of which are in HERO’s portfolio — and Tencent “have been performing very well this year and are really well positioned for the future.”

But it’s still worth having a broader perspective on retail as it relates to the health of the consumer, Jeff Kilburg, founder and CEO of KKM Financial, said in the same “ETF Edge” interview.

“We continue to focus on the China-U.S. trade tariff conversation, but let’s look at the consumer. The consumer has really muted all that noise all year long,” said Kilburg, who has more than two decades of investment experience. “The 11/11 shopping festival formerly known as Singles Day shattered all records, so the consumer’s in really good strength.”

U.S. ETFs like the VanEck Vectors Retail ETF (RTH), which tracks 25 of the market’s top retail stocks, are following suit, Kilburg noted.

“Look at an ETF like RTH. It’s showing a lot of strength above the 50-day, above the 200-day moving averages,” he said. “We’re focused on the earnings. Walmart, Amazon, Costco, all these consumer spending [names] we are really focusing on, and I think investors should have that as a paramount focus as we go out of earnings season.”

Amazon and Costco have already issued their third-quarter and fiscal fourth-quarter results, respectively. Amazon missed earnings estimates and delivered a softer-than-expected forecast, while Costco came in shy of Wall Street’s revenue expectations. Walmart’s report is expected this Thursday before the opening bell.

“I’m going to look at Walmart this Thursday,” Kilburg said. “They’re really moving hard into online to compete with Amazon. So, I like Walmart. I think Walmart has a chance here on their earnings day on Thursday, so pay attention there and that’s where I want to be long.”

Between that and Friday’s retail sales data, this week could be a make-or-break moment for the whole sector, Jacobs said.

“The key is, really, is this going to start to set up a really nice trajectory heading into the holiday season? If we can see something that’s a little bit more positive, I think we’re going to see a lot of confidence in the broader economy going forward,” Jacobs said.

The XRT and RTH both closed down less than 1% on Monday.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: lizzy gurdus
Keywords: news, cnbc, companies, think, jacobs, consumer, really, etf, walmart, earnings, look, retailers, gear, market, unexpected, gains, experts, areas, retail, going, kilburg


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Trump speaks, earnings, bond market: Three things to watch for in the markets on Tuesday

Trump speaks in New YorkPresident Donald Trump speaks to the Economic Club of New York during a luncheon on Tuesday, and investors are hoping for clarity on a possible trade deal. However, President Donald Trump said Friday he has not agreed to cancel tariffs on Chinese goods, dampening hopes about a resolution. Earnings season continuesEarnings season continues on Tuesday with CBS, Nissan, Tyson Foods and Tilray set to report third-quarter earnings. Despite earnings growth estimates falling for


Trump speaks in New YorkPresident Donald Trump speaks to the Economic Club of New York during a luncheon on Tuesday, and investors are hoping for clarity on a possible trade deal.
However, President Donald Trump said Friday he has not agreed to cancel tariffs on Chinese goods, dampening hopes about a resolution.
Earnings season continuesEarnings season continues on Tuesday with CBS, Nissan, Tyson Foods and Tilray set to report third-quarter earnings.
Despite earnings growth estimates falling for
Trump speaks, earnings, bond market: Three things to watch for in the markets on Tuesday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, donald, markets, things, street, 2019, trump, wall, stock, trade, tariffs, bond, speaks, market, watch, stocks, earnings


Trump speaks, earnings, bond market: Three things to watch for in the markets on Tuesday

President Donald Trump makes a statement at the White House following reports that U.S. forces attacked Islamic State leader Abu Bakr al-Baghdadi in northern Syria, in Washington, October 27, 2019. Joshua Roberts | Reuters

Here are the most important things to know about Tuesday before you hit the door.

1. Trump speaks in New York

President Donald Trump speaks to the Economic Club of New York during a luncheon on Tuesday, and investors are hoping for clarity on a possible trade deal. Market participants have been holding on to hopes that a “phase one” trade deal between the U.S. and China will soon be a reality. Trade optimism bolstered by news that the world’s two largest economies agreed to roll back tariffs rallied all three stocks averages to record-highs last week. However, President Donald Trump said Friday he has not agreed to cancel tariffs on Chinese goods, dampening hopes about a resolution. China said on Friday that tariff removal is a requirement for a deal.

2. Earnings season continues

Earnings season continues on Tuesday with CBS, Nissan, Tyson Foods and Tilray set to report third-quarter earnings. SmileDirectClub will post its first earnings report since its initial public offering in September. Despite the stock being down nearly 50% since the IPO, all ten Wall Street analysts that cover the teeth-straightening start-up have a buy rating on the stock. Despite earnings growth estimates falling for the third and fourth quarter of 2019, stocks are hovering around all-time record highs. Some Wall Street analysts said the weak earnings in 2019 are paving the way for a solid 2020 earnings picture, boosting equities.

3. Bond market reopens


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, donald, markets, things, street, 2019, trump, wall, stock, trade, tariffs, bond, speaks, market, watch, stocks, earnings


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It could get worse for one of the worst-performing retailers, traders say

One of the worst-performing retail stocks this year just broke down even more. The stock is down more than 35% for the year, while the XRT retail ETF has climbed 8% over the same stretch. It could get worse for Gap, according to Craig Johnson, chief market technician at Piper Jaffray. “Gap shares are just purely out of fashion at this point in time,” Johnson said on CNBC’s “Trading Nation” on Friday. Erin Gibbs, chief investment officer at Gibbs Wealth Management, also sees Gap as a no-touch sto


One of the worst-performing retail stocks this year just broke down even more.
The stock is down more than 35% for the year, while the XRT retail ETF has climbed 8% over the same stretch.
It could get worse for Gap, according to Craig Johnson, chief market technician at Piper Jaffray.
“Gap shares are just purely out of fashion at this point in time,” Johnson said on CNBC’s “Trading Nation” on Friday.
Erin Gibbs, chief investment officer at Gibbs Wealth Management, also sees Gap as a no-touch sto
It could get worse for one of the worst-performing retailers, traders say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: keris lahiff
Keywords: news, cnbc, companies, retailers, shares, point, worse, gibbs, dont, market, traders, worstperforming, stock, earnings, youre, retail, theres, say


It could get worse for one of the worst-performing retailers, traders say

One of the worst-performing retail stocks this year just broke down even more.

Gap shares tumbled more than 7% on Friday after CEO Art Peck stepped down and the company cut full-year earnings guidance below consensus. The stock is down more than 35% for the year, while the XRT retail ETF has climbed 8% over the same stretch.

It could get worse for Gap, according to Craig Johnson, chief market technician at Piper Jaffray.

“Gap shares are just purely out of fashion at this point in time,” Johnson said on CNBC’s “Trading Nation” on Friday. “You’re back to levels you were at in 2016 and 2011, and it doesn’t look like there’s any indication that a bottom has been made.”

The retailer is also firmly in bear market territory, having fallen nearly 50% from a March high. Shares are considered in a bear market when off more than 20% from 52-week highs.

“On a relative basis, this stock has seriously lagged the overall market. If you go back to 2012, the S&P is up 143% and this stock is still at the same level it was in 2012. I’m not willing to go bottom-fishing here on this stock until there’s clear evidence of some sort of trend change starting to unfold with the shares and at this point in time, you don’t have that. I’m avoiding the shares altogether,” said Johnson.

Erin Gibbs, chief investment officer at Gibbs Wealth Management, also sees Gap as a no-touch stock here.

“When you really look at the fundamentals, even though the valuations are dropping, we’re looking at a 22% decline in earnings over the next 12 months. And even as far out as 2022, you’re still seeing an earnings contraction expected. So their valuation should be going down if you’re actually expecting them to make less money,” Gibbs said during the same segment.

Gap posted a 15% decline in earnings in its recent quarter. For the full year, analysts surveyed by FactSet anticipate a 26% contraction in profit.

Gibbs also doesn’t see the departure of Peck as a point against the company. Board Chairman Robert Fisher, son of Gap’s founders, has been named interim CEO.

Peck’s abrupt departure has raised doubts about plans to spin off Gap’s Old Navy brand.

“I actually don’t see the CEO leaving as a negative thing. I think that was the one hope that they might build a turn-it- around, but now that puts the Old Navy spinoff in question, the one bright spot. You really don’t want to get into the stock right now,” said Gibbs.

Disclaimer


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: keris lahiff
Keywords: news, cnbc, companies, retailers, shares, point, worse, gibbs, dont, market, traders, worstperforming, stock, earnings, youre, retail, theres, say


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Stocks making the biggest moves after hours: DXC Technology, Reata Pharmaceuticals and Grocery Outlet

Check out the companies making headlines after the bell:Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings. DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago. Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance. Grocery Outlet expects same store sales growth of approximately 4.9%, e


Check out the companies making headlines after the bell:Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings.
DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago.
Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance.
Grocery Outlet expects same store sales growth of approximately 4.9%, e
Stocks making the biggest moves after hours: DXC Technology, Reata Pharmaceuticals and Grocery Outlet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: ganesh setty
Keywords: news, cnbc, companies, making, company, earnings, million, store, pharmaceuticals, dxc, stocks, outlet, reata, share, technology, cents, hours, shares, quarter, sales, adjusted, grocery, moves


Stocks making the biggest moves after hours: DXC Technology, Reata Pharmaceuticals and Grocery Outlet

Check out the companies making headlines after the bell:

Shares of DXC Technology plunged 17% during extended trading after the IT company reported second quarter earnings. DXC posted adjusted earnings of $1.38 per share, which represents a nearly 32% decrease from the same quarter a year ago. Revenue came in at $4.85 billion, a 3.2% decrease compared to the same period last year. DXC’s shares are down approximately 45% year to date.

Grocery Outlet shares spiked nearly 8% after the company raised its full year earnings, same store sales and adjusted EBITDA guidance. The supermarket company expects adjusted diluted earnings between 73 cents and 74 cents per share, up from its prior range of 68 cents to 71 cents per share. Grocery Outlet expects same store sales growth of approximately 4.9%, exceeding its prior range of 3% to 4%. The company expects adjusted EBITDA between $167 million and $168 million, also up from its prior range of $162 million to $165.5 million.

In its third quarter, the company posted a same store sales increase of 5.8% and a net sales increase of 13.1%, amounting to $652.5 million. Adjusted EBITDA came in at $44.2 million, representing a 13.2% increase compared to the same quarter a year ago.

Reata Pharmaceuticals shares tanked nearly 8% after the bell following the company’s announcement of promising test results of its drug treating patients with chronic kidney disease. Based on the positive results, Reata said it plans to go forward with seeking regulatory approval for marketing the drug both domestically and internationally. Reata’s shares are up approximately 280% year to date.


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: ganesh setty
Keywords: news, cnbc, companies, making, company, earnings, million, store, pharmaceuticals, dxc, stocks, outlet, reata, share, technology, cents, hours, shares, quarter, sales, adjusted, grocery, moves


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Weak 2019 earnings growth paves the way for a strong 2020 earnings picture, boosting stocks

Another factor propelling the latest rally is the weak earnings in 2019 that will pave the way for a solid 2020 earnings picture. Driven by weakness in large caps like Alphabet, Boeing, Exxon Mobil and Micron the earnings growth estimate has fallen to zero. Exxon Mobil reported a 49% drop in third-quarter earnings on lower oil prices and higher costs. Earnings growth for 2020 has fallen to its lowest estimate in all of 2019, DataTrek Research noted. Kostin said due to China tariffs still in plac


Another factor propelling the latest rally is the weak earnings in 2019 that will pave the way for a solid 2020 earnings picture.
Driven by weakness in large caps like Alphabet, Boeing, Exxon Mobil and Micron the earnings growth estimate has fallen to zero.
Exxon Mobil reported a 49% drop in third-quarter earnings on lower oil prices and higher costs.
Earnings growth for 2020 has fallen to its lowest estimate in all of 2019, DataTrek Research noted.
Kostin said due to China tariffs still in plac
Weak 2019 earnings growth paves the way for a strong 2020 earnings picture, boosting stocks Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, quarter, boosting, paves, strong, earnings, picture, thirdquarter, fallen, wall, trade, war, 2020, way, growth, stocks, 2019, weak


Weak 2019 earnings growth paves the way for a strong 2020 earnings picture, boosting stocks

Traders work after the opening bell at the New York Stock Exchange (NYSE) on August 15, 2019 at Wall Street in New York City. JOHANNES EISELE | AFP | Getty Images

Earnings in 2019 are setting a low bar to clear in 2020, paving the way for stocks to continue their record-setting rally, according to Wall Street strategists. Third-quarter earnings are slated to see a 2.4% drop from last year’s third quarter, according to DataTrek Research. The first and second quarter saw 0.4% declines in earnings from the same periods last year. Plus, the fourth quarter is looking like another tough quarter with analysts estimating a 1.1% fall in earnings from 2018. “Markets rallying to new highs clearly indicates that marginal investors believe 2019’s no-growth earnings will make for easy comps in 2020 if the US-China trade war abates,” said Nicholas Colas, co-founder of DataTrek Research, in a note called “2020: The Year of Easy Earnings Comps.” The Dow Jones Industrial Average, S&P 500 and Nasdaq hit all-time record highs Thursday. A rate cut from the Federal Reserve a week prior and trade war optimism between the U.S. and China contributed to the stock market surge. Another factor propelling the latest rally is the weak earnings in 2019 that will pave the way for a solid 2020 earnings picture.

As forward earnings estimates have fallen since the start of October, stocks have rallied. Analysts expected 3% earnings growth in the fourth quarter on Oct 1. Driven by weakness in large caps like Alphabet, Boeing, Exxon Mobil and Micron the earnings growth estimate has fallen to zero. For the third-quarter, Google’s parent company reported earnings of $10.12 per share, compared to the $13.06 per share earned in the same period of 2018. Boeing reported a more than 50% slide in third-quarter profit, as the aerospace giant maker struggles to recover from two fatal crashes of its top-selling 737 Max aircraft. Exxon Mobil reported a 49% drop in third-quarter earnings on lower oil prices and higher costs. And chipmaker Micron saw a 39% decline in revenue from last year, weighed on by the U.S.-China trade war. Given this weaker data, analysts are estimating EPS to be flat year over year, according to Bank of America. In that time, the S&P 500 has gained nearly 4%. “Commentary on earnings calls has suggested weakening trends, but optimism is building,” said Bank of America equity and quant strategist Savita Subramanian in a note to clients. Earnings growth for 2020 has fallen to its lowest estimate in all of 2019, DataTrek Research noted. At the end of the second quarter this year, Wall Street estimated 12.9% earnings growth for 2020. That has fallen to 9.9%. And Goldman Sachs expects estimates will come down further to about 6% growth in 2020. But the firm said this trend is not problematic for stocks. “Looking into 2020, although consensus expectations for 9% EPS growth appear too optimistic, modest negative revisions should not pose a major risk to the market,” said David Kostin, chief U.S. equity strategist at Goldman Sachs. Kostin said due to China tariffs still in place, 2020 earnings revisions in its China exposure basket have been among the most negative.

What does this mean for valuations?


Company: cnbc, Activity: cnbc, Date: 2019-11-11  Authors: maggie fitzgerald
Keywords: news, cnbc, companies, quarter, boosting, paves, strong, earnings, picture, thirdquarter, fallen, wall, trade, war, 2020, way, growth, stocks, 2019, weak


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Disney pops 4% as streaming hopes trump earnings decline: Market ‘sensing big things are brewing’

Disney shares jumped Friday as excitement around the media giant’s streaming service overshadowed a sharp profit decline for the previous quarter. “The market is sensing big things are brewing in the quarters ahead,” Michael Nathanson, founding partner at MoffettNathanson, said in a note. Steven Cahall, an analyst at Wells Fargo Securities, also expects Disney+ to end the calendar year with 8 million subscribers. Doug Creutz, an analyst at Cowen, expects Disney+ to obtain more than 30 million su


Disney shares jumped Friday as excitement around the media giant’s streaming service overshadowed a sharp profit decline for the previous quarter.
“The market is sensing big things are brewing in the quarters ahead,” Michael Nathanson, founding partner at MoffettNathanson, said in a note.
Steven Cahall, an analyst at Wells Fargo Securities, also expects Disney+ to end the calendar year with 8 million subscribers.
Doug Creutz, an analyst at Cowen, expects Disney+ to obtain more than 30 million su
Disney pops 4% as streaming hopes trump earnings decline: Market ‘sensing big things are brewing’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: fred imbert
Keywords: news, cnbc, companies, analyst, streaming, million, things, decline, disney, earnings, subscriber, subscribers, service, wars, star, trump, disneys, market, pops, sensing, hopes


Disney pops 4% as streaming hopes trump earnings decline: Market 'sensing big things are brewing'

Chief executive officer and chairman of The Walt Disney Company Bob Iger and Mickey Mouse look on before ringing the opening bell at the New York Stock Exchange (NYSE), November 27, 2017 in New York City.

Disney shares jumped Friday as excitement around the media giant’s streaming service overshadowed a sharp profit decline for the previous quarter.

The company posted Thursday an adjusted profit of $1.07 per share. That’s down 28% from $1.48 per share in the year-earlier period. Disney’s earnings did, however, top a Refinitiv estimate of 95 cents a share.

Still, Wall Street analysts glossed over the profit decline as Disney gets set to take on streaming giants such as Netflix at their own game. So far, analysts like Disney’s chances in the streaming wars as it is expected to gobble up subscribers for the $6.99-per-month service, which will be launched Tuesday.

“The market is sensing big things are brewing in the quarters ahead,” Michael Nathanson, founding partner at MoffettNathanson, said in a note. “As we have vividly seen at Netflix, when moving in the right direction, momentum in subscriber growth makes those metrics investors’ sole focus.”

Nathanson has a price target on Disney shares of $150, which represents a 12.8% upside from Thursday’s close of $132.96. Disney shares traded 4.4% higher around $138.

Disney+ will launch next week with hundreds of classic Disney movies, thousands of TV episodes and content that’s exclusive to the platform, including The Mandalorian, a series set in the Star Wars universe.

This content, coupled with recently announced distribution deals with Verizon and Amazon, has led to high subscriber expectations from Nathanson. The analyst expects Disney+ to have about 8 million subscribers around the world by year-end and 18 million by the time the company’s fiscal year 2020 ends.

Nathanson is not the only one expecting strong growth from Disney+. Steven Cahall, an analyst at Wells Fargo Securities, also expects Disney+ to end the calendar year with 8 million subscribers. He also thinks 21 million people will have signed up for the streaming service by the end of Disney’s fiscal year 2020. Doug Creutz, an analyst at Cowen, expects Disney+ to obtain more than 30 million subscribers by the end of fiscal 2021.

Goldman Sachs analyst Drew Borst also thinks Disney’s Star Wars content will help build up Disney+’s subscriber base.

“To demonstrate the scale of the Star Wars fan base, consider that the first two movies in the current Skywalker trilogy – The Force Awakens (2015) and The Last Jedi (2017) – averaged 27 million in domestic movie ticket sales on the opening weekend alone. Assuming those individuals equate to 9 million unique households (i.e., 2.5 individuals/household national average), that represents a meaningful subscriber opportunity for Disney+,” Borst said.

Disney first unveiled its streaming service on April 11. Since then, the stock is up more than 13% and hit a record high in late July.

“DIS’s rerating indicates investors think the strategy will work,” said Wells Fargo’s Cahall in a note. “We agree, and DIS with DTC at scale is extremely profitable due to an owned library, dedicated fan base of recurring viewers, global brand and dominance in the kids/family genre.”

—CNBC’s Michael Bloom contributed to this report.

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Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: fred imbert
Keywords: news, cnbc, companies, analyst, streaming, million, things, decline, disney, earnings, subscriber, subscribers, service, wars, star, trump, disneys, market, pops, sensing, hopes


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Stocks making the biggest moves premarket: Disney, Gap, Zillow, Dropbox, Amazon & more

Check out the companies making headlines before the bell:Walt Disney (DIS) – Disney reported quarterly earnings of $1.07 per share, 12 cents a share above estimates. Activision Blizzard (ATVI) – Activision Blizzard beat estimates by 9 cents a share, with quarterly profit of 32 cents per share. Zillow (Z) – Zillow lost 12 cents per share for the third quarter, smaller than the 21 cents a share loss that Wall Street was anticipating. Dropbox (DBX) – Dropbox came in 2 cents a share ahead of estimat


Check out the companies making headlines before the bell:Walt Disney (DIS) – Disney reported quarterly earnings of $1.07 per share, 12 cents a share above estimates.
Activision Blizzard (ATVI) – Activision Blizzard beat estimates by 9 cents a share, with quarterly profit of 32 cents per share.
Zillow (Z) – Zillow lost 12 cents per share for the third quarter, smaller than the 21 cents a share loss that Wall Street was anticipating.
Dropbox (DBX) – Dropbox came in 2 cents a share ahead of estimat
Stocks making the biggest moves premarket: Disney, Gap, Zillow, Dropbox, Amazon & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, quarterly, forecasts, dropbox, disney, earnings, gave, cents, gap, moves, making, premarket, zillow, share, amazon, revenue, biggest, estimates, quarter, stocks


Stocks making the biggest moves premarket: Disney, Gap, Zillow, Dropbox, Amazon & more

Check out the companies making headlines before the bell:

Walt Disney (DIS) – Disney reported quarterly earnings of $1.07 per share, 12 cents a share above estimates. Revenue also beat forecasts, boosted by a 52% increase in studio entertainment revenue amid a strong movie box office performance.

Booking Holdings (BKNG) – Booking Holdings earned $45.36 per share for its latest quarter, beating the consensus estimate of $44.57 a share. The operator of Priceline and other travel websites saw its revenue come in slightly below Wall Street forecasts, however, and it gave a current-quarter earnings outlook that falls below analysts’ estimates.

Activision Blizzard (ATVI) – Activision Blizzard beat estimates by 9 cents a share, with quarterly profit of 32 cents per share. The video game maker’s revenue was above estimates as well. Activision said it saw record growth in subscriptions during the quarter, thanks in large part to its World of Warcraft: Classic game.

Take-Two Interactive (TTWO) – Take-Two earned $2.02 per share for its fiscal second quarter, above the consensus estimate of $1.69 a share. The video game company’s revenue exceeded forecasts as well. The quarter’s performance was helped by strong results for the company’s NBA, Grand Theft Auto, and Red Dead Redemption games. Take-Two also gave lower-than-expected guidance for the current quarter.

Gap Inc. (GPS) – Gap said CEO Art Peck is stepping down and will be immediately replaced on an interim basis by Robert Fisher, son of the Gap’s founders. That follows several years of sluggish sales for the apparel retailer. The company is also warning of a weaker-than-expected financial performance for the current quarter.

Zillow (Z) – Zillow lost 12 cents per share for the third quarter, smaller than the 21 cents a share loss that Wall Street was anticipating. The real estate website operator’s revenue came in above estimates, and it gave an upbeat forecast as well.

Dropbox (DBX) – Dropbox came in 2 cents a share ahead of estimates, with quarterly profit of 13 cents per share. The cloud storage company’s revenue was also above estimates. The company said it is benefiting from its new desktop app, which was introduced in September, as well as good results from its Dropbox Spaces collaboration software.

Alibaba (BABA) – Alibaba is planning to launch its Hong Kong initial public offering in the last week of this month, according to sources who spoke to Reuters. The China-based online retailer is hoping to raise up to $15 billion in the offering.

Amazon (AMZN) – Amazon has reached a deal with Disney to carry the new Disney+ streaming service on its Fire TV devices.

HP Inc. (HPQ) – HP’s board is not convinced that selling the computer and printer maker to Xerox (XRX) is the right move, according to a Bloomberg report. HP confirmed earlier this week that it had spoken with Xerox about a potential business combination.

Teradata (TDC) – The data analytics company said CEO Oliver Ratzeberger has stepped down “by mutual agreement,” and is being replaced on an interim basis by Executive Chairman Victor Lund. The announcement came as Teradata reported weaker-than-expected earnings and revenue for the third quarter, and sharply lowered its full-year guidance.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: peter schacknow, fred imbert
Keywords: news, cnbc, companies, quarterly, forecasts, dropbox, disney, earnings, gave, cents, gap, moves, making, premarket, zillow, share, amazon, revenue, biggest, estimates, quarter, stocks


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Stocks making the biggest moves midday: Disney, Gap, Take-Two & more

Monster Beverage — Shares of the energy drink maker gained more than 3% after the company beat earnings and revenue estimates for the third quarter. Sales rose 11%, and the company also announced a $500 million share repurchase program. Take-Two Interactive — Take-Two rose 2.3% after reporting a better-than-expected $2.02 per share in profit for its fiscal second quarter. SurveyMonkey — Shares of online cloud-based survey company tanked 9% after the company reported disappointing third-quarter e


Monster Beverage — Shares of the energy drink maker gained more than 3% after the company beat earnings and revenue estimates for the third quarter.
Sales rose 11%, and the company also announced a $500 million share repurchase program.
Take-Two Interactive — Take-Two rose 2.3% after reporting a better-than-expected $2.02 per share in profit for its fiscal second quarter.
SurveyMonkey — Shares of online cloud-based survey company tanked 9% after the company reported disappointing third-quarter e
Stocks making the biggest moves midday: Disney, Gap, Take-Two & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, making, company, share, revenue, stocks, gap, estimates, quarter, earnings, million, shares, cents, midday, reported, disney, taketwo, moves


Stocks making the biggest moves midday: Disney, Gap, Take-Two & more

TORONTO, ONTARIO, CANADA – 2015/05/13: Red Disney signage inside a shopping mall, placed near the ceiling, close to light tracks. (Photo by Roberto Machado Noa/LightRocket via Getty Images)

Check out the companies making headlines in midday trading:

Walt Disney — Disney shares rallied 3.7% in midday trading after it reported quarterly earnings of $1.07 per share, 12 cents a share better than what Wall Street analysts had expected. Revenue also beat forecasts, boosted by a 52% increase in studio entertainment revenue amid a strong movie box office performance. Its long-awaited streaming service, Disney+, is set to launch on November 12.

Monster Beverage — Shares of the energy drink maker gained more than 3% after the company beat earnings and revenue estimates for the third quarter. Sales rose 11%, and the company also announced a $500 million share repurchase program.

Gap — The apparel retailer’s stock fell 7% after the company announced that CEO Art Peck would be stepping down, effective immediately. The company also warned that its results for the current quarter would be weaker-than-expected. The slide in the stock price wiped $466 million from the company’s value.

Zillow — Zillow’s stock popped more than 12% after it reported a loss 12 cents per share for the third quarter, smaller than the 21 cents a share loss for which Wall Street was preparing. The real estate website operator’s revenue came in above estimates, and it gave an upbeat forecast as well.

Take-Two Interactive — Take-Two rose 2.3% after reporting a better-than-expected $2.02 per share in profit for its fiscal second quarter. The quarter’s performance was buoyed by strong demand for its NBA, Grand Theft Auto, and Red Dead Redemption games.

Teradata — Shares of the data analytics software company plunged more than 16% on weaker-than-expected quarterly results. Teradata posted a profit of 32 cents per share on $459 million in revenue. Analysts polled by Refinitiv expected earnings per share of 40 cents on $486 million in revenue. The company also issued soft earnings guidance for the current quarter and announced CEO Oliver Ratzesberger resigned, effective immediately.

Dropbox — Dropbox slid nearly 6% despite better-than-expected earnings. The cloud storage company earned 13 cents per share in the third quarter, 2 cents ahead of estimates, according to Refinitiv. Its revenue also topped estimates. The company said it is benefiting from its new desktop app as well as good results from its Dropbox Spaces collaboration software.

SurveyMonkey — Shares of online cloud-based survey company tanked 9% after the company reported disappointing third-quarter earnings. The company reported a loss of 12 cents per share, while analysts were expecting a loss of 5 cents per share, according to Refinitiv. Revenue came in at $79.3 million, which beat estimates of $77.95 million.

– CNBC’s Yun Li, Pippa Stevens, Fred Imbert and Maggie Fitzgerald contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: thomas franck
Keywords: news, cnbc, companies, biggest, making, company, share, revenue, stocks, gap, estimates, quarter, earnings, million, shares, cents, midday, reported, disney, taketwo, moves


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