5 things to know before the stock market opens Friday

Leah Millis | ReutersThere’s disagreement in the White House over whether the U.S. and China agreed to roll back tariffs as part of an initial trade deal. White House economic advisor Larry Kudlow told Bloomberg, “If there’s a ‘phase one’ trade deal, there are going to be tariff agreements and concessions.” The notion that tariff relief might be on its way, put forward by Chinese officials, powered the stock market higher Thursday. Disney CEO Bob Iger told CNBC’s Julia Boorstin post-earnings tha


Leah Millis | ReutersThere’s disagreement in the White House over whether the U.S. and China agreed to roll back tariffs as part of an initial trade deal.
White House economic advisor Larry Kudlow told Bloomberg, “If there’s a ‘phase one’ trade deal, there are going to be tariff agreements and concessions.”
The notion that tariff relief might be on its way, put forward by Chinese officials, powered the stock market higher Thursday.
Disney CEO Bob Iger told CNBC’s Julia Boorstin post-earnings tha
5 things to know before the stock market opens Friday Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: matthew j belvedere
Keywords: news, cnbc, companies, york, ceo, house, bloomberg, things, trade, disney, know, white, gap, opens, getty, stock, dow, market


5 things to know before the stock market opens Friday

1. Dow set to open higher, Treasury yields dip after big surge

Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) at the closing bell on October 2, 2019 in New York City. Drew Angerer |Getty Images

The Dow Jones Industrial Average was tracking for a higher open on Wall Street on Friday, a day after another record close. The S&P 500 also finished at a record Thursday. The Dow and S&P 500 were on pace to continue their weekly winning streaks, barring a major sell-off Friday. After just five November trading days, the Dow was already up 2.3% for the month and the S&P 500 was up 1.6%. In the bond market, Treasury yields were steady Friday morning after surging on Thursday the most since the election of President Donald Trump. The 10-year Treasury move brought the yield to its highest level since August. (CNBC)

2. Navarro vs. Kudlow on tariffs future in a ‘phase one’ US-China trade deal

White House trade adviser Peter Navarro listens to a news conference about a presidential executive order relating to military veterans outside of the West Wing of the White House in Washington, March 4, 2019. Leah Millis | Reuters

There’s disagreement in the White House over whether the U.S. and China agreed to roll back tariffs as part of an initial trade deal. Trump trade advisor Peter Navarro told Fox Business on Thursday evening, “There is no agreement at this time to remove any of the existing tariffs as a condition of the ‘phase one’ deal.” White House economic advisor Larry Kudlow told Bloomberg, “If there’s a ‘phase one’ trade deal, there are going to be tariff agreements and concessions.” The notion that tariff relief might be on its way, put forward by Chinese officials, powered the stock market higher Thursday.

3. Disney shares soar on strong earnings days ahead of streaming service launch

The Walt Disney Company Chairman and CEO Bob Iger Kimberly White | Getty Images Entertainment | Getty Images

Dow stock Walt Disney was soaring 6% in the premarket after the media and theme park giant reported late Thursday quarterly earnings and revenue that beat expectations. The results come just days before the launch of the Disney+ video streaming service. Disney CEO Bob Iger told CNBC’s Julia Boorstin post-earnings that Disney+ is “ready to go” for Tuesday’s rollout. Iger also said Disney+ will be distributed on Amazon’s Fire TV. Amazon said its customers can sign up for a seven-day free trial before being charged $6.99 per month.

4. Gap CEO steps down and retailer warns about its full-year outlook

Pedestrians pass in front of a GAP store in New York. Scott Mlyn | CNBC

Gap shares were sinking about 9% in premarket trading after the struggling retailer said after the bell Thursday that CEO Art Peck is stepping down. Robert Fisher, son of Gap’s founders, is taking the job on an interim basis. Gap also warned on full-year guidance. Peck, who was CEO since 2015, announced in February plans to split the retailer into two publicly traded companies in 2020 — one company would house its faster-growing Old Navy brand, while the second would include Gap, Banana Republic and its other brands such as Athleta.

5. Mike Bloomberg inches closer to joining the presidential race

Former New York City Mayor and founder of Bloomberg Philanthropies Mike Bloomberg Jim Watson | AFP | Getty Images

Billionaire businessman Mike Bloomberg is preparing to enter the Democratic presidential primary. However, NBC News reports that the move does not necessarily mean Bloomberg, 77, was announcing a campaign. A top advisor to Bloomberg released a statement, saying the former New York City mayor wants to see Trump defeated and grows “increasingly concerned that the current field of candidates is not well positioned to do that.” Bloomberg had been a registered Republican and independent, as well as a Democrat. He re-registered as a Democrat a month before the party took back the House of Representatives in the 2018 midterm election.


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: matthew j belvedere
Keywords: news, cnbc, companies, york, ceo, house, bloomberg, things, trade, disney, know, white, gap, opens, getty, stock, dow, market


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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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Jim Cramer on veterans, Zillow and Gap

Jim Cramer on veterans, Zillow and GapCNBC’s Jim Cramer gives a preview of tonight’s ‘Mad Money’ military special. He also discusses the departure of Gap CEO Art Peck.


Jim Cramer on veterans, Zillow and GapCNBC’s Jim Cramer gives a preview of tonight’s ‘Mad Money’ military special.
He also discusses the departure of Gap CEO Art Peck.
Jim Cramer on veterans, Zillow and Gap Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08
Keywords: news, cnbc, companies, jim, peck, tonights, military, gap, zillow, veterans, special, preview, cramer, money


Jim Cramer on veterans, Zillow and Gap

Jim Cramer on veterans, Zillow and Gap

CNBC’s Jim Cramer gives a preview of tonight’s ‘Mad Money’ military special. He also discusses the departure of Gap CEO Art Peck.


Company: cnbc, Activity: cnbc, Date: 2019-11-08
Keywords: news, cnbc, companies, jim, peck, tonights, military, gap, zillow, veterans, special, preview, cramer, money


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Gap’s Old Navy spinoff plans in doubt with CEO Art Peck out

Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City. Gap Inc.’s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck. With Peck’s abrupt departure, analysts are doubting a looming split of Old Navy and Gap will go through, especially with the Old Navy brand in such poor shape. Until recently, Old Navy had been the star of Gap’s portfolio, bringing in about $8 billion in annual sales. “With the CEO d


Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City.
Gap Inc.’s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck.
With Peck’s abrupt departure, analysts are doubting a looming split of Old Navy and Gap will go through, especially with the Old Navy brand in such poor shape.
Until recently, Old Navy had been the star of Gap’s portfolio, bringing in about $8 billion in annual sales.
“With the CEO d
Gap’s Old Navy spinoff plans in doubt with CEO Art Peck out Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: lauren thomas
Keywords: news, cnbc, companies, ceo, planned, apparel, options, spinoff, old, navy, gap, spin, plans, doubt, think, gaps, peck, sales, art


Gap's Old Navy spinoff plans in doubt with CEO Art Peck out

Traffic passes by an Old Navy and GAP stores in Times Square, March 1, 2019 in New York City.

Gap Inc.’s plans to spin off its once-star Old Navy brand are being called into question with the ouster of CEO Art Peck.

The San Francisco-based apparel retailer announced Thursday evening that Peck has stepped down from the position he had held since 2015. Peck has been replaced temporarily by Robert Fisher, son of Gap’s founders Donald and Dorothy Fisher.

With Peck’s abrupt departure, analysts are doubting a looming split of Old Navy and Gap will go through, especially with the Old Navy brand in such poor shape.

Gap shares were down 7% Friday morning. The stock as of Thursday’s market close had tumbled nearly 30% this year. Gap is valued at roughly $6.9 billion.

The company announced in February it planned to split Gap into two publicly traded companies — Old Navy and Gap, which would still have been led by Peck and would include Banana Republic and athletic performance brands Athleta and Hill City. The separation had been scheduled to be completed next year.

Until recently, Old Navy had been the star of Gap’s portfolio, bringing in about $8 billion in annual sales. It has been successful at offering basic apparel like white tees, jeans and logo hoodies at lower prices, rivaling the likes of T.J. Maxx and Ross Stores.

Today’s shoppers have countless options for finding less-expensive apparel online and at fast-fashion players like H&M, which recently reported a return to sales growth. Shopping at second-hand merchants and clothing rental options are also cutting into apparel sales.

Gap said Thursday that same-store sales fell 4% companywide in the third quarter, including a disappointing 4% drop at Old Navy.

“We have to think this new development will make the original timeline of the planned Old Navy separation extremely difficult,” Evercore ISI analyst Omar Saad said in a note to clients.

“An already skeptical market is going to have a hard time embracing [a] fundamentally challenged Gap/Banana Republic combination without a leader and clearly articulated turnaround plan,” he added.

“What about the spin?!” RBC Capital Markets analyst Kate Fitzsimons said. “With the CEO departure, while there is no update on the Old Navy spin planned for 2020, we think the board may be re-evaluating their options.”


Company: cnbc, Activity: cnbc, Date: 2019-11-08  Authors: lauren thomas
Keywords: news, cnbc, companies, ceo, planned, apparel, options, spinoff, old, navy, gap, spin, plans, doubt, think, gaps, peck, sales, art


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Growing internet uptake could risk widening gender inequality

As internet rollout continues to gain pace in developing countries, experts have warned that it could risk perpetuating and even exacerbating existing gender inequalities. New research from the International Telecommunication Union, which is a United Nations specialized agency, found that despite rising global internet penetration, a subsequent digital gender gap could potentially hinder women’s access to education, healthcare and other government services. The digital gender gap is defined as t


As internet rollout continues to gain pace in developing countries, experts have warned that it could risk perpetuating and even exacerbating existing gender inequalities.
New research from the International Telecommunication Union, which is a United Nations specialized agency, found that despite rising global internet penetration, a subsequent digital gender gap could potentially hinder women’s access to education, healthcare and other government services.
The digital gender gap is defined as t
Growing internet uptake could risk widening gender inequality Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: karen gilchrist
Keywords: news, cnbc, companies, uptake, growing, inequality, gender, globally, digital, gap, according, access, risk, men, womanthat, widening, womens, internet


Growing internet uptake could risk widening gender inequality

As internet rollout continues to gain pace in developing countries, experts have warned that it could risk perpetuating and even exacerbating existing gender inequalities.

New research from the International Telecommunication Union, which is a United Nations specialized agency, found that despite rising global internet penetration, a subsequent digital gender gap could potentially hinder women’s access to education, healthcare and other government services.

The digital gender gap is defined as the gap between men and women’s access to technology.

Today, some 4.1 billion people globally — or 53.6% of the population — have access to the internet. Yet, according to the ITU, that accessibility is significantly skewed in favor of men. Globally, 58% of all men have access to the internet, versus less than half (48%) of woman.

That gap is especially visible in Asia Pacific, Africa and the Arab States, where, according to the report, it is growing.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: karen gilchrist
Keywords: news, cnbc, companies, uptake, growing, inequality, gender, globally, digital, gap, according, access, risk, men, womanthat, widening, womens, internet


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Gap shares tumble after CEO Art Peck steps down and retailer issues weak forecast

Gap Inc. shares tumbled in extended trading Thursday after the company said CEO Art Peck will be stepping down immediately, and be replaced by the founders’ son temporarily. Gap, which has been struggling to revive its sales, also slashed its forecast for the year, citing a “challenging quarter.” Peck has served as CEO since 2015 and worked at Gap for almost 15 years. Under Peck, Gap has closed hundreds of stores. Gap also named Bobby Martin, chair of its compensation and management development


Gap Inc. shares tumbled in extended trading Thursday after the company said CEO Art Peck will be stepping down immediately, and be replaced by the founders’ son temporarily.
Gap, which has been struggling to revive its sales, also slashed its forecast for the year, citing a “challenging quarter.”
Peck has served as CEO since 2015 and worked at Gap for almost 15 years.
Under Peck, Gap has closed hundreds of stores.
Gap also named Bobby Martin, chair of its compensation and management development
Gap shares tumble after CEO Art Peck steps down and retailer issues weak forecast Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: lauren thomas christina cheddar berk, lauren thomas, christina cheddar berk
Keywords: news, cnbc, companies, gap, sales, weak, quarter, cents, peck, trading, retailer, shares, steps, company, ceo, forecast, tumble, issues


Gap shares tumble after CEO Art Peck steps down and retailer issues weak forecast

Gap Inc. shares tumbled in extended trading Thursday after the company said CEO Art Peck will be stepping down immediately, and be replaced by the founders’ son temporarily.

Gap, which has been struggling to revive its sales, also slashed its forecast for the year, citing a “challenging quarter.” Its shares sank more than 7% in after-hours trading on the news.

Robert Fisher, currently the company’s non-executive chairman, will serve as CEO on an interim basis. He previously served as interim CEO in 2007.

Peck has served as CEO since 2015 and worked at Gap for almost 15 years. In February, Peck announced plans to split the retailer into two publicly traded companies in 2020 — one company would house its faster-growing Old Navy brand, while the second would be led by Peck and oversee Gap, Banana Republic and its other brands such as Athleta.

CFO Teri List-Stoll said the quarter was hurt by “macro impacts” and slower foot traffic, which “further pressured results that have been hampered by product and operating challenges across key brands.”

The clothing retailer said third-quarter company-wide same-store sales fell 4%, compared with flat growth a year ago. It said sales at the Gap brand were down 7% during the latest quarter, they dropped 3% at Banana Republic and declined 4% at Old Navy.

Gap warned third-quarter net income to range between 50 cents and 52 cents a share. On an adjusted basis, it expects to earn 34 cents to 36 cents a share.

For the year, the company now expects to earn between $1.70 and $1.75 a share, down from a prior range of $2.05 to $2.15 a share.

It’s set to deliver a complete earnings report for its fiscal third quarter on Nov. 21.

The poor performance is the latest in a string of bad news for the retailer. While its stock initially surged on the spinoff plans earlier this year, shares are down more than 30% since January, bringing its market value to $6.8 billion.

Under Peck, Gap has closed hundreds of stores. But his efforts haven’t been enough to bring back the strong performance the company enjoyed in the 1990s under Mickey Drexler.

Gap also named Bobby Martin, chair of its compensation and management development committee, as its lead independent director.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: lauren thomas christina cheddar berk, lauren thomas, christina cheddar berk
Keywords: news, cnbc, companies, gap, sales, weak, quarter, cents, peck, trading, retailer, shares, steps, company, ceo, forecast, tumble, issues


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Stocks making the biggest moves after hours: Zillow, Disney, Gap and more

Zillow reported revenue of $745 million, compared to the $718 million Wall Street expected, according to Refinitiv consensus estimates. The company lowered its full-year earnings guidance range to between $1.70 and $1.75 per share, compared to the earnings of $2.07 per share analysts expected. For its third quarter, the retailer expects adjusted earnings between 34 cents and 36 cents per share, while analysts expected earnings of 55 cents per share, according to Refinitiv consensus estimates. Th


Zillow reported revenue of $745 million, compared to the $718 million Wall Street expected, according to Refinitiv consensus estimates.
The company lowered its full-year earnings guidance range to between $1.70 and $1.75 per share, compared to the earnings of $2.07 per share analysts expected.
For its third quarter, the retailer expects adjusted earnings between 34 cents and 36 cents per share, while analysts expected earnings of 55 cents per share, according to Refinitiv consensus estimates.
Th
Stocks making the biggest moves after hours: Zillow, Disney, Gap and more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: ganesh setty
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Stocks making the biggest moves after hours: Zillow, Disney, Gap and more

Check out the companies making headlines after the bell:

Zillow shares surged 14% during extended trading after the online real estate website posted a third-quarter revenue beat. Zillow reported revenue of $745 million, compared to the $718 million Wall Street expected, according to Refinitiv consensus estimates. That revenue amounted to a 117% year-over-year increase. The company’s adjusted EBITDA of $15.8 million also came in well above estimates.

Gap shares sank 10% following the company’s announcement that President and CEO Art Peck will step down, while Robert J. Fisher, who currently serves as non-executive board chairman, will take over as interim president and CEO.

Gap also released full-year guidance, third-quarter guidance and same-store sales figures that were all below estimates. The company lowered its full-year earnings guidance range to between $1.70 and $1.75 per share, compared to the earnings of $2.07 per share analysts expected. For its third quarter, the retailer expects adjusted earnings between 34 cents and 36 cents per share, while analysts expected earnings of 55 cents per share, according to Refinitiv consensus estimates. Total same-store sales, meanwhile, declined to 4% versus the 2.2% dip forecast.

Shares of video game maker Take-Two sank despite the company’s second-quarter revenue beat. Revenue, or net bookings, came in at $951 million versus the $926 million projected, according to Refinitv. Take-Two posted GAAP earnings of 63 cents per share, which were not comparable to analyst estimates.

Shares of Activision similarly slipped despite the company’s better-than-expected earnings in its third quarter. The company reported earnings of 32 cents per share on revenue of $1.21 billion, exceeding the earnings of 23 cents per share on revenue of $1.16 billion analysts expected. Activation’s shares are up about 17% year-to-date.

Teradata shares tumbled more than 17% after the bell following news that CEO Oliver Ratzesberger is leaving the company and resigning from the board. Victor Lund, the executive chairman of the company’s board of directors, was appointed interim president and CEO. Teradata also issued weak fourth-quarter guidance and sharply lowered its full-year earnings guidance. In its third quarter, the company reported earnings of 32 cents per share excluding certain items on revenue of $459 million, falling short of the 40 cent EPS and $486 million in revenue analysts expected, according to Refinitiv.

Disney shares climbed nearly 6% during extended trading after the company posted a fourth-quarter earnings beat. The media and entertainment behemoth posted earnings of $1.07 per share on revenue of $19.10 billion, exceeding the earnings of 95 cents per share and revenue of $19.04 billion analysts forecast. The earnings beat comes days before Disney’s streaming service, Disney+, will be launched on Nov. 12.

Dropbox shares whipsawed after the bell, eventually settling near its closing price following third-quarter earnings that topped expectations. The cloud storage company posted earnings of 13 cents per share on revenue of $428 million, exceeding the 11 cent EPS and revenue of $423 million anticipated, according to analysts polled by Refinitiv. Dropbox lost 4 cents per share on a GAAP basis, higher than the 1 cent per share loss from a year ago.

Shares of Booking Holdings rose more than 4% following the company’s mixed third-quarter earnings. The parent company of travel services like Priceline and Kayak reported earnings of $45.36 per share, exceeding the earnings of $44.57 per share analysts expected. Revenue came in at $5.04 billion, falling shy of the $5.07 billion consensus estimate, according to Refinitiv.


Company: cnbc, Activity: cnbc, Date: 2019-11-07  Authors: ganesh setty
Keywords: news, cnbc, companies, gap, earnings, making, companys, stocks, share, expected, cents, analysts, million, moves, hours, company, biggest, revenue, zillow, shares, disney


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4M Cybersecurity workers needed globally to close skills gap

4M Cybersecurity workers needed globally to close skills gapCompanies are having a hard time hiring for cybersecurity roles. CNBC’s Kate Rogers reports on the dicfficulty companies are seeing.


4M Cybersecurity workers needed globally to close skills gapCompanies are having a hard time hiring for cybersecurity roles.
CNBC’s Kate Rogers reports on the dicfficulty companies are seeing.
4M Cybersecurity workers needed globally to close skills gap Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, needed, roles, rogers, hiring, kate, close, globally, cybersecurity, workers, seeing, reports, skills, gap


4M Cybersecurity workers needed globally to close skills gap

4M Cybersecurity workers needed globally to close skills gap

Companies are having a hard time hiring for cybersecurity roles. CNBC’s Kate Rogers reports on the dicfficulty companies are seeing.


Company: cnbc, Activity: cnbc, Date: 2019-11-01
Keywords: news, cnbc, companies, needed, roles, rogers, hiring, kate, close, globally, cybersecurity, workers, seeing, reports, skills, gap


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It would take 100 years for the average employee to earn what their CEO makes in a year

Among the 50 publicly traded companies with the widest CEO-to-worker pay gaps in 2018, the typical employee would have to work at least 1,000 years to earn what their CEO made in one. The IPS analyzed pay data at S&P 500 companies and found that nearly 80% of S&P 500 companies paid their CEO over 100 times more than their median worker pay. But IPS found that retail giant Gap had the widest CEO pay gap of any S&P 500 company. Peter Drucker, often considered the father of modern management scienc


Among the 50 publicly traded companies with the widest CEO-to-worker pay gaps in 2018, the typical employee would have to work at least 1,000 years to earn what their CEO made in one.
The IPS analyzed pay data at S&P 500 companies and found that nearly 80% of S&P 500 companies paid their CEO over 100 times more than their median worker pay.
But IPS found that retail giant Gap had the widest CEO pay gap of any S&P 500 company.
Peter Drucker, often considered the father of modern management scienc
It would take 100 years for the average employee to earn what their CEO makes in a year Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-10-25  Authors: abigail hess
Keywords: news, cnbc, companies, ratio, employee, companies, ceo, pay, 100, gap, ceotoworker, average, earn, median, worker, walmart, ips, makes


It would take 100 years for the average employee to earn what their CEO makes in a year

Among the 50 publicly traded companies with the widest CEO-to-worker pay gaps in 2018, the typical employee would have to work at least 1,000 years to earn what their CEO made in one. The IPS reports that among these companies, 88% of median workers were considered part-time, and 31% worked in “low-wage” countries such as China and Mexico.

The IPS analyzed pay data at S&P 500 companies and found that nearly 80% of S&P 500 companies paid their CEO over 100 times more than their median worker pay. Nearly 10% of companies paid their median worker below the poverty line for a family of four which is approximately $27,000 in the United States.

A report from the Institute for Policy Studies highlights just how extreme pay inequality is between CEOs and workers.

These 50 companies with the largest CEO-to-worker pay ratios include 24 blue-chip corporations, and they span sectors. Three of the companies with the largest gaps in pay are in the automobile industry, five are in tech hardware, five are in fast food and 14 are in retail.

The IPS found that Walmart has a CEO-to-worker pay gap of 1,076 to 1, claiming that Walmart CEO Doug McMillon made $23,618,233 in 2018 while the median pay for a Walmart worker was closer to $21,952 that year.

But IPS found that retail giant Gap had the widest CEO pay gap of any S&P 500 company. Gap’s CEO Art Peck reportedly makes $20,793,939 — 3,566 times as much as the company’s typical worker which is just $5,831, due in part to the fact that the company employs a large number of seasonal employees.

Peter Drucker, often considered the father of modern management science, believed that a healthy CEO-to-worker pay ratio was around 25-to-1.

Gap responded to CNBC Make It with a statement:

Gap Inc.’s CEO pay ratio largely reflects the composition of our employee base. Of our approximate 135,000 employees, about 100,000 of them are sales associates, of that number, 97% are part-time. Our median employee for fiscal year 2018 is a part-time sales associate in Maryland who made $5,831 last year. Gap Inc. is proud of the opportunities we provide our associates. We pay all of our associates competitively. Given the composition of our workforce, we do not believe the pay ratio calculation required by the SEC provides a complete picture of our compensation practices – nor does it reflect the high value we place on our employees.

As the country’s largest private employer, Walmart’s large scale puts the behemoth retailer in a similar position as Gap.

Representatives for Walmart say the ratio does not capture the additional ways that Walmart compensates employees, such as benefits, nor the pay increases Walmart has implemented over the past several years.

“If you look at the ratio, what we believe is missing is the level of investment we’ve made in our associates over the past few years to increase wages and develop training and education programs that allows them to build a career,” Randy Hargrove, senior director of national media relations for Walmart tells CNBC Make It. “We’ve invested $4.5 billion in multiple programs, and we’ve raised our starting wages in the U.S. by more than 50% in the last four years.”


Company: cnbc, Activity: cnbc, Date: 2019-10-25  Authors: abigail hess
Keywords: news, cnbc, companies, ratio, employee, companies, ceo, pay, 100, gap, ceotoworker, average, earn, median, worker, walmart, ips, makes


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