Stock futures moved higher Thursday as investors again were focused on commentary about interest rates from global central bankers.
The
S&P 500
has closed higher for eight straight days while the
Nasdaq Composite
has extended its winning streak to nine sessions.
These stocks were poised to make moves Thursday:
Walt Disney
(DIS) reported fiscal fourth-quarter adjusted earnings of 82 cents a share, beating analysts’ estimates of 71 cents, as the entertainment giant’s streaming service,
Disney
+, added nearly 7 million “core” subscribers in the period. Disney also announced a more ambitious cost-cutting plan, raising its annualized cost efficiencies target to $7.5 billion, up from a prior target of $5.5 billion. The stock was rising 4.2%.
Shares of
Netflix
(NFLX),
Warner Bros. Discovery
(WBD), and
Paramount Global
(PARA) traded higher after striking Hollywood actors reached a tentative agreement with the major studios and streaming companies. Union members are expected to vote in the coming days to ratify the three-year deal. Warner Bros. was rising 2.5% following a tumble of 19% in the previous session after the company reported a wider-than-expected quarterly loss, largely because of the Hollywood strikes.
Chip designer
Arm Holdings
(ARM) reported fiscal second-quarter adjusted earnings and revenue better than analysts’ expectations but its forecasts for the third quarter and fiscal year were shy of estimates. U.S.-listed shares of Arm, which went public in September, were down 5.9%.
Applovin
‘s (APP) third-quarter earnings of 30 cents a share beat projections of 27 cents as revenue jumped to $864 million from $713 million a year earlier. Shares of
Applovin,
which makes software that helps its customers increase sales with artificial intelligence, were rising 15%.
Affirm Holdings
(AFRM) reported a fiscal first-quarter loss that was narrower than expected and shares of the buy-now-pay-later company rose 13%. Revenue in the period of $497 million beat estimates of $444 million. Total merchandise volume rose 28% year over year to $5.6 billion.
Lyft
(LYFT) reported third-quarter adjusted profit of 24 cents a share, beating Wall Street estimates of 15 cents, and the ride-hailing company said it expected fourth-quarter sales to grow “mid-single-digits quarter over quarter,” higher than Wall Street forecasts. The stock, however, fell 1.1%.
Topgolf Callaway Brands
(MODG), the maker of golf equipment and operator of the Topgolf recreational driving-range chain, reduced its outlook for full-year profit and sales following what it said was a “challenging” third quarter. Shares dropped 20%.
MGM Resorts
(
MGM
) was rising 2.7% after the casino company reported better-than-expected third-quarter revenue and CEO Bill Hornbuckle said a tentative contract was taking shape for 20,000 of the company’s hospitality workers. Las Vegas Strip workers struck a tentative deal with
Caesars Entertainment
(CZR) on Wednesday.
Twilio
(TWLO) was up 5.1% after the cloud-computing company beat Wall Street’s third-quarter earnings estimates and raised its outlook for adjusted income from operations to $475 million to $485 million, up from a previous forecast of between $350 million and $400 million.
U.S.-listed shares of
Li Auto
(LI) rose 2.9% after the Chinese electric-vehicle maker reported swung to a profit in the third quarter and its revenue outlook for the fourth quarter surpassed estimates.
Virgin Galactic
(SPCE) rallied 9% after the space-tourism company said it expects fourth-quarter revenue of around $3 million, higher than estimates of $1.5 million.
Write to Joe Woelfel at [email protected]
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