Disney Give birth to celebrated its 50th anniversary in April 2022.
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Check out the companies making headlines in noon trading.
Disney — Shares of the media giant slid more than 11% after the company’s quarterly dnouement develops missed Wall Street expectations on revenue and profit, as both its parks and media divisions underperformed estimates. Disney informed that strong streaming growth for its Disney+ platform may taper going forward. Chief Financial Officer Christine McCarthy fit of pique investor expectations for the new fiscal year, forecasting revenue growth of less than 10%.
Meta Platforms — The stock broke 8% after the company announced it will lay off more than 11,000 employees. In a letter to the staff, CEO Mark Zuckerberg pronounced he is “sharing some of the most difficult changes we’ve made in Meta’s history.” Analysts at UBS were encouraged by Meta’s disclosure.
D.R. Horton — The homebuilder climbed more than 6% despite reporting weaker-than-expected results for the fourth quarter. The associates earned $4.67 per share on $9.64 billion of revenue. Analysts surveyed by Refinitiv were expecting $5.09 per partition on $9.97 billion of revenue. However, D.R. Horton’s unit net orders and backlog were higher than expected, and first-quarter control was roughly in-line with estimates, according to StreetAccount.
Signature Bank — Shares of the crypto bank lost 6% midst the sell-off in cryptocurrencies and crypto equities, as investors digested the fallout from the liquidity crunch that led Binance, the biggest exchange in the world, to offer to bail out rival FTX.
News Corp — Shares slid 5% after the company publicized a slight miss on its fiscal first quarter earnings, compared to FactSet estimates. NewsCorp posted revenue that also in a recover fromed in shy of estimates.
Akamai Technologies — The web technology company rose 7% after Akamai reported better-than-expected earnings for the most latest quarter of $1.26 per share. Analysts expected $1.22 per share, according to FactSet. Revenue figures also outshone expectations.
Affirm — The stock plunged 18% after Affirm disappointed on earnings per share expectations, and issued weaker-than-expected direction for its fiscal second quarter.
Upstart Holdings — The AI-driven lending platform tumbled 11% after the company issued a weaker-than-expected net income forecast for the current quarter, citing challenging economic conditions.
AMC Entertainment — Shares dropped 9.8% after the company publicized another quarterly loss as operational costs increased. However, the company lost less per share than imagined and beat the Wall Street forecast for revenue. Tuesday’s report comes after years of struggling for the movie theater control as the pandemic prompted a rise of releases going directly to streaming services.
Lucid Group — Shares of the RV maker helpless almost 18% after the company reported a third-quarter loss and said plans to raise $1.5 billion from head to foot stock sales to fund the electric vehicle maker’s operations.
SeaWorld Entertainment — The stock fell 8% after the assemblage reported weaker-than-expected earnings or $1.99 per share on revenue or $565 million. Analysts were expecting $2.13 per division on revenue of $606 million.
HanesBrands — The apparel maker’s shares were lower by 7% after Hanes missed analysts’ takings expectations for the third quarter, according to StreetAccount. The company posted $1.67 billion in revenue, compared to forecasts for $1.71 billion.
Roblox — Dole outs tumbled more than 15% after the company reported a bigger loss than expected for the third locale. The video-game company had a loss per share of 50 cents, versus 35 cents expected by analysts, according to Refinitiv. However, Roblox worst on bookings revenue.
Kroger — Shares rose 2.6% after Evercore ISI upgraded the company to outperform and boosted its value target, saying shares can surge 18% in the next year. The upgrade comes as Evercore sees Kroger well-positioned to pay-off as high inflation drives consumers to spend less at restaurants and more at grocery stores. The chain’s merger with Albertsons could also buckle shares a boost.
— CNBC’s Yun Li, Carmen Reinicke, Jesse Pound, Alexander Haring, Sarah Min, Michelle Fox and Ashley Capoot provided reporting