Friday’s Headlines: Disney Stock Shines
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Nautilus (NLS) +5.8%
Sea Limited (SE) +5.7%
Zoom Communications (ZM) +3.7%
Baozun (BZUN) +3.7%
Datadog (DDOG) +3.7%
Moving Down ⬇️
ShotSpotter (SSTI) -8.7%
Tripadvisor (TRIP) -6.5%
Wynn Resorts (WYNN) -5.5%
Wix (WIX) -5.5%
Ctrip (TCOM) -4.5%
1. Walt Disney (DIS) smashed Q4 estimates off the back of growing its Disney+ subscriber base to 73 million. The House of Mouse stock jumped 6% yesterday as revenue of $14.71 billion smashed expectations of $14.20 billion. Losses per share came in at $0.20, versus $0.71 predicted. CFO Christine McCarthy announced Disney would forgo its semi-annual dividend in January to fund Disney+ content. Park closure restrictions resulted in losses of operating income of $2.4 billion in Q4, with Disney saying it was “extremely disappointed” in decisions to keep Disneyland California closed. Studio entertainment revenue was down 52% (YoY), whilst media networks brought in $7.21 billion, up 11% (YoY). Read the full Press Release here.
2. Palantir (PLTR) reported 52% growth in sales in its first earnings report since it went public this year. The software and analytics company recorded losses of $0.94 per share on revenue of $289.4 million, versus $279.4 million expected. Palantir stated its “customer concentration is decreasing,” as it now gets smaller percentages of revenue from clients, 61% of its revenue in the first nine months of 2020 came from 20 customers. Its stock plunged almost 9% during the trading day yesterday. The big analytics company scored some big contracts in Q3, a $91 million deal with the U.S. Army, and a $300 million aerospace renewal contract. Read the Press Release here.
3. Americans can keep dancing as the U.S government announced yesterday it will delay the ban of TikTok, granting it a temporary pardon in its battle against the Trump administration. TikTok, owned by Chinese company ByteDance, was facing restrictions effectively barring it from U.S. app stores which were due to take effect on Thursday. ByteDance now has more time to reach a deal with Walmart or Oracle to restructure U.S ownership of TikTok. Trump’s administration believed that the app posed national security concerns as data on 100 million American users could be obtained by the Chinese government. TikTok, the fastest growing social media platform in 2020, denies all allegations. Read more here.
1 more earning from last night:
Israeli software company Wix.com reported revenue of $236.1 million, up 27% (YoY) as it experienced a 62% surge in demand for its business solutions. However, it generated an adjusted net loss of $0.26 per share, compared with an adjusted profit of $0.24 which analysts expected.
Get this week’s full calendar here.