Dow Futures Slip After Disney Shares Stumble on Weak Subscriber Growth: Live Updates
The stock market seems to be experiencing some instability during this morning’s trading session, with Dow futures slipping after Disney shares stumbled on weak subscriber growth. Here’s what’s been happening in the markets today:
– Dow futures are down 76 points, or 0.22%.
– S&P 500 futures are down 0.18%.
– Nasdaq 100 futures are down 0.21%.
Disney Shares Slip on Weak Subscriber Growth
Disney shares fell 4.5% in premarket trading after the company reported weaker-than-expected subscriber growth for its streaming service, Disney+. The company reported 103.6 million subscribers in its latest earnings report, missing analysts’ expectations of 109 million. This is the second consecutive quarter in which Disney has missed subscriber growth estimates.
Analysts have suggested that the sluggish growth may be due to increased competition from other streaming services, such as Netflix and HBO Max, as well as the reopening of movie theaters after pandemic-related closures.
Other Earnings Reports
Aside from Disney, several other companies have reported earnings this morning. Here’s a breakdown of some of the key reports:
– Palantir Technologies reported better-than-expected first-quarter earnings, with revenue of $341.2 million, beating analysts’ expectations of $332.2 million. The company also raised its full-year revenue guidance.
– Tyson Foods reported disappointing earnings for the second quarter, with earnings per share of $1.34, below analysts’ expectations of $1.41. The company cited rising costs for raw materials and labor shortages as reasons for the miss.
– Marriott International reported stronger-than-expected earnings for the first quarter, with adjusted earnings per share of 10 cents, beating analysts’ expectations of a loss of 3 cents per share. The company credited increased demand for leisure travel as a factor in its success.
Other Market News
In addition to earnings reports, there have been a few other notable pieces of market news this morning:
– Oil prices are up slightly, with Brent crude rising 0.12% and WTI crude rising 0.28%.
– Bitcoin is down 6.8%, trading at just over $51,000 per coin. The cryptocurrency has been experiencing increased volatility in recent weeks, with prices soaring to record highs before plummeting in value.
– US Treasury yields are down slightly, with the 10-year yield falling to 1.59% and the 30-year yield falling to 2.27%.
Overall, the markets appear to be experiencing some uncertainty due to a mix of earnings reports, geopolitical events, and ongoing concerns about inflation. Investors should keep a close eye on these factors in the coming days and weeks to determine the best course of action for their portfolios.