It is the 19th of August 2019

News

Disney Slides On Earnings Miss, Declining ESPN Revenue And Viewership, Layoffs

Disney is sliding after hours after another poor quarter, in which the Mickey Mouse company which recently severed relations with Netflix, reported a miss on the top and the bottom line, reporting Q4 EPS of $1.07, down 3% from the $1.10 a year ago, and below the $1.14 expected. The number would have been even worse had the company used the 34.3% effective tax rate it had one year ago instead of the lower 30.8% rate it used this quarter. The revenue miss was even worse, with DIS generating $12.78BN in Q4, 3% below a year ago, and over half a billion below the $13.32BN expected. Total operating income declined by 11% to $2.8BN from $3.2Bn a year ago, while free cash flow remained flat at $2.7 billion.

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Apple Soars To $900BN In Mkt Cap After Crushing Earnings And iPhone X Guidance

While Apple gets a freebie in the current (fourth fiscal) quarter, as it came just before the official release of the iPhone 8 and X, traders were still looking at overall trends and guidance from Tim Cook on what to expected from the all important holiday quarter. What they got was just what they requested, with Apple not only reporting a beat on the top and bottom line, including the first positive quarter in China in one and a half years, but also providing strong iPhone X guidance for a record holiday quarter, which promptly sent the stock price surging over 3% in the after hours, now just $100 billion away from $1 trillion in market cap.

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Amazon Soars Above $1,000 After Smashing Expectations

Amazon has done it again, and following a lukewarm second quarter and with Goldman warning not to get too excited going into earnings, Amazon is back to its short-crushing ways, reporting both revenues and EPS which blew away expectations.  In Q3, Amazon reported EPS of 52 cents, unchanged from a year ago (due to fudging the company's tax rate) and beating consensus estimates of 4 cents, on net sales of $43.7 billion, also well above the $42.19 billion consensus estimate, entirely due to the contribution of AWS.  It was also above the high end of the company's own range, which topped out at $41.75 but did not include Whole Foods, which deal closed on August 28. That said, AMZN EPS expectations as recently as July were $1.09.

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Netflix Jumps After Smashing Subscriber Expectations, Unveils $17 Billion In Content Commitments

After some initial confusion, Netflix stock surged after hours, a repeat of what it did last quarter, soaring above its all time high price, up over 2% after reporting Q3 numbers which while beating slightly on revenues ($2.99Bn, Exp. $2.97Bn), and beating modestly on non-GAAP EPS (GAAP EPS$0.29, non-GAAP EPS $0.37, exp. $0.32), were far more remarkable for the subscriber numbers, which smashed expectations as follows:

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Tesla Slumps As Model 3 Disappoints Despite "All-Time Best Quarter" For Model S, X Deliveries

Three months after Tesla disappointed shareholders by missing "bigly" on Q2 deliveries, Elon Musk has learned from his mistake, and reported Tesla's "all time best quarter" for Model S and X deliveries in Q3, with a total of 26,150 vehicles, more than the 25,000 expected, of which 14,065 were Model S and 11,865 were Model X, reversing the Q2 drop in the car which has received increasingly mixed consumer reviews.

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Fedex Tumbles After Missing Revenue, EPS, Guiding Lower; Blames Hackers, Harvey

The earnings season is starting off on the back foot for global trade as moments ago, the company considered the world's logistics bellwether, Fedex, reported revenue and earnings that both missed badly.

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