The New York Stock Exchange welcomes the Walt Disney Company (NYSE: DIS) on Tuesday, May 4, 2021, in honor of Star Wars Day.
Find out which companies are making the headlines in midday trading.
Disney – The media giant’s share price fell 2.6% after missing streaming revenue and subscriber estimates. Disney earnings of 79 cents per share, well above the 27 cents per share expected by Wall Street, according to Refinitiv. The company had sales of $ 15.61 billion, without an estimate of $ 15.87 billion. Disney missed the subscriber estimates for Disney +, with 103.6 million paying subscribers. It should show 109 million.
DoorDash – Shares of the food delivery company jumped 22.5% after the company improved its outlook for 2021. DoorDash raised its annual order value forecast to between $ 35 billion and $ 38 billion, passing from an earlier range of $ 30 billion to $ 33 billion. The company said delivery drivers were in short supply, but consumer demand was stronger than expected.
Airbnb – Shares of the vacation rental company jumped 4% after the company reported better-than-expected quarterly revenue. The company reported first quarter revenue of $ 887 million, beating a Refinitiv projection of $ 714 million. While Airbnb has consistently recorded a net loss for the quarter, it also showed year-over-year improvement in a key earnings indicator. Wells Fargo improved the overweight stock evenly following the earnings report.
Snowflake – Shares of the software company jumped 11.6% after Goldman Sachs upgraded it to buy from a third party, saying the world was still in the “relatively early sleeves” of the move to the cloud, giving Snowflake a significant advantage.
Churchill Downs – The casino and gaming company’s shares jumped 4.7% after Jefferies improved the stock to buy on hold. The firm said Churchill Downs was poised for growth in several areas of its business and the recent weakness in the stock was unrelated to fundamentals.
Plantronics – Shares of the company formerly known as Plantronics, now known as Poly, fell 20.4% at midday after the audio and video maker blamed the shortage of semi -conductors for a lower financial forecast. He sees adjusted first-quarter earnings of 35 cents to 55 cents per share on earnings of $ 410 million to $ 450 million, below what analysts had hoped.
Fisker – Fisker shares jumped 5.5% to around $ 10.46 per share after it announced it signed deals with Hon Hai Technology Group, also known as Foxconn, to develop a revolutionary new electric vehicle. Fisker said the segment’s new vehicle will be jointly developed and sold in international markets, including North America, India and China.
Aurora Cannabis – Shares of the cannabis company fell 6.3% after reporting lower than expected revenue in the third quarter, hit by restrictions linked to the pandemic in Canada.
– with reports by Yun Li, Jesse Pound and Tom Franck of TBEN.
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