News of the day of November 14, 2024
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Disney (SAY) Stocks Jump After Reporting Revenue and Adjusted Profits That Beat Estimates; October Producer Price Index (PPI) the figures are awaited; Super microcomputer (SMCI) stocks fall after server marker again delays filing financial reports; Cisco Systems (CSCO) stocks fall after networking giant reports decline in profit and revenue; THE International Energy Agency (IEA) The country is raising its oil demand growth projections for 2024 while reducing its forecast for 2025 due to weak Chinese demand. U.S. stock futures were little changed, but the dollar continued its post-election gains against the euro, pound sterling and yen. Here’s what investors need to know today.
Stock of the Walt Disney Company (SAY) are up 9% in premarket trading after the media giant reported revenue and adjusted profit that beat analyst estimates. The company reported revenue of $22.57 billion, up from $21.24 billion last year and just above $22.50 billion. analysts were waitingaccording to Visible Alpha. After accounting for approximately $1.5 billion in one-time charges such as restructuring costs, Disney adjusted earnings per share (EPS) came in at $1.14, just above estimates of $1.11. Disney’s streaming business reported $253 million in operating profit after recording a profit for the first time last quarter.
Following yesterday’s publication of Consumer Price Index (CPI)investors will watch the release at 8:30 a.m. ET on Producer price index (PPI) focused on wholesale trade. Economists interviewed by The Wall Street Journal And Dow Jones Newswires project that wholesale prices increased by 0.2% in October compared to the previous month. The report comes as the CPI shows inflation at the consumer level. checked higher last month. Federal Reserve officials cut their benchmark interest rate by a quarter point last week. Economists expect the central bank to continue making cuts in the near future as long as inflation remains under control and the labor market is resilient.
Super microcomputer (SMCI) the actions are 11% drop in pre-market trading after the server manufacturer said it would delay the filing of its first quarter financial report. The delay comes after the company said in October that it could not predict when it would file its 2024 annual report, a requirement it must meet to comply with Nasdaq. SEO rules. The company’s reporting delays stem from the resignation of its auditor EY last month, which had previously flagged problems with the server maker. corporate governance and internal controls.
