{"id":66213,"date":"2023-02-09T08:57:53","date_gmt":"2023-02-09T13:57:53","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66213"},"modified":"2023-02-09T08:57:53","modified_gmt":"2023-02-09T13:57:53","slug":"coffee-with-greta-disney-pops","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/02\/09\/coffee-with-greta-disney-pops\/","title":{"rendered":"Coffee With Greta: Disney Pops"},"content":{"rendered":"

DJIA Futures: <\/b>+214 (+0.6%)<\/span><\/p>\n

SPX Futures: <\/b>+32 (+0.8%)<\/span><\/p>\n

NASDAQ Futures: <\/b>+156 (+1.2%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are higher with Disney shares popping after strong earnings.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Disney Beats Fiscal Q1 Expectations, Unveils Restructuring<\/span><\/h2>\n

Walt Disney <\/b>(DIS) shares are rallying 6.1% ahead of the open after beating fiscal Q1 expectations. <\/span><\/p>\n

Here\u2019s how the entertainment giant\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

    \n
  • Adjusted EPS: $0.99 vs $0.78 expected<\/span><\/li>\n
  • Revenue: $23.51 billion vs $23.37 billion expected<\/span><\/li>\n
  • Disney+ Subscriptions: 161.8 million vs 161.1 million expected<\/span><\/li>\n<\/ul>\n

    This is the first earnings report released by Disney since CEO Bob Iger resumed his executive role.\u00a0<\/span><\/p>\n

    In a statement, Iger said, \u201cWe believe the work we are doing to reshape our company around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, better position us to weather future disruption and global economic challenges, and deliver value for our shareholders.\u201d<\/span><\/p>\n

    Disney also announced plans to reorganize into three segments and cut thousands of jobs.\u00a0<\/span><\/p>\n

    Those divisions will be:\u00a0<\/span><\/p>\n

      \n
    • Disney Entertainment<\/span><\/li>\n
    • ESPN\u00a0<\/span><\/li>\n
    • Parks, Experiences, and Products Unit<\/span><\/li>\n<\/ul>\n

      The company is also laying off 7,000 employees, representing about 3% of its workforce.\u00a0<\/span><\/p>\n

      Affirm Drops On Earnings Miss, Company Announces Layoffs<\/span><\/h2>\n

      Affirm <\/b>(AFRM) shares are tumbling 15.4% in premarket trade after missing fiscal Q2 earnings on the top and bottom line.<\/span><\/p>\n

      Here\u2019s how the buy now, pay later company\u2019s results compared to analysts\u2019 expectations:\u00a0<\/span><\/p>\n

        \n
      • Loss per share: $1.10 vs $0.95 expected<\/span><\/li>\n
      • Revenue: $400 million vs $416 million expected<\/span><\/li>\n<\/ul>\n

        The CEO said, \u201cA key operational misstep contributing to these results is that we began increasing prices for our merchants and consumers later in the year than we should have, and this process has taken us longer than we anticipated.\u201d<\/span><\/p>\n

        Affirm also announced it is cutting 19% of its workforce, effective immediately.<\/span><\/p>\n

        The company expects $360 million to $380 million in fiscal Q3 revenue vs $418 million expected.\u00a0<\/span><\/p>\n

        For the full year, Affirm forecast $1.475 billion to $1.550 billion in revenue, down from its previous outlook for $1.6 billion to $1.675 billion.<\/span><\/p>\n

        Price Hikes Boost PepsiCo Earnings<\/span><\/h2>\n

        PepsiCo <\/b>(PEP) shares are up 1.5% ahead of the open after beating Q4 expectations on the top and bottom line.\u00a0<\/span><\/p>\n

        Here\u2019s how the beverage maker\u2019s results compared to analysts\u2019 estimates:\u00a0<\/span><\/p>\n

          \n
        • Adjusted EPS: $1.67 vs $1.65 expected<\/span><\/li>\n
        • Revenue: $28 billion vs $26.84 billion expected<\/span><\/li>\n<\/ul>\n

          That beat came even as sales volume fell but consumers paid higher prices for PepsiCo snacks and drinks.<\/span><\/p>\n

          Volume dropped 7% at Quaker Foods North America and fell 2% at its North American beverage division.<\/span><\/p>\n

          PepsiCo expects 8% growth in earnings this year vs analysts\u2019 expectations for 7.3% growth.\u00a0<\/span><\/p>\n

          The company also announced a 10% increase to its annual dividend and plans to repurchase $1 billion worth of shares this year.<\/span><\/p>\n

          Weekly Jobless Claims Rise More Than Expected<\/span><\/h2>\n

          Weekly jobless claims rose more than expected in early February.\u00a0<\/span><\/p>\n

          The Labor Department reported 196,000 Americans filed initial claims for unemployment benefits last week.\u00a0<\/span><\/p>\n

          That was a 13,000 person increase from the week before and higher than 190,000 expected.\u00a0<\/span><\/p>\n

          Continuing claims also rose by 38,000 to 1.69 million in the week ending January 28.<\/span><\/p>\n

          In Case You Missed It<\/span><\/h2>\n
            \n
          • Alphabet <\/b>(GOOGL) shares tumbled 7.7% on Wednesday after holding an event to showcase its new artificial intelligence chatbot called Bard. Google said it will begin rolling out the new technology in the coming weeks. The event also highlighted new AI improvements in other Google products like Maps and Lens. The reveal came one day after <\/span>Microsoft <\/b>(MSFT) hosted a similar AI event to unveil new updates to its Bing search engine. <\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"

            DJIA Futures: +214 (+0.6%) SPX Futures: +32 (+0.8%) NASDAQ Futures: +156 (+1.2%) Good morning friends! Futures are higher with Disney shares popping after strong earnings. Let\u2019s get right to it! Disney Beats Fiscal Q1 Expectations, Unveils Restructuring Walt Disney (DIS) shares are rallying 6.1% ahead of the open after beating fiscal Q1 expectations. Here\u2019s how the entertainment giant\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $0.99 vs $0.78 expected Revenue: $23.51 billion vs $23.37 billion expected Disney+ Subscriptions: 161.8 million vs 161.1 million expected This is the first earnings report released by Disney since CEO Bob Iger resumed his executive role.\u00a0 In a statement, Iger said, \u201cWe believe the work we are doing to reshape our company around creativity, while reducing expenses, will lead to sustained growth and profitability for our streaming business, better position us to weather future disruption and global economic challenges, and deliver value for our shareholders.\u201d Disney also announced plans to reorganize into three segments and cut thousands of jobs.\u00a0 Those divisions will be:\u00a0 Disney Entertainment ESPN\u00a0 Parks, Experiences, and Products Unit The company is also laying off 7,000 employees, representing about 3% of its workforce.\u00a0 Affirm Drops On Earnings Miss, Company Announces Layoffs Affirm (AFRM) shares are tumbling 15.4% in premarket trade after missing fiscal Q2 earnings on the top and bottom line. Here\u2019s how the buy now, pay later company\u2019s results compared to analysts\u2019 expectations:\u00a0 Loss per share: $1.10 vs $0.95 expected Revenue: $400 million vs $416 million expected The CEO said, \u201cA key operational misstep contributing to these results is that we began increasing prices for our merchants and consumers later in the year than we should have, and this process has taken us longer than we anticipated.\u201d Affirm also announced it is cutting 19% of its workforce, effective immediately. The company expects $360 million to $380 million in fiscal Q3 revenue vs $418 million expected.\u00a0 For the full year, Affirm forecast $1.475 billion to $1.550 billion in revenue, down from its previous outlook for $1.6 billion to $1.675 billion. Price Hikes Boost PepsiCo Earnings PepsiCo (PEP) shares are up 1.5% ahead of the open after beating Q4 expectations on the top and bottom line.\u00a0 Here\u2019s how the beverage maker\u2019s results compared to analysts\u2019 estimates:\u00a0 Adjusted EPS: $1.67 vs $1.65 expected Revenue: $28 billion vs $26.84 billion expected That beat came even as sales volume fell but consumers paid higher prices for PepsiCo snacks and drinks. Volume dropped 7% at Quaker Foods North America and fell 2% at its North American beverage division. PepsiCo expects 8% growth in earnings this year vs analysts\u2019 expectations for 7.3% growth.\u00a0 The company also announced a 10% increase to its annual dividend and plans to repurchase $1 billion worth of shares this year. Weekly Jobless Claims Rise More Than Expected Weekly jobless claims rose more than expected in early February.\u00a0 The Labor Department reported 196,000 Americans filed initial claims for unemployment benefits last week.\u00a0 That was a 13,000 person increase from the week before and higher than 190,000 expected.\u00a0 Continuing claims also rose by 38,000 to 1.69 million in the week ending January 28. In Case You Missed It Alphabet (GOOGL) shares tumbled 7.7% on Wednesday after holding an event to showcase its new artificial intelligence chatbot called Bard. Google said it will begin rolling out the new technology in the coming weeks. The event also highlighted new AI improvements in other Google products like Maps and Lens. The reveal came one day after Microsoft (MSFT) hosted a similar AI event to unveil new updates to its Bing search engine.<\/p>\n","protected":false},"author":41,"featured_media":66231,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-66213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=66213"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66213\/revisions"}],"predecessor-version":[{"id":66233,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66213\/revisions\/66233"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/66231"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}