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☆ Disney reports earnings before the bell Tuesday. Here's what Wall Street is watching
▼ + stars: | 2024-05-06 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

Walt Disney puts its top-tier media dominance to the test when it reports results before the bell Tuesday. Wells Fargo's Steven Cahall upped his price target to $141 a share, suggesting upside of 24%. StreetAccount estimates call for 229.35 million subscribers across the business unit and nearly 155 million Disney+ subscribers. At its last earnings call in February, Disney said it expects between 5.5 million to 6 million added subscribers in the second quarter. He forecasts an additional 4 million subscribers each year.

Persons: Walt Disney, Nelson Peltz, Jessica Reif Ehrlich, David Karnovsky, Wells Fargo's Steven Cahall, Deutsche Bank's Bryan Kraft, Disney, Vijay Jayant, America's Ehrlich Organizations: Trian Partners, LSEG, Walt Disney, Bank of America, JPMorgan, Disney, Deutsche, DTC, Netflix, Bank Locations: F1Q

Morgan Stanley raised its price target on Ford after the company reassessed its electric vehicle strategy. That "paints path to ~$230-$290 stock price as we argue AMZN could warrant an even higher multiple in this scenario," he added. — Michelle Fox 7:38 a.m.: Evercore hikes Disney price target, points out near-term catalysts Walt Disney has a bright near-term outlook, according to Evercore ISI. In addition to cutting his price target, Harned also pulled down his outlook for free cash flow and deliveries. — Alex Harring 5:48 a.m.: KeyBanc raises Nvidia price target There's no slowing down Nvidia , according to KeyBanc.

Persons: Morgan Stanley, KeyBanc, Brian Nowak, Jon Tower, — Michelle Fox, Walt Disney, Vijay Jayant's, Jayant, Bob Iger, — Lisa Kailai Han, David Palmer, Palmer, Uber, — Alex Harring, Bernstein, Douglas Harned, Harned, Dave Calhoun, Alex Harring, Anthony Chukumba, Chukumba, selloff, Ross Seymore, Seymore, TD Cowen, Doug Anmuth, Anmuth, there's, John Blackledge, Blackledge, Jason Bazinet, Bazinet, There's, Goldman, Goldman Sachs, Kate McShane, McShane, BJ, Mark Strouse, Strouse, Adam Jonas, Jonas, Ford, John Vinh, Vinh, Fred Imbert Organizations: CNBC, Monday's, Ford, Nvidia, Amazon, Citi Citi, Grill, ISI, Disney, India's Reliance Industries, Reliance Industries, Netflix, Hulu, Boeing, Dow Jones, Capital, Loop Capital, Deutsche Bank, Broadcom, VMWare, JPMorgan, Citi, BJ's Wholesale, GE, GE Vernova Locations: Michigan, Alaska, F1Q, California, The Massachusetts, Friday's, China

☆ JSW Steel's CEO explains why he is positive on the growth momentum in steel demand
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJSW Steel's CEO explains why he is positive on the growth momentum in steel demandJayant Acharya of JSW Steel discusses the company's Q3 earnings, business outlook and increased competition due to the surge in China steel imports.

Persons: JSW Steel Organizations: JSW Locations: China

☆ Disney is in trouble. Bob Iger has 5 big problems to solve
▼ + stars: | 2023-11-08 | by ( Samantha Delouya | ) edition.cnn.com time to read: +8 min

Last quarter, Disney’s linear television revenue continued to slip, declining 7% compared to the same quarter last year. Disney World angstIt may not be all bad news for Disney, though. However, Disney World Resort in Florida has struggled with declining attendance in recent months. Over the summer, Disney World parkgoers experienced shorter-than-expected ride wait times and fewer crowds. Nearly one year ago, Iger unexpectedly came out of retirement to take over the role of Disney CEO once again after the board unexpectedly fired his successor, Bob Chapek.

Persons: Ron DeSantis, Bob Iger, Hugh Johnston, Christine McCarthy, Iger, ” Iger, I’ve, expansively, Indiana Jones, Reynaud Julien, Bank of America’s Jessica Reif Ehrlich, Ehrlich, Jason Bazinet, Disney, Disney isn’t, ”, Vijay Jayant, underperformance, Bob Chapek, Johnston Organizations: Los Angeles CNN, Disney, Republican, Gov, Warner Bros, CNN, Media, YouTube, ESPN, Wall Street, PepsiCo, ABC, Disney Channel, Geographic, “, Destiny, Cannes Film, APS, Bank of America’s, Citigroup, Shanghai Disney Resort, Hong Kong Disneyland Locations: Florida, Refinitiv, Cannes, France, Canada, Hulu, Shanghai, Hong, Central Florida

☆ Here's how analysts say to trade Disney ahead of its earnings announcement
▼ + stars: | 2023-08-09 | by ( Hakyung Kim | ) www.cnbc.com time to read: +4 min

DIS YTD mountain Disney shares' YTD performance Ahead of the company's quarterly release, several Wall Street analysts have lowered their performance forecasts. The new price target suggests shares could rally 45% from Tuesday's close. He cut his price target to $105 from $110. Finally, Deutsche Bank analyst Bryan Kraft lowered his price target, citing lower advertising revenue and underperformance at the box office. His new price target is $120, down from $131.

Persons: Wednesday's, Goldman Sachs, Goldman, Brett Feldman, John Hodulik, Vijay Jayant, Morgan Stanley, Benjamin Swinburne, Bryan Kraft, Kraft, — CNBC's Michael Bloom Organizations: Disney, Investors, Penn Entertainment, ESPN, ESPN Bet, Disney World's, UBS, Hollywood, Deutsche Bank, Kraft Locations: Tuesday's

☆ Sirius XM shares pull back after 'wild' gains with short squeeze in focus
▼ + stars: | 2023-07-21 | by ( Sinéad Carew | ) www.reuters.com time to read: +3 min

July 21 (Reuters) - Shares in Sirius XM Holdings (SIRI.O) were down 10.5% on Friday, erasing some of their dramatic gains in the previous day's session with analysts attributing the volatility to a short squeeze, as well as a rebalance of the Nasdaq 100 (.NDX). U.S. satellite and online radio company, Sirius XM, which is majority owned by Liberty Media (FWONA.O), last traded at $6.99 after closing up 42% at $7.81 on Thursday for its biggest one-day percentage gain since March 2009. A short squeeze is when these investors are forced to quickly cover their bets to limit losses if a stock gains ground instead of falling. "However, the large number of shares held short along with a relatively small float provided fertile ground for a short squeeze as seen on July 20," wrote Macker who estimates a $7.50 fair value for the stock. Evercore analyst Vijay Jayant said the upcoming rebalance of the Nasdaq 100, of which Sirius is a member, was also a factor for the short squeeze as well as related options trading.

Persons: Neil Macker, Macker, Vijay Jayant, Jayant, David Joyce, Joyce, Sinéad Carew, Medha Singh, Lance Tupper, Sharon Singleton Organizations: Sirius XM Holdings, Nasdaq, Sirius XM, Liberty Media, Atlanta Braves, Sirius, Liberty's, Research Partners, Thomson

The surge in deaths this months follows a warning from the country’s meteorological department about potential heat-related casualties. Temperatures in northern and eastern India have reached 46 degrees Celsius (114.8 degrees Fahrenheit) this week, AFP reported. A local health official acknowledged heat may have been a factor in the deaths of 25 people on June 16. Later, the Chief Medical Officer of Ballia, Dr. Jayant Kumar, said the spike in deaths was due to “various other ailments,” including old age. Not a single district hospital has been built in the last six years.

Persons: Diwakar Singh, Singh, Ballia, Jayant Kumar, ” Kumar, N Tiwari, “, ” Akhilesh Yadav, ”, Mansukh Mandaviya Organizations: CNN, AFP, BBC, heatwave, Express, India’s Locations: Uttar Pradesh, Ballia, India

☆ Northern India Endures a Heat Wave, and a Wave of Deaths
▼ + stars: | 2023-06-18 | by ( Alex Travelli | Hari Kumar | ) www.nytimes.com time to read: +1 min

An unusually intense heat wave has swept across northern India in the last four days, with some hospitals in the state of Uttar Pradesh recording a higher-than-usual number of deaths. Dozens of deaths were recorded at hospitals there on June 15, 16 and 17. “The number of deaths has been more than normal,” Dr. Kumar said. He told the Press Trust of India, a news agency, that on average, eight people usually die per day. “Most of these are natural deaths,” he told The Times in a phone interview, “most of the dead being elderly people suffering from different ailments like diabetes.”

Persons: there’s, Jayant Kumar, Dr, Kumar, ”, “ Organizations: Press Trust of, Times Locations: India, Uttar Pradesh, Ballia District, Bihar, Press Trust of India

☆ Dow Industrials are now in the red for 2023, but these stocks may lead it back into the black, analysts say
▼ + stars: | 2023-05-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Among the index's biggest losers were Disney , American Express , Goldman Sachs and Boeing . Here are the top 10 names with the largest upside to the average price target, according to data pulled from FactSet. American Express can rally 23.5%, while Goldman Sachs has 21% upside, according to analysts' average price targets. AXP YTD mountain American Express year to date Last month, American Express reported an earnings miss for the first quarter, but its revenue beat expectations, per Refinitiv. Goldman Sachs, however, missed on revenue thanks to a $470 million loss on the partial sale of its Marcus loans portfolio.

☆ India monetary tightening cycle not over, inflation remains a concern -MPC minutes
▼ + stars: | 2023-04-20 | by ( Swati Bhat | ) www.reuters.com time to read: +2 min

MUMBAI, April 20 (Reuters) - India's current rate tightening cycle may not be over as more hikes could be warranted to align inflation towards the central bank's medium term target of 4%, minutes of this month's Monetary Policy Committee (MPC) meeting showed on Thursday. "It is clear that the war against inflation has not yet been won, and it would be premature to declare an end to this tightening cycle," MPC member Jayant Varma wrote. Most members appeared more concerned about inflation than in their commentary after the previous policy meeting in February when the bank raised rates by 25 bps. The decision by OPEC+ to cut crude output and the possibility of weak monsoon rains could both push up inflation in India and necessitate a monetary policy response, Varma said. In the current situation of high inflation, monetary policy does not have the luxury of responding to these growth headwinds."

☆ Analysts praise Disney's cost-cutting plan, say focus on profitability is 'restoring the magic'
▼ + stars: | 2023-02-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

The cost-saving initiatives unveiled by Disney on Wednesday give analysts another reason to remain bullish on the media giant. The commentary from analysts comes after the company on Wednesday revealed plans to cut 7,000 jobs and slash $5.5 billion in costs . "Bob Iger laid out a plan for cost cuts, content and streaming rationalization and ultimately improved profitability," said Wells Fargo's Steven Cahall in a Wednesday note to clients. "An execution story is a cleaner catalyst path, and the shares should track higher on confidence + estimates." "Bob Iger has a long, strong track record which provides confidence he will manage this transition for DIS," she said.

☆ Inside Disney, 'nervous and anxious' execs brace for news of cost cuts and layoffs that could number in the thousands
▼ + stars: | 2023-02-07 | by ( Claire Atkinson | Lucia Moses | ) www.businessinsider.com time to read: +3 min

Cost cutting reductions, including layoffs, are expected to hit Disney in the coming weeks and months. CEO Bob Iger has asked top execs to reorganize the former Disney Media Entertainment Distribution division. Disney employees are expecting wide layoffs as returning CEO Bob Iger moves to get costs in line. Internally, there's speculation that Disney will target people who work on nonpremium digital products for layoffs, one company insider said. Iger is expected to dismantle the division formerly known as DMED (Disney Media Entertainment Distribution) and shift P&L controls back to creative leaders and others.

☆ Disney CEO Bob Iger has 'very little room for maneuver' as he tackles layoffs, budget cuts, a company reorg, and questions over the future of Hulu and ESPN
▼ + stars: | 2023-02-07 | by ( Claire Atkinson | ) www.businessinsider.com time to read: +11 min

Disney chief Bob Iger will speak Wednesday on his first quarterly earnings call since returning as CEO. Wall Street wants to see how Disney plans to boost profitability this year and whether it will trade ESPN or Hulu. Aside from a quick visit to Disney World in January, Bob Iger has been lying very low. Media investor Ross Gerber told Insider that Iger would get back to focusing on content rather than on the distribution mechanism. Iger tweeted a photo of himself at Disney World, dressed in a relaxed green cardigan and gray slacks as he posed with cast members on January 19.

☆ Evercore ISI's top picks for 2023 include a tech comeback story and a car racing play
▼ + stars: | 2023-01-12 | by ( Michelle Fox | ) www.cnbc.com time to read: +4 min

Finding opportunities amid the market volatility is "mission critical," and there are several to be had this year, according to Evercore ISI. The Wall Street firm is predicting an economic and earnings recession, catalyzing a "cathartic" volatility spike in 2023. "Alpha opportunities are surfacing in 2022's wreckage from inflation's breakout resulting in record tightening, catalyzing a stock/bond correlated decline. With that in mind, Evercore came up with its top stock picks for 2023. The streaming company should enjoy a comeback this year, after losing 51% in 2022, according to analyst Mark Mahaney.

Comcast Corp. named a company insider as its next finance chief as the cable and media sector grapples with cord-cutting customers and deterioration in the ad market. Jason Armstrong was appointed chief financial officer, Philadelphia-based Comcast said Friday, after serving for the past nine years in various financial leadership positions. Mr. Armstrong most recently served as deputy CFO and treasurer, responsible for capital formation, capital allocation, credit-related matters and investment management activities. Jason Armstrong, chief financial officer of Comcast. Photo: Comcast CorpSince joining Comcast in 2014, Mr. Armstrong has also had the roles of CFO of Sky, Comcast’s pay-TV giant, and head of investor relations and finance.

☆ INDIA RUPEE Rupee hits record low on worries of aggressive U.S. rate hikes
▼ + stars: | 2022-10-20 | by ( Anushka Trivedi | ) www.reuters.com time to read: +3 min

read moreThe partially convertible rupee was trading at 83.16/17 per dollar by 0436 GMT, compared to its close of 83.02 on Wednesday. Register now for FREE unlimited access to Reuters.com Register"We can expect the dollar to continue strengthening as long as the Fed maintains its super hawkish stance. read moreTraders said the falling interest rate differential between India and the U.S. could continue to pressure the rupee. Shilan Shah, India economist at Capital Economics, said in a recent note that 50 bps rate hikes may be off-the-table at the RBI's meeting in early December. "We think other MPC members will have seen enough evidence of growth coming off the boil and price pressures peaking.

☆ INDIA STOCKS Indian shares rise 1% as cenbank eases inflation fears
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Oct 18 (Reuters) - Indian shares jumped to three-week highs in early trade on Tuesday, as rate hikes fears were soothed after the country's central bank said inflation looked set to ease and as risk sentiment improved globally on Britain's fiscal policy U-turn. In domestic trading, Nifty's automobile (.NIFTYAUTO), IT (.NIFTYIT), energy (.NIFTYENR) and public sector bank (.NIFTYPSU) indexes climbed more than 1% each. Inflow of funds from domestic investors in equities were strong even as foreign institutional investors sold shares. Foreign investors sold a net of 3.72 billion Indian rupees ($45.3 million) worth of equities on Monday, while domestic investors bought 15.82 billion rupees worth of shares, the National Stock Exchange's provisional data showed. ($1 = 82.1780 Indian rupees)Register now for FREE unlimited access to Reuters.com RegisterReporting by Rama Venkat in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ INDIA RUPEE Rupee jumps as UK fiscal budget turnaround brings cheer
▼ + stars: | 2022-10-18 | by ( Anushka Trivedi | ) www.reuters.com time to read: +2 min

MUMBAI, Oct 18 (Reuters) - The Indian rupee strengthened on Tuesday to hover close to the 82 per dollar mark, as risk sentiment improved after reversal of Britain's controversial fiscal plans pressured the greenback. The rupee jumped 0.35% to 82.05 by 0442 GMT, after having traded in a narrow band near the 82.40 level for the past five sessions. The currency has not traded under 82 per dollar in nearly two-weeks and traders see low chances of it breaching that in this session. Any level below 82 per dollar was good for importers with near-term exposures to buy as USD/INR premiums are currently lower too, he added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Anushka Trivedi in Mumbai; Editing by Neha AroraOur Standards: The Thomson Reuters Trust Principles.

☆ India should pause rate hikes as growth fears loom - MPC's Varma
▼ + stars: | 2022-10-17 | by ( Swati Bhat | ) www.reuters.com time to read: +4 min

MUMBAI, Oct 17 (Reuters) - India's central bank should pause interest rate hikes, despite unacceptably high inflation, to avoid stalling a recovery in economic growth, monetary policy committee member Jayant Varma told Reuters on Monday. Varma, in his written MPC minutes, had said the country's economic growth outlook is "very fragile" and warned it could be "dangerous" to push the policy rate much higher. Varma said he would prefer the repo rate being held close to 6% for several quarters until inflation is stamped out. In his minutes, Varma had warned against using monetary policy to manage the fall in the currency, saying the external sector should be managed by other instruments. Further, raising the repo rate to ensure the interest rate differentials remain favourable for India was not a part of the MPC's mandate, particularly when there was lower risk of it causing imported inflation, he suggested.

☆ Why major analysts say Disney's subscriber guidance needs to come down
▼ + stars: | 2022-08-10 | by ( Samantha Subin | ) www.cnbc.com time to read: +3 min

As Disney prepares to report earnings Wednesday, major analysts fear further disappointment is in store for investors as streaming subscriber estimates remain too high and need to come down. The entertainment giant has said it plans for its Disney+ streaming service to have between 230 million and 260 million subscribers by the end of 2024. Wells Fargo's Steven Cahall agrees that Disney needs to trim back its streaming goals. Although the bank remains bullish on the company and the continued progression of its Disney+ business, it cut 2024 streaming estimates to 213 million from 240 million. To be sure, there are some potential bright spots that could keep Disney on track to reach its target.

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