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eastunder

08/28/23 9:51 AM

#14496 RE: eastunder #14495

DIS & NKE

On Slow build to 1 w/Sept-Dec expectation of continued pullback thru eoy?
DIS - JP
NKE- H
Pause on others. But Track 2 B&B
NKE G's: 93.90, 91.61
DIS 79.07 covid low



eastunder

11/05/23 1:53 PM

#14715 RE: eastunder #14495

DIS cpps 85.07

eastunder

11/07/23 10:49 AM

#14728 RE: eastunder #14495

Disney Stock: Dow Giant Looks To End 2023 On A High Note, Streaming Rival To Report Results

HARRISON MILLER09:41 AM ET 11/07/2023

https://www.investors.com/news/disney-stock-dow-giant-looks-to-end-2023-on-a-high-note-streaming-rival-to-report-results/?src=A00220

Wall Street expects Dow Jones entertainment powerhouse Disney (DIS) to end fiscal 2023 on a positive note with Q4 results late Wednesday. Streaming rival Warner Bros. Discovery (WBD) also reports its Q3 earnings Wednesday. Disney stock and WBD shares were little changed early Tuesday.

Disney Earnings

The Dow behemoth reported earnings declines the past four quarters along with an average 8.5% sales growth during the period.

FactSet analysts forecast a 136% increase in adjusted earnings to 71 cents per share on 6% revenue growth to $21.37 billion.

Targets call for a 9.8% rise in Disney parks and experiences revenue, to $8.15 billion. Wall Street sees Disney+ subscribership at 148.73 million for the quarter, improving from 146.1 million in Q3, but down 9.4% from last year.

Total Hulu subscribers are expected to climb to 49.43 million, up from 48.3 million last quarter and growing 4.7% from 2022 levels.

Analysts see ESPN+ subscribers ticking up 2.5% quarter-over-quarter to 25.84 million. Disney reported 24.3 million ESPN+ subscribers for Q4 2022.

Hulu Deal, ESPN BET Launch

Last Wednesday, Disney announced plans to purchase the remaining 33% stake in Hulu from Comcast (CMCSA)-owned NBC Universal. The House of Mouse expects to pay NBCU about $8.61 billion by Dec. 1, based on the terms of an options agreement from 2019. The exact timing is uncertain but the deal should close in the 2024 calendar year.

Disney announced plans early Thursday to launch its ESPN BET online sportsbook across 17 states in the U.S. on Nov. 14, subject to final approvals.

Additionally, ESPN is now using official odds provided by ESPN BET across its editorial and other content. And ESPN's Daily Wager program will rebrand to ESPN BET Live, starting Nov. 10.

ESPN partnered with Penn Entertainment on a gambling sportsbook in August. Under the deal, Penn Entertainment (PENN) rebranded its Barstool Sportsbook as ESPN BET. Meanwhile, ESPN will use ESPN BET exclusively. And Penn will pay ESPN $1.5 billion cash over 10 years, plus $500 million in warrants to buy PENN stock. In return, Penn will have exclusive rights to the ESPN BET trademark in the U.S. for the next decade.

Disney Stock

Disney stock was flat Tuesday and eased 1.2% Monday. Shares rallied 7.2% last week after climbing Thursday and Friday on the Hulu and ESPN BET news.

Disney stock has been in a steady downtrend this year as it contends with bulging content costs, while theme park traffic is bouncing back from pandemic shutdowns. The Dow Jones index company implemented a major restructuring plan to cut $5.5 billion in costs.

Disney stock has so far faded 3.3% in 2023.

Warner Bros. Earnings

Warner Bros., the parent company of Max, formerly known as HBO Max, announces Q3 results early Wednesday.

FactSet analysts expect Warner Bros. to report an adjusted loss of 3 cents per share, improving from a loss of 76 cents per share last year. Sales are predicted to rise 1.6% to $9.98 billion.

Shares spiked more than 23% last week after streaming platform Roku (ROKU) rocketed on its Q3 revenue beat and reported 2.3 million new accounts for the period. The move marked the biggest weekly gain for WBD stock since January 2022.

WBD stock reclaimed its 50-day moving average on last week's jump but is still trading well below its 200-day line.

WBD stock rose slightly early Tuesday and fell 2.7% Monday.

Shares rallied about 22% so far this year, having fallen from their 2023 high of 16.34 from late February.

eastunder

11/07/23 10:52 AM

#14729 RE: eastunder #14495

DIS cpps 84.31

Reports 11/8 A (Wednesday )

Open Gaps
Direction Date range
up Nov-03-2023 83.3 to 84.16
up Nov-02-2023 81.58 to 81.82



eastunder

11/08/23 4:19 PM

#14746 RE: eastunder #14495

The Walt Disney Company Reports Fourth Quarter and Full Year Earnings for Fiscal 2023
November 08, 2023 04:05 PM Eastern Standard Time

BURBANK, Calif.--(BUSINESS WIRE)--The Walt Disney Company (NYSE: DIS) today reported earnings for its fourth quarter and full year ended September 30, 2023.

“Management’s Discussion and Analysis of Financial Condition and Results of Operations”

Financial Results for the Quarter and Full Year:

Revenues for the quarter and year grew 5% and 7% compared to the prior-year quarter and prior year, respectively.
Diluted earnings per share (EPS) from continuing operations for the quarter increased to $0.14 from $0.09 in the prior-year quarter and for the year, decreased to $1.29 from $1.75 in the prior year.

Excluding certain items(1), diluted EPS for the quarter increased to $0.82 from $0.30 in the prior-year quarter and for the year, increased to $3.76 from $3.53 in the prior year.

Key Points:

Disney+ added nearly 7 million core subscribers in the fourth quarter. Key streaming content in the quarter included theatrical titles Elemental, Little Mermaid and Guardians of the Galaxy Vol. 3., original series Ahsoka and the Korean original series Moving.

We continue to expect that our combined streaming businesses will reach profitability in Q4 of FY24, although progress may not look linear from quarter to quarter.

Domestic ESPN revenue and operating income grew year over year in both fiscal year 2022 and fiscal year 2023, demonstrating the value of sports and the power of the ESPN brand.

Experiences operating income increased by over 30% versus the prior-year quarter, with year over year growth across all international sites, Disney Cruise Line, Disney Vacation Club and Disneyland Resort. At Walt Disney World, we continue to manage against wage inflation and challenging comparisons to the prior year from the 50th anniversary celebration.

We continue to aggressively manage our cost base, and have increased our annualized efficiency target to $7.5 billion, versus $5.5 billion previously.

We expect to grow free cash flow in fiscal 2024 significantly versus fiscal 2023, approaching levels last seen pre-pandemic. This continued robust free cash flow growth, alongside our strong balance sheet, will position us well to address our investment and shareholder goals for the year and going forward.

“Our results this quarter reflect the significant progress we’ve made over the past year,” said Robert A. Iger, Chief Executive Officer, The Walt Disney Company. “While we still have work to do, these efforts have allowed us to move beyond this period of fixing and begin building our businesses again. We have a solid foundation of creative excellence and innovation built over the past century, which has only been reinforced by the important restructuring and cost efficiency work we’ve done this year, and we’re on track to achieve roughly $7.5 billion in cost reductions. Combined with our portfolio of valuable businesses, brands and assets – and the way we manage them together – Disney has a strong hand that differentiates us from others in our industry.

“As we look forward, there are four key building opportunities that will be central to our success: achieving significant and sustained profitability in our streaming business, building ESPN into the preeminent digital sports platform, improving the output and economics of our film studios, and turbocharging growth in our parks and experiences business. We have already made considerable advancements in these four areas and will continue to move forward with a sense of purpose and urgency, and I’m bullish about the opportunities we have before us to create lasting growth and increase shareholder value.”

eastunder

02/08/24 1:39 PM

#15143 RE: eastunder #14495

DIS 96.94 Gap up on earnings