Stock futures moved higher Thursday as investors again were focused on commentary about interest rates from global central bankers.
The
S&P 500
has closed higher for eight straight days while the
Nasdaq Composite
has extended its winning streak to nine sessions.
These stocks were poised to make moves Thursday:
Walt Disney
(DIS) reported fiscal fourth-quarter adjusted earnings of 82 cents a share, beating analysts’ estimates of 71 cents, as the entertainment giant’s streaming service,
Disney
+, added nearly 7 million “core” subscribers in the period. Disney also announced a more ambitious cost-cutting plan, raising its annualized cost efficiencies target to $7.5 billion, up from a prior target of $5.5 billion. The stock was rising 4%.
Shares of
Netflix
(NFLX),
Warner Bros. Discovery
(WBD), and
Paramount Global
(PARA) traded higher after striking Hollywood actors reached a tentative agreement with the major studios and streaming companies. Union members are expected to vote in the coming days to ratify the three-year deal. Warner Bros. was rising 2.9% following a tumble of 19% in the previous session after the company reported a wider-than-expected quarterly loss, largely because of the Hollywood strikes.
Chip designer
Arm Holdings
(ARM) reported fiscal second-quarter adjusted earnings and revenue better than analysts’ expectations but its forecasts for the third quarter and fiscal year were shy of estimates. U.S.-listed shares of Arm, which went public in September, were down 5%.
Applovin
‘s (APP) third-quarter earnings of 30 cents a share beat projections of 27 cents as revenue jumped to $864 million from $713 million a year earlier. Shares of
Applovin,
which makes software that helps its customers increase sales with artificial intelligence, were rising 16%.
Affirm Holdings
(AFRM) reported a fiscal first-quarter loss that was narrower than expected and shares of the buy-now-pay-later company rose 13%. Revenue in the period of $497 million beat estimates of $444 million. Total merchandise volume rose 28% year over year to $5.6 billion.
Lyft
(LYFT) reported third-quarter adjusted profit of 24 cents a share, beating Wall Street estimates of 15 cents, and the ride-hailing company said it expected fourth-quarter sales to grow “mid-single-digits quarter over quarter,” higher than Wall Street forecasts. The stock, however, fell 1.7%.
Topgolf Callaway Brands
(MODG), the maker of golf equipment and operator of the Topgolf recreational driving-range chain, reduced its outlook for full-year profit and sales following what it said was a “challenging” third quarter. Shares dropped 20%.
Twilio
(TWLO) was up 6.1% after the cloud-computing company beat Wall Street’s third-quarter earnings estimates and raised its outlook for adjusted income from operations to $475 million to $485 million, up from a previous forecast of between $350 million and $400 million.
U.S.-listed shares of
Li Auto
(LI) rose 3.5% after the Chinese electric-vehicle maker reported swung to a profit in the third quarter and its revenue outlook for the fourth quarter surpassed estimates.
Virgin Galactic
(SPCE) rallied 9.6% after the space-tourism company said it expects fourth-quarter revenue of around $3 million, higher than estimates of $1.5 million.
Earnings reports are expected Thursday
TransDigm
(TDG),
Li Auto
(LI),
Trade Desk
(TTD),
Illumina
(ILMN),
Wynn Resorts
(WYNN),
SharkNinja
(SN),
Tapestry
(TPR),
Plug Power
Plug Power
(PLUG), and
Yeti Holdings
(YETI).
Write to Joe Woelfel at joseph.woelfel@barrons.com
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