Walt Disney reported fiscal third-quarter adjusted earnings that topped analysts’ estimates.
Dreamstime
Stocks rose but pared gains Thursday after consumer prices rose at a 3.2% annual pace in July, higher than June’s 3% pace. The core inflation rate, however, slowed to 4.7% from 4.8%.
These stocks made moves on Thursday:
Walt Disney
(ticker: DIS) reported fiscal third-quarter adjusted earnings that topped Wall Street expectations while revenue missed slightly. The stock rose 4.9% and was the top gainer in the
S&P 500
after the entertainment giant said it would be raising prices for its streaming services and would be exploring ways to crack down on password sharing. Meanwhile,
Disney
+ subscribers ended the quarter at 105.7 million, up 1% from a year earlier, and modestly above the 104.9 million reported in the second quarter.
Capri Holdings
(CPRI) rose 56% to $53.90 as the company, which owns fashion brands Versace, Michael Kors, and Jimmy Choo, will be acquired for $57 a share in cash by
Tapestry
(TPR). The deal values Capri at $8.5 billion. Capri’s market capitalization at Wednesday’s close was $4.06 billion.
Tapestry
fell 16% and was the leading decliner in the
S&P 500.
Applovin
(APP) stock surged 26% as the software company swung to a profit in the second quarter and revenue beat forecasts. Applovin said it anticipates third-quarter revenue of $780 million to $800 million, compared with Wall Street consensus of $741 million.
Wolverine World Wide
(WWW) slid 26% after the apparel company issued full-year adjusted earnings guidance of 45 cents to 55 cents a share, far below analysts’ forecasts of $1.42.
Yeti
(YETI) gained 17% after the maker of high-end coolers posted better-than-expected second-quarter earnings and raised full-year guidance.
Plug Power
(PLUG) declined 16% after the hydrogen fuel-cell technology company’s second-quarter loss of 40 cents a share was wider than analysts’ expectations. Revenue in the period rose to $260.2 million from $151.3 million a year earlier and was higher than predictions of $237.7 million.
CyberArk Software
(CYBR) gained 13% after the security software company posted second-quarter adjusted earnings of 3 cents a share, while Wall Street had forecast a loss of 13 cents.
Oddity Tech
(ODD) rose 8.5% after the beauty products company showed solid growth in its first earnings report since going public in July.
American depositary receipts of
Alibaba
(BABA) jumped 4.6% after the Chinese e-commerce and cloud computing giant reported fiscal first-quarter earnings and sales that beat analysts’ estimates.
Roblox
(RBLX) rose 3.9% after dropping sharply Wednesday following a wider quarterly loss than was expected. Wedbush raised its rating on the stock to Outperform from Neutral.
Write to Joe Woelfel at joseph.woelfel@barrons.com
Read the full article here
