Disney stock has fallen more than 11% today on double its normal trading volume, as investors recalibrate their expectations in light of a shaky quarterly earnings report.
22.10.2022 - 01:37 / deadline.com
Snap Inc. investors registered a “no-confidence” vote today following the Snapchat parent’s earnings report, sending shares plummeting to nearly 4-year lows.
The stock fell 28% to close at $7.76 on trading volume that approached five times the normal level. The drop followed through on after-hours movement Thursday after the company warned investors it expects zero revenue growth in the fourth quarter. “Our revenue growth continued to decelerate in the third quarter,” the company said in a letter to shareholders, “and continues to be impacted by a number of factors we have noted throughout the past year, including platform policy changes, macroeconomic headwinds and increased competition.”
The last time Snap shares were in their current price range, the company was struggling to overcome a series of high-profile exec departures, a deeply unpopular redesign and glitches with Snapchat’s app for Android devices. That was during the early months of 2019. Since then, the company benefited from strong tailwinds as both users and advertisers grew more and more attached to the platform and spending on digital advertising surged.
In the most recent quarter, Snap reported $1.13 billion in revenue, which was up 6% over the prior-year period. That was the slowest rate of growth in any quarter since the company went public in 2017 and was below the 8% projection Snap offered last August. Further spooking investors, Snap forecast the flat fourth quarter despite saying it had seen a 9% uptick in revenue thus far in the quarter.
While some other social media stocks wound up collateral damage today, given the unsettling portrait of social and digital ad spending presented by Snap management, none got routed like Snap. Several analysts
Disney stock has fallen more than 11% today on double its normal trading volume, as investors recalibrate their expectations in light of a shaky quarterly earnings report.
Nick Carter is mourning the death of his little brother.
Open and shut. Gisele Bündchen and Tom Brady were declared legally single on Friday, October 28, hours after the duo announced their split.
A former bar manager who has worked in hospitality for "half his life" was given a warning for failing to disclose a drink driving conviction but allowed to keep his licence.
A new report has claimed that mothers of young children should be paid £8,000 to stay at home and look after their little ones.
Labour leader Keir Starmer has called on Liz Truss to reject a £115,000 a year allowance that she will be entitled to as a former prime minister.
Snaptchat parent Snap kicked off earnings season for social media and tech companies today on a sour note with solid user numbers but lower than expected revenue and a dime outlook for the fourth-quarter where sales are expected to be flat. That forecast spooked the Street with Snap down over 25% in late trading.
Lisa Rinna is apologizing for her «disastrous» behavior. In part two of season 12 reunion, Rinna was confronted with a look back at her journey over this past season, which included saying goodbye to her mother Lois, who died last November.The footage also included Rinna's outbursts at her fellow castmates, including Sutton Stracke.
Kelly Ripa isn’t going to let Kathie Lee Gifford just say whatever she wants!
Graham Norton’s comments about cancel culture got people talking on social media this week.
Terrific news for fans of Outlander: Several favorites from seasons past will rejoin the action in the seventh season of the Starz drama that’s now filming in Scotland. Graham McTavish — who’s on HBO’s House of the Dragon — will reprise his role as Jamie’s uncle Dougal MacKenzie. Also returning is Nell Hudson as Laoghaire Fraser; Steven Cree as Old Ian Murray; Andrew Whipp as Brian Fraser, Jamie’s father; Layla Burns as Joan MacKimmie, Marsali’s sister and Jamie’s stepdaughter; and Lotte Verbeek as Geillis Duncan, Claire’s former friend-turned-enemy and a fellow time traveler. Several new actors will be joining the cast too, including Gloria Obianyo (Dune) as Mercy Woodcock, a free Black woman navigating the hardships of life in Colonial America; Rod Hallett (The Last Kingdom) as Benedict Arnold, the notorious Revolutionary soldier turned traitor; Chris Fulton (Bridgerton) as Rob Cameron, a new acquaintance of Roger and Brianna; Diarmaid Murtagh (Vikings) as Buck MacKenzie, the illegitimate son of Dougal MacKenzie and Geillis Duncan, and Roger’s ancestor, a role previously played by Graham McTavish in season five, and Kristin Atherton (Shakespeare & Hathaway) as Jenny Murray, Jamie’s sister and Young Ian’s mother, a role originated by Laura Donnelly in seasons one through three. Previously announced additions include Charles Vandervaart as William Ransom; Izzy Meikle-Small as Rachel Hunter and Joey Phillips as Denzell Hunter.
Former NBA player Ben Gordon was arrested Monday at LaGuardia Airport in New York after he allegedly hit his 10-year-old son. Gordon was waiting for his flight to Chicago when Port Authority police prevented him from boarding the plane and arrested him. He was handcuffed at about 8:45 p.m., police said, according to the New York Post.
Florida police arrested six looters in Fort Meyers on Saturday for allegedly stealing high-end sneakers and other items from an outlet mall. According to Lee County's Sheriff's Office, Carlos Reyes Carmenates, 33, Mirna Abstengo Quesada, 33, Roberto Didier Enamorado Reyes, 30, Daymase Varona Reyes, 35, Alain Banzo Dieguez, 19, and a Hispanic teenager who is 14 years old traveled from Broadway Avenue to the outlets. Lee County Sheriff Carmine Marceno referenced the incident Saturday during a briefing on Hurricane Ian recovery efforts alongside Florida Governor Ron DeSantis.
Prince Harry and Meghan Markle are “secretly planning a year-long reconciliation with the royal family” - but not just yet. According to reports, the Duke and Duchess of Sussex will only get in contact with the royals after their Netflix show airs and Prince Harry’s memoir is released, says the Daily Mail.
Snoop Dogg and Master P have joined forces to help Malakai Roberts – a seven-year-old Kentucky boy who was permanently blinded as a result of gun violence – write and publish a children’s book about overcoming adversity.In December of 2020, Roberts’ family home in Lexington, Kentucky was targeted with aggressive gunfire. While sleeping near his mother and younger brother, five-year-old Malakai was shot in the head.
READ MORE - Homeless men sleeping rough in the shadow of Tottenham's luxury £750k flats say 'life is tough'On Friday morning WWE also issued a statement confirming the news. Taking to social media, World Wrestling Entertainment paid tribute and sent their 'heartfelt condolences' to star's family, friends and fans. On Twitter the page wrote: "WWE is saddened to learn of the passing of Sara Lee.
Chris Willman Senior Music Writer and Chief Music Critic Although a news report went out Friday morning — and then was pulled — that Joni Mitchell had died, the story was published in error, and the singer-songwriter remains alive and well. “I can confirm all is well so this was done in error,” says a representative for Rhino, which is involved with Mitchell in an ongoing reissue series of her catalog material. The faux report went out from People magazine, with tell-tale signs of a “pre-write” obituary that was published accidentally — every major news organization’s worst nightmare. “Joni Mitchell Dies at TK AGE,” read the headline that was seen on the magazine’s website as well as in a tweet, the “TK” meaning “to come” in journalistic parlance. The story itself also included editorial notes indicating details that needed to be filled in.