Daily Market Movers for November 8th, 2019
The Walt Disney Company (NYSE: DIS) reported its fourth quarter financial results after the closing bell on Thursday. The Company topped analysts’ earnings and revenue estimates, which sent shares higher by 5% on Friday morning. For the quarter, Disney reported earnings of USD 1.07 per share on revenue of USD 19.1 Billion. Refinitiv analysts expected earnings of USD 0.95 per share on revenue of USD 19.04 Billion. Disney’s quarterly financial results come just days before the launch of its streaming service, Disney+. The service is expected to launch on November 12 and will cost USD 6.99 per month or USD 69.99 per year. The platform will include content from various media networks such as Disney, Pixar, Marvel, Star Wars, and the National Geographic.
Stamps.com Inc. (NASDAQ: STMP) shares soared as much as 17% on Friday after the Company topped earnings estimates and increased its guidance. For the quarter, Stamps reported earnings of USD 1.12 per share on sales of USD 136.2 Million. FactSet analysts estimated earnings of USD 0.70 per share on revenue of USD 123.2 Million. Additionally, Stamps.com raised its revenue guidance to USD 535 Million to USD 565 Million compared to its previous guidance of USD 520 Million to USD 560 Million.
Zillow Group, Inc. (NASDAQ: Z) shares popped by 12% on Friday after reporting its third quarter financial results on Thursday. The Company edged out analysts’ expectations for both earnings and revenue. For the quarter, Zillow reported a net loss of USD 64.6 Million or USD 0.31 per share on revenue of USD 745.2 Million. FactSet analysts expected earnings loss of USD 0.43 per share on revenue of USD 718 Million.
The Trade Desk, Inc. (NASDAQ: TTD) shares edged higher by 4% on Friday after surpassing analysts’ earnings estimates for the quarter. The Trade Desk reported earnings of USD 0.75 per share on revenue of USD 164.2 Million. Zacks Consensus Estimate expected earnings of USD 0.67 per share. However, Trade Desk missed Zacks Consensus’ revenue estimates narrowly by 0.04%.
AbbVie Inc. (NYSE: ABBV) shares rose by 3.4% on Friday after the Company announced it has submitted a supplemental New Drug Application (sNDA) to the U.S. Food and Drug Administration for IMBRUVICA. The submission is based on results from its Phase 3 E1912 study.
Dropbox, Inc. (NASDAQ: DBX) shares cratered by 7.3% on Friday despite beating analysts’ expectations for the quarter. Dropbox reported earnings of USD 0.13 per share on revenue of USD 428.2 Million. Refinitiv analysts expected earnings of USD 0.11 per share on revenue of Usd 423.5 Million. Dropbox also beat analysts paying users estimates as well as average revenue per user. The Company reported 14 million paying users at the end of the quarter and an average revenue per user of USD 123.15. FactSet analysts projected total paying users of 13.89 million and average revenue per user of USD 122.30.
Revolve Group, Inc. (NYSE: RVLV) shares sank by 10% on Friday after the Company financials raised doubt about its growth in its owned brands. Revolve Chief Executive Officer said on an earnings call that its segment net sales have slowed in the past quarters compared to a very fast expansion through the first quarter of 2019.
AnaptysBio, Inc. (NASDAQ: ANAB) crashed by as much as 70% on Friday after the Company announced its experimental eczema treatment failed to meet primary end results in its Phase 2 study. As a result, the Company decided to postpone the initiation of its Phase 2b etokimab clinical trial.