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DISNEY STRONGLY BULLISH AS RESULTS BEAT ESTIMATES - Capital Street FX

08-Nov
19:45 IST

In the Premarket trading session on Friday, Walt Disney’s stock was trading at 140.62- higher by 5.76% as compared to its previous close.

The company reported its fiscal fourth-quarter earnings after the market close on Thursday. Disney reported EPS of $1.07, 13 cents above the market estimates. Revenue of $19.10 billion was also above the market expectation of $19.04 billion.

The company is going to launch its long-awaited streaming service Disney+ on 12th November. The service will cost $6.99 per month or $69.99 per year and it will feature content from Disney, Pixar, Marvel, Star Wars and more.

Revenue from the Disney media network came in at $6.5B and revenue from Park and Resorts came in at $6.65B. Disney+ will be available on Amazon fire stick as well as Samsung Electronics and LG Electronics smart TVs.

Due to circumstances in Hong Kong that have led to a huge decrease in tourism and based on the Q4 trend the company expects a decline in profit at Hong Kong Disneyland by 80 million for the fiscal first-quarter.

On the technical front, the current price is above the MA5 and the MA20. The current price is above the upper band of the Bollinger Bands and is heading upwards. The stock is expected to trade higher today.

 

TRADE SUGGESTION- LIMIT BUY AT 140.55 TAKE PROFIT AT 141.55 STOP LOSS AT 140.05

 

 

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09-May
19:24 IST

Walt Disney’s stock is currently trading at 135.83-higher by 0.59% as compared to its previous close. In the Premarket trading session on Thursday, the stock was trading higher by 0.38%. The stock has continued gaining after the opening bell.

The company reported its second-quarter earnings after the market close on Wednesday. Disney generated an adjusted EPS of $1.61 for the second quarter. The EPS was above the market expectation of $1.58. The company brought in $14.92 billion in revenue for the second quarter. The revenue was above the consensus estimates of $14.36 billion.

Walt Disney posted better-than-expected earnings as more visitors flocked to its theme parks. The net income hit $1.5 billion in the theme park unit. The media company also closed its $71 billion acquisition of Fox’s entertainment assets during the second quarter.

Stocks of Disney rose more than 22% since the beginning of this year.

On the technical front, the RSI is currently at 66.04% and suggests that the market can move in the upward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands and is heading upwards.

 

TRADE SUGGESTION- LIMIT BUY AT 135.70 TAKE PROFIT AT 136.70 STOP LOSS AT 135.20

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