Stocks to Watch: Disney, Confluent, Blue Bird
By Ben Glickman
Disney's global Disney+ streaming subscriber base was stable in the fiscal first quarter and its operating loss in its direct-to-consumer business narrowed. The entertainment company also announced a $1.5 billion deal for an equity stake in "Fortnite" video-game maker Epic Games and plans to stream a cut of Taylor Swift's Eras Tour concert movie. Shares rise 6.2% to $105.26 after-hours.
Confluent issued 2024 revenue guidance ahead of Wall Street's expectations after the company's revenue rose sharply again in the fourth quarter. Finance chief Rohan Sivaram said the company is expecting its first breakeven year in terms of adjusted operating margin and free cash flow margin. Shares rise 19% to $28.95 after-hours.
Blue Bird's fiscal first-quarter sales increased about 35%, topping analysts estimates with the help of higher selling prices and more units. The electric school bus maker lifted its guidance for adjusted Ebitda, or earnings before interest, tax, depreciation and amortization and swung to a profit. Shares rise 12% to $34.90 after-hours.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
February 07, 2024 19:16 ET (00:16 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Markets Brief: Non-Farm Payrolls in the Spotlight Again
-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst