We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Markets Climbing Back; WEN, RBLX, WRBY Report, DIS After the Close
Read MoreHide Full Article
Market futures are in the green at this hour in today’s early trading period, looking to make back the small selloff yesterday which saw all four major indices make a run for breakeven late in the regular trading day. The Dow is currently +41 points, +0.12%, while both the S&P 500 and the Nasdaq are +0.18%. The small-cap Russell 2000 — underperforming for the past week, but in second-place month to date — is +0.14% at this hour.
We take a break from major economic prints this morning, as summer doldrums set in approaching mid-August: plenty of traders are currently on vacation; even the Fed doesn’t meet up again until the third week of next month. Anyway, we’ll likely haver our hands full with the Consumer Price Index (CPI) when it hits the tape tomorrow morning. Analysts currently expect year-over-year CPI coming in at +3.3%, with core year over year +4.7%. The core read is expected to tick down slightly, but headline looks to increase month over month.
Wendy’s (WEN - Free Report) is out with Q2 earnings this morning, just meeting earnings expectations at 28 cents per share (an improvement from 24 cents reported in the year-ago quarter), on revenues that missed the Zacks consensus by -1.33% to $561.57 million. Shares are down only slightly on the news in today’s pre-market, but still down -4% year to date. The company carried a Zacks Rank #4 (Sell) into the earnings release, though it does exist in an industry with a Zacks Rank in the Top 14%. For more on WEN’s earnings, click here.
Digital entertainment platform Roblox (RBLX - Free Report) shares are currently down more than -10% following its Q2 report ahead of today’s bell: negative earnings of -46 cents per share in the quarter matched the Zacks consensus (but down -53% year over year) on revenues that came in well below expectations: $680.8 million versus $785.1 million analysts were looking for. Further, bookings came in light of estimates for the Zacks Rank #4 company. The stock had been up +35% year to date.
Sunglasses maker and retailer Warby Parker (WRBY - Free Report) doubled expectations on its bottom line this morning, posting earnings of +$0.04 per share versus expectations of +$0.02, and easily ahead of the year-ago -$0.01 per share. Revenues for the quarter reached $166.1 million, beating the Zacks consensus by +2.76%. Shares are up +7.7% on the news in early trading today, adding to its relatively scant +6.7% gains year to date previously. The company also raised full-year revenue guidance. For more on WRBY’s earnings, click here.
The big quarterly report today comes after the closing bell, when The Walt Disney Company (DIS - Free Report) puts out fiscal Q3 numbers. Expectations here are for earnings per share to come down -9% on +4.3% in estimated revenue. Its ESPN segment this morning announced a sports betting deal with Penn Entertainment (PENN - Free Report) , whereby ESPN BET will come from a $1.5 cash payment to Disney and $500 million in warrants to buy PENN shares.
But ESPN is just one of several many big businesses, and it’s been a rather challenging time for Disney this year and, according to CEO Bob Iger, this quarter. We shall see if they will now outperform lowered expectations after the closing bell today. Disney currently rides a Zacks Rank of #3.
Image: Bigstock
Markets Climbing Back; WEN, RBLX, WRBY Report, DIS After the Close
Market futures are in the green at this hour in today’s early trading period, looking to make back the small selloff yesterday which saw all four major indices make a run for breakeven late in the regular trading day. The Dow is currently +41 points, +0.12%, while both the S&P 500 and the Nasdaq are +0.18%. The small-cap Russell 2000 — underperforming for the past week, but in second-place month to date — is +0.14% at this hour.
We take a break from major economic prints this morning, as summer doldrums set in approaching mid-August: plenty of traders are currently on vacation; even the Fed doesn’t meet up again until the third week of next month. Anyway, we’ll likely haver our hands full with the Consumer Price Index (CPI) when it hits the tape tomorrow morning. Analysts currently expect year-over-year CPI coming in at +3.3%, with core year over year +4.7%. The core read is expected to tick down slightly, but headline looks to increase month over month.
Wendy’s (WEN - Free Report) is out with Q2 earnings this morning, just meeting earnings expectations at 28 cents per share (an improvement from 24 cents reported in the year-ago quarter), on revenues that missed the Zacks consensus by -1.33% to $561.57 million. Shares are down only slightly on the news in today’s pre-market, but still down -4% year to date. The company carried a Zacks Rank #4 (Sell) into the earnings release, though it does exist in an industry with a Zacks Rank in the Top 14%. For more on WEN’s earnings, click here.
Digital entertainment platform Roblox (RBLX - Free Report) shares are currently down more than -10% following its Q2 report ahead of today’s bell: negative earnings of -46 cents per share in the quarter matched the Zacks consensus (but down -53% year over year) on revenues that came in well below expectations: $680.8 million versus $785.1 million analysts were looking for. Further, bookings came in light of estimates for the Zacks Rank #4 company. The stock had been up +35% year to date.
Sunglasses maker and retailer Warby Parker (WRBY - Free Report) doubled expectations on its bottom line this morning, posting earnings of +$0.04 per share versus expectations of +$0.02, and easily ahead of the year-ago -$0.01 per share. Revenues for the quarter reached $166.1 million, beating the Zacks consensus by +2.76%. Shares are up +7.7% on the news in early trading today, adding to its relatively scant +6.7% gains year to date previously. The company also raised full-year revenue guidance. For more on WRBY’s earnings, click here.
The big quarterly report today comes after the closing bell, when The Walt Disney Company (DIS - Free Report) puts out fiscal Q3 numbers. Expectations here are for earnings per share to come down -9% on +4.3% in estimated revenue. Its ESPN segment this morning announced a sports betting deal with Penn Entertainment (PENN - Free Report) , whereby ESPN BET will come from a $1.5 cash payment to Disney and $500 million in warrants to buy PENN shares.
But ESPN is just one of several many big businesses, and it’s been a rather challenging time for Disney this year and, according to CEO Bob Iger, this quarter. We shall see if they will now outperform lowered expectations after the closing bell today. Disney currently rides a Zacks Rank of #3.
Questions or comments about this article and/or author? Click here>>