For Immediate Release
Chicago, IL—November 11, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
Here’s How Wall Street Reacted to Donald Trump’s Victory
When the United States—really, the entire world—came to the realization that Donald Trump would become the 45th president of the United States, investors hastily reacted, sending the Dow down 800 points at one point Tuesday evening. Investors were selling stocks, oil, and currencies like the peso and dollar.
But as the night wore on, the markets made their way back to more comfortable numbers. At about midday Wednesday, the S&P 500 was up 0.68%, the Dow up was up 0.75%, and the Nasdaq was up 0.70%. Gold and silver were in the green, increasing 0.98% and 2.05%, respectively, but crude oil fell about 0.4% to $45.42 a barrel.
Two Days After Trump’s Victory, Gun Stocks are Still Slumping
On Thursday, shares of gun makers were still slumping after Donald Trump’s stunning presidential victory earlier this week. While many sectors rallied in the wake of the Republican candidate’s win, others, like guns, saw investor hesitation take effect almost immediately.
Both Sturm Ruger & Co. and Smith & Wesson (SWHC - Free Report) took huge hits this week, down double digit percentage points. Analysts and investors think that with a Trump presidency, potential gun buyers are more confident in the protection of gun-carry laws, and the desire to rush out and buy a firearm has settled down, leading to a drop in stock price.
Nvidia Soars 13% on Record Q3 Earnings, Revenue, Margins
Nvidia Corp. (NVDA - Free Report) released its third quarter fiscal 2017 financial results on Thursday, posting GAAP earnings of 83 cents per share and revenues of $2.00 billion, both record numbers for the company. Nvidia also reported record GAAP gross margin at 59% and non-GAAP gross margin at 59.2%.
Looking ahead to Q4, revenue is expected to be $2.10 billion, plus or minus 2%. GAAP and non-GAAP gross margins are expected to be 59% and 59.2%, respectively, plus or minus 50 basis points.
Disney (DIS - Free Report) Misses Earnings and Revenue Estimates, ESPN Sheds Subscribers
Also on Thursday, media giant The Walt Disney Co. (DIS - Free Report) released its fourth quarter earnings results, posting earnings of $1.10 per share and revenue of $13.52 billion.Both its top and bottom line missed estimates.
Media Networks revenue fell 3% to $5.658 billion. This was pushed by a 7% drop in cable networks revenue, which fell to $3.9 billion. The company stayed silent on specific ESPN numbers, but it did mention that a “decline in subscribers” for the channel contributed to lower revenue. Studio Entertainment revenue grew 2% to $1.811 billion, while Parks and Resorts revenue grew 1% to $4.386 billion.
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