On today’s episode of Free Lunch, Associate Stock Strategist Ryan McQueeney recaps Snap’s latest earnings results, highlights Amazon’s new Whole Foods play, and attempts to summarize the wild day of Tesla and Elon Musk. Later, he takes a deep dive into Disney’s earnings report, exploring the media giant’s key business segments and outlook.
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Free Lunch is the newest show from Zacks Investment Research. It is streamed live, four times per week, and features breaking news and analysis from Zacks strategists. Free Lunch is available on YouTube, Facebook Live, Twitter, Ustream, and more.
Investors are still attempting to digest the insane ride that they were put on by Tesla (
TSLA - Free Report) and Elon Musk yesterday, which all started when Musk tweeted—out of nowhere—that his electric car company was considering going private.
That tweet was later followed by an official blog post and more details related to the proposed go-private deal, all of which stunned investors. Plus, we learned elsewhere that the Saudi sovereign wealth fund has recently built a 3% to 5% stake in the company.
Other major headlines today include Snap’s (
SNAP - Free Report) latest earnings report and Amazon’s ( AMZN - Free Report) new pick-up feature at Whole Foods. The Snapchat parent company was able to muster strong revenue growth and better-than-expected net losses, but the stock slumped on a sequential decline in active users. Meanwhile, Amazon unveiled a new program which will allow Prime customers to order from Whole Foods online and pick those items up in less than one hour.
Ryan recaps all of these stories, and provides his own perspective on the news, during the first half of today’s show.
Later, he takes a deep dive into Disney’s (
DIS - Free Report) earnings report. Disney actually missed estimates on the top and bottom line, but as Ryan explains, there were some positive takeaways from the report—including news on the Fox ( FOXA - Free Report) deal and remarkable numbers from the Studio Entertainment division.
However, the media behemoth saw a decline in operating income at its ever-important Cable Networks business, which was primarily caused by costly investments at BAMTech and ESPN+.
Make sure to check out the show as Ryan explores these results and explains where Disney might be headed next!
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