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Walt Disney (NYSE:DIS) shares fell about 5% on Thursday after the entertainment behemoth reported below-par earnings of $0.93 per share and 157.8 million Disney+ subscribers, fewer than the 163.1M that Wall Street had expected.
Still, Citi highlighted that losses continue to narrow:
Goldman Sachs cut the price target to $130 per share, from the prior $136, but remains Buy-rated on DIS stock:
Airbnb (NASDAQ:ABNB) said it made $0.18 a share – a swing from last year’s loss but also $0.02 shy of Street expectations – on in-line revenue of $1.8 billion. The company also announced a new share buyback program of up to $2.5B.
Looking ahead to Q2, the company guided revenue in a range of $2.35B to $2.45B, in line with Wall Street estimates, but also said Night and Experiences Booked “will have unfavorable year-over-year comparisons in Q2 2023 as we overlap pent-up 2022 demand following the COVID Omicron variant.”
After that, the shares took a quick fall. Morgan Stanley cut the price target to $95 per share and reiterated an Underweight rating on ABNB stock, as InvestingPro reported in real time:
Oppenheimer believes that the velocity of 2Q23 nights deceleration will heighten concerns about slowing growth:
Shares were recently off more than 7% for the week.
PayPal (NASDAQ:PYPL) raised its full-year profit guidance, and first-quarter results topped expectations, but shares slumped on a lowered operating-margin outlook – from +125bps to +100bps – for the full year.
Q1 earnings were $1.17 per share, better than the $1.10 average expectation, driven by cost cuts and an increase in new accounts. And sales of $7.04 billion edged past the consensus.
Looking ahead, the company now expects to grow adjusted EPS by about 20% to $4.95; up from prior guidance of 18% growth to $4.87.
But Oppenheimer believes PayPal stock “may be stuck” in the near term:
Deutsche Bank said the move lower in PYPL shares is a result of the investor focus on transaction margin pressures:
Shares were recently down some 12% for the week.
Yasin Ebrahim, Davit Kirakosyan, and Senad Karaahmetovic contributed to this report.
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