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Disney (DIS) shares are making headlines today as they surge 9% in premarket trading following the company’s strong financial results. Revenue and adjusted profit came in above estimates, with the media giant reporting $22.57 billion in revenue and adjusted earnings per share of $1.14. Disney’s streaming business also recorded an operating profit of $253 million, showing promising growth in this segment.
Investors are also keeping an eye on the 8:30 a.m. ET release of the Producer Price Index (PPI) after yesterday’s Consumer Price Index (CPI) data. Economists are projecting a 0.2% increase in wholesale prices for October, reflecting the trend of rising inflation. With the Federal Reserve cutting interest rates last week and expectations of more cuts to come, it’s important to monitor these economic indicators closely.
On the flip side, Super Micro Computer (SMCI) shares are dropping 11% in premarket trading after the server maker announced a delay in filing its financial reports. This delay comes after issues with its auditor and could impact the company’s compliance with Nasdaq listing rules.
Cisco Systems (CSCO) shares are also down 3% as the networking giant reported declining first-quarter profit and revenue. With a shift towards higher-growth areas like cybersecurity and artificial intelligence (AI), investors are keen to see how Cisco adapts to these changing market dynamics.
Lastly, the International Energy Agency (IEA) has revised its oil demand growth projections for 2024 and 2025, citing China’s slowing economy as a factor. With WTI and Brent crude oil prices on the rise, it’s essential to keep an eye on how these changes in demand could impact the energy sector.
Stay tuned for more updates and analysis on the latest financial news here at Extreme Investor Network. Our expert insights will help you make informed investment decisions and navigate the ever-changing market landscape.