Covid surges to its highest level since 2018 disney jumping after hours julia . Better than expected top and bottom line results. Ending the quarter with 73 million subscribers. The company also announcing it will forego its next semiannual dividend and thats due to the cause of coronavirus. Disney shares giving up some of those gains, now about 3. 5 . The ceo saying in the call going on right now, the disney direct to consumer business is its bright spot. The growth of disney plus speaks volumes about the strength of our ip, our unparallel granting franchises and creators, all part of the disney difference that sets us apart from everyone else and when you look across our full suite of streaming services, we have exceeded 120 million paid subscriptions worldwide. Meanwhile, a smaller than expected loss. Losing 2. 4 billion due to covid, but down from the 3. 5 billion. The Company Also Reports that they are reassured by booking trends at Walt Disney World and urging california to allow
Find out soon. Good evening, everybody, all that and much more ahead we start with some breaking news on nikola. Shares are down in the after hours, following a big up day. Bloomberg reporting securities and Exchange Commission will exam over the stock selling fraud and allegations, stock down 7 . Youre response . Again, i cant speak, i said it last week, i cant speak to the voracek asity of the shore seller report, acquisition of fraud, i have no idea, but what i stand behind, despite how the gm is structured, whether their investing money, the fact that gm would link their wagon to nikola and if these acquisition prove to be correct, i think the real deleterious thing could happen with shares of gm, in my opinion, potential for exponential move and gm perhaps didnt do the homework others did. Thats my primary concern looking at this entire situation. Tim, to be clear on the story and were trying to get phil up here any moment, you know, Trevor Milton said the other day were going to
We get answers and love, exciting and new its in the air this valentines day. But wall street is sweet on a couple of stocks. Nice. Will they be lasting romances or are investors flirting with disaster we are doing a like or not, or hot or not like a would you rather. Swipe. Left or right, whatever it might be we dont care. All that ahead but we start with some big breaking news on the biggest name in investing. Who else but Warren Buffett. The latest filing from Berkshire Hathaway showing outsize moves from omaha her here is the rundown to berkshire started new positions. Kroger getting a pop 18 million new share stake over the quarter. Biogen over the new stake. And berk shir bought the spy and the voop ber berkshire remember it it could be warren, todd combs, doesnt mean warren himself. Berk shir raised stakes in general motors, occidental petroleum. Resortation hardware and sun core energy. By my math he sold a massive 60 some million share stake in wells fargo and trimming Goldman
Stuffers, four names you might want to put on your list but we begin with big news of the day, boeing shares getting a pop thanks to the company firing its ceo phil he wilebeau is in chicago the details. The board of directors met over the weekend Via Conference Call and sunday night the boeing board said weve had enough of dennis muilenberg. They reached the decision sunday night to for him effective immediately. Basic at this it comes down to this a couple of things happened in the last two months that the board said weve had enough. The broken faa relationship which weve talked about and halting 737 max production, thats a a mop umtal decision boeing reached last week, one they never had before. The new ceo is the former executive chairman dave calhoun takes over as ceo and president effective january 13th whats his game plan, rebuild the faa relationship and to that end he called the head of the faa this morning and said we welcome rigorous oversight also a reset for the 737 max, t
Ugly off 8 1 2 . Is the selling fully chinarelated here in the u. S. Or ocould there be something else, something bigger and deeper perhaps, guy . Lets start with you. Tim talking about china, i think it has a lot to do with china. When the markets down 8 on top of the moves weve seen over the last couple of months it has to have something to do with that but i also think its somewhat technical in nature. I think earnings have a lot to do with it. I think earnings have been okay but i think the chasm between eps and revenue continues to grow. I think technically the markets done everything right until last week when we traded back up, tested you willtime highs, seemingly failed, had an outside week in the s p without getting too wonky, now were going to test again those lows we saw last week or so, 2042. If it holds there, off to the races. If it fails we have to have another conversation quickly. The russell, the iwm, 121 has been the level, closed lower today for the first time in a