Stock Take 12/08/2021

Walt Disney posts more profit

Entertainment giant Walt Disney came up with its quarterly results after the close of US trading on Thursday. Disney posted revenue of US$17.022 billion in the third quarter of FY2021. This represents an increase in revenue compared to the same period last year when US$11.779 billion was on the books. Experts had expected revenues of 16.763 billion US dollars.

Disney exceeded analysts’ estimates for EPS (0.545 US dollars) and reported 0.80 US dollars. In the same quarter last year, earnings per share were even lower at 0.08 US dollars.

Disney shares, listed on the NYSE, climbed by 5.19 per cent to 188.39 US dollars in the after-hours trading.

Trade with the Top NFA Regulated Forex Brokers

Deutsche Telekom at high for the year

Among the individual stocks listed on the DAX, the Deutsche Telekom share was by far the day’s winner after positively received business figures for the second quarter. The share, otherwise not known as a price rocket, gained around 2.8 per cent to 18.40 euros. Intraday, the T-share reached a new twelve-month high of EUR 18.55. After its subsidiary T-Mobile US, the parent company also slightly raised its forecast for the current financial year. The board of directors now expects an operating profit of more than 37.2 billion euros, adjusted for leasing revenues for terminal equipment and special effects. This is a good 200 million euros more than previously forecast.

Airbnb share drops in after trading hours

Airbnb reported a smaller loss when it presented its second-quarter figures. After a loss of 2.18 US dollars per share in the previous year, the EPS now amounted to -0.11 US dollars. Analysts had forecast a loss per share of 0.357 US dollars.

In terms of revenue, Airbnb exceeded the expert forecast of 1.262 billion US dollars: the group turned over 1.335 billion US dollars after 335 million US dollars a year earlier.

Listed on the NASDAQ, Airbnb shares were down 2.98 per cent at 146.65 US dollars in after-hours trading.

READ ALSO
Markets Update Tuesday 26/01/2021 - Reporting Season: The Good and the Bad

Palantir can beat expectations

Palantir presented its figures for the past quarter on Thursday before the start of trading in the US. Palantir reported an adjusted EPS of US$0.04 for the second quarter of 2021. The group thus exceeded analysts’ expectations of 0.03 US dollars per share.

Sales increased by 49 per cent to 376 million US dollars compared to the same quarter last year; experts had expected sales of 353.23 million US dollars for the company.

An unexpectedly good business performance pushed Palantir’s shares up by more than 11 per cent on Thursday. The data analytics company had surprised positively with both its revenue figures and revenue forecast. At 24.90 dollars, they are now approaching their interim high of 27.50 dollars from the end of June again. In the evening, the final gain was 11.32 per cent to 24.88 dollars. However, they are still a long way from their record high of 45 dollars from the end of January.

Adidas sells Reebok to Authentic Brands

Adidas has sold its US fitness brand Reebok for up to €2.1 billion. The buyer is Authentic Brands Group LLC, a brand management company based in New York, whose owners include Blackrock.

The two companies have signed a definitive agreement on the sale. According to the announcement, the purchase price is to be paid mainly in cash at the transaction’s closing, with the remainder “comprised of deferred and contingent consideration”.

The transaction is expected to close in the first quarter of 2022 and is subject to customary closing conditions. Adidas intends to distribute the majority of the cash proceeds received upon completing the transaction to its shareholders.

The Herzogenaurach-based sporting goods company said the sale has no impact on Adidas financial outlook for the current year or its financial targets for 2025. Adidas had acquired Reebok in early 2006 for approximately €3.1 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *