Dow went up 216, advancers over decliners 4-1 & NAZ gained 45. The MLP index added 2+ to the 124s & the REIT index rose 5+ to 369. Junk bond funds fluctuated & Treasuries were slightly lower in price. Oil fell almost 1 to just above 40 & gold jumped 1893.
AMJ (Alerian MLP index tracking fund)
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Surging subscriber growth for Disney's (DIS), a Dow stock, flagship streaming service provided a bright spot for the entertainment
giant's Q4 earnings despite the ongoing impact of the coronavirus pandemic which will keep California's Disneyland closed thru the end of first Q1, at least. “Even with the disruption caused by COVID-19, we’ve been able to
effectively manage our businesses while also taking bold, deliberate
steps to position our company for greater long-term growth,” CEO
Bob Chapek said. “The real bright spot has been our
direct-to-consumer business, which is key to the future of our company,
and on this anniversary of the launch of Disney+ we’re pleased to report
that, as of the end of the fourth quarter, the service had more than 73
million paid subscribers – far surpassing our expectations in just its
first year.” Still, DIS is taking steps to protect its balance sheet amid the
pandemic by disclosing plans to not declare a semi-annual cash dividend
for H2 of fiscal 2020. This after the entertainment giant reported an adjusted loss of 20¢
per share for its Q4, much smaller than was
expected. The company generated $14.7B in quarterly revenue, surpassing a projected $14.2B. The company noted that its parks, experience & product segment had
experienced the “most significant impact” from the pandemic due to
lengthy closures & limited operations. DIS was also forced to make
significant adjustments to its slate of upcoming movie & television
releases. The stock went up 2.33..
If you would like to learn more about DIS, click on this link:
club.ino.com/trend/analysis/stock/DIS?a_aid=CD3289&a_bid=6ae5b6f7
Disney+ hits 73M subscribers as coronavirus pandemic hits profits
Dem leaders renewed their push for a multitrillion-$ coronavirus relief package, likely setting up a showdown with Reps as the 2 sides remain fundamentally divided over how much money to spend on stimulus measures. House Speaker Nancy Pelosi -- who will see
her party's majority shrink by at least 6 seats next year -- said she
still supports an aid bill worth at least $2.2T for American
workers & businesses still reeling from the virus. “We’re at the
same place, even more so with the pandemic,” she said, pointing to the
single-day record set for coronavirus cases on Wed. “Because look
at those numbers." At the same time, Senate Minority Leader Chuck
Schumer said the $3.4T HEROES Act that House Dems passed in
May should be the "starting point" for negotiations with the GOP &
the Trump administration. “The
HEROES Act should be the starting point, not an emaciated bill that
prioritizes protections for corporations and considers the needs of
American families as an afterthought,” Schumer added during the joint
press conference with Pelosi.
Pelosi, Schumer renew push for $3.4T coronavirus relief bill, teeing up battle with McConnell
Cisco Systems (CSCO) reported a smaller-than-expected drop in
its Q1 revenue as more people working from home during the
COVID-19 pandemic drove demand for its teleconferencing tools, networking equipment & cybersecurity products. Revenue fell 9% to $11.93B in the qtr. The fall was slowed by the strength in its services segment, helping
it beat the estimate for $11.85B. Excluding items, EPS was 76¢, above the 70¢ estimate. The stock rose 2.52.
If you would like to learn more about CSCO, click on this link:
club.ino.com/trend/analysis/stock/CSCO?a_aid=CD3289&a_bid=6ae5b6f7
Cisco posts smaller-than-expected drop in quarterly revenue, shares rise
Investors were bidding stocks higher today although tech stocks drifted lower after the pop at the opening. Because of the wild rally on Mon, stocks are on track for an up week. Meanwhile the virus is fighting back hard & the stimulus bill remains "just talk."
Dow Jones Industrials
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