Diamonds and Dogs
The force is with Disney (DIS). Disney is up a percent closing in on the 52 week high following better than expected earnings. Earnings came in at $1.55 per share, beating estimates by 6 cents. Revenue actually declined 3% to $14.78 billion. The Star Wars movie, Rogue One was first billion dollar release of the fiscal year. The next Star Wars movie comes out in December, The Last Jedi. Good news for shareholders, it looks like CEO Bob Iger doesn't look to be retiring anytime soon. RBC upgraded the stock with a $130 price target.
Good news, Gilead (GILD) is curing more people with Hepatitis C. Bad news, the earnings, sales and the stock price are declining. The stock is down 9% to a three year after lowering 2017 sales forecast for hepatitis C and other drug sales to $7.5 billion to $9 billion, much lower than the $12 billion Wall Street had expected. 2017 earnings estimates are also dramatically lower around $6.60-$9.00 per share, which is well below the average analyst estimate of $10.71 per share. Gilead needs to shake things up to get the stock price moving in the right direction again.