Diamonds and Dogs
DoorDash (DASH) is dashing higher. A logistics platform that connects merchants and consumers is up 19% following earnings. DoorDash lost money, but sales rose 197% to $1.08 billion. Wells Fargo upgraded the stock to $170 from $165 based on the strong results.
Disney (DIS) has a streaming problem. The entertainment giant is down 3% following earnings. Disney easily beat expectations as revenues fell 13.4% to $15.61 billion. Investors were focused on attracted fewer streaming customers than expected last quarter, stoking fears that a key engine of the century-old company's transformation may be losing some momentum. Disney does expect as many as 260 million subscribers globally by the end of 2024.
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