On Tuesday, shares of Walt Disney Co. (DIS) faced a challenging trading session, marking the fourth consecutive day of losses. The stock dipped by 0.55% to $81.19, reflecting a broader downtrend in the market. The S&P 500 Index (SPX) fell by 0.42% to 4,496.83, and the Dow Jones Industrial Average (DJIA) experienced a decline of 0.56% to 34,641.97.
Disney’s Recent Performance
Walt Disney Co. is currently trading $36.99 below its 52-week high of $118.18, which it reached on February 9th. This decline in value has raised concerns among investors.
A Mixed Day for Competitors
In comparison to some of its competitors, Disney’s performance on Tuesday was mixed. Apple Inc. (AAPL) saw a slight increase of 0.13% to $189.70, while Netflix Inc. (NFLX) exhibited a more significant rise of 2.00% to $448.68. Comcast Corp. Cl A (CMCSA), on the other hand, faced a decline of 2.56% to $44.56.
After-Hours Highlights
Several companies made headlines in after-hours trading, including:
1. Zscaler – A Strong Quarter
Zscaler, a cloud security stock, reported better-than-expected results for its fiscal fourth quarter and provided a robust current-quarter outlook. Despite this positive news, the stock slipped by 1%. Zscaler reported adjusted earnings of 64 cents per share, surpassing analysts’ expectations of 49 cents. Additionally, its revenue exceeded consensus estimates by $25 million, totaling $455 million. The company also expressed confidence that its earnings and revenue for the current quarter would outperform analysts’ forecasts.
2. GitLab – Impressive Second-Quarter Report
GitLab, a technology platform, experienced a 4% increase in its stock following a strong second-quarter report and promising current-quarter guidance. The company posted adjusted earnings of 1 cent per share and generated $140 million in revenue. Analysts had anticipated a loss of 3 cents per share and revenue of $130 million. GitLab’s outlook for current-quarter revenue also exceeded analyst expectations.
3. Gogo – Share Repurchase Program Approval
Broadband company Gogo saw its stock advance by 3.5% after announcing the approval of a share repurchase program worth up to $50 million. This move signals the company’s confidence in its future performance.
4. Asana – Strong Performance Despite Stock Decline
Asana, a work management stock, posted a 2.8% decline in its stock price despite delivering strong financial results and an optimistic outlook. The company reported a loss of 4 cents per share on $162 million in revenue, outperforming analyst estimates of an 11-cent loss per share and $158 million in revenue.
5. AeroVironment – Beating Expectations
Shares of AeroVironment, a maker of unmanned aircraft systems, surged by nearly 12% after exceeding analysts’ expectations in its fiscal first quarter. The company reported adjusted earnings of $1 per share on $152 million in revenue, surpassing forecasts of 26 cents per share in earnings and $129 million in revenue.
Investors and market observers are closely monitoring these companies’ performances, as they provide valuable insights into various sectors of the market, including technology, security, and aerospace.