Stocks - Disney, Virgin Galactic Fall in Premarket
Investing.com
Published Feb 26, 2020 09:04AM ET
By Geoffrey Smith
Investing.com -- Stocks in focus in premarket trade on Wednesday, February 26th.
- Walt Disney (NYSE:DIS)stock was down 1.5% at a 10-month low after the company abruptly announced that chief executive Robert Iger will step down with immediate effect (he’ll carry on as executive chairman for the rest of his contract, which ends in December 2021).
- Iger’s successor is Bob Chapek, a long-term company insider who currently runs the theme park business. The outlook for that division has been badly clouded by the coronavirus outbreak, which has led to parks in China and Hong Kong being subject to extended shutdowns.
- Salesforce (NYSE:CRM)stock fell 1.0% after the enterprise software company’s earnings per share fell to 66c from 70c in the fourth quarter of 2018. That was still some 20% above consensus forecasts.
- Virgin Galactic (NYSE:SPCE)stock fell 4.7% after the space tourism company’s quarterly results reminded exuberant investors how far it still is from commercializing its vision.
- Virgin’s fourth-quarter net loss widened to $73 million from $46 million a year ago. The company said it will resume accepting deposits from prospective future customers, a move that will slightly reduce its cash burn but risks alienating customers with the reality of long wait times.
- Lowe’s (NYSE:LOW) stock rose 1.7% after the company reported fourth-quarter earnings ahead of expectations at 94 cents a share. However, its guidance for the coming year, at a midpoint of $6.55 a share, was fractionally below consensus forecasts.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.