Plus, Snap stock takes a plunge as investors are unimpressed
It’s not just the Kansas City Chiefs that Taylor Swift is helping out as Super Bowl Sunday approaches.
Here are some highlights from a busy week in corporate earnings reports.
Disney $DIS stock jumped more than 10% during morning trading on Thursday (Feb. 8) as investors welcomed announcements from the media conglomerate about new partnerships with Taylor Swift and Fortnite maker Epic Games. The announcements followed a strong first quarter earnings report from the company.
There was an awkward moment on the Ford $F earnings call yesterday (Feb. 6). Investors are happy that the company is increasing its dividend. Revenue was better than expected at $43 billion for the quarter, even as the months-long United Auto Workers strike took a big bite out of profits (a $523 million loss, really) because dealers got less inventory and workers negotiated better pay and benefits. But there was another cause for the womp-womps: Reduced ambitions for Ford’s electric vehicle plans.
Indianapolis-based pharmaceutical company Eli Lilly $LLY sold $176 million of its new weight-loss drug Zepbound in just under a month, according to the company’s fourth-quarter earnings report released Tuesday. Zepbound, a GLP-1 weight loss drug similar to Ozempic and Wegovy (both made by Novo Nordisk), launched in December.
The stock of Snap $SNAP, the parent of Snapchat, dropped over 35% during intraday trading on Wednesday (Feb. 7), a day after the company’s fourth-quarter earnings report failed to impress investors.
