Wall Street Breakfast August 11: Disney Jumps as Parks Surge Leads Easy Third-Quarter Earnings Beat

Wall Street Breakfast

Seeking Alpha

Business, Investing, Business News, News

3.8 • 950 Ratings

🗓️ 11 August 2022

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Disney jumps as Parks surge leads easy third-quarter earnings beat. CVS Health tried to acquire One Medical before Amazon eventually did - Bloomberg. Former JPMorgan metals traders found guilty in spoofing trial. Don't expect peak inflation to silence the Fed's hawkish squawks. Catch today’s WSB article here.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to Seeking Alpha's Wall Street breakfast, your daily source of market news and analysis.
0:06.8	Subscribe to this podcast on Apple Podcast, Spotify or Stitcher.
0:11.2	Good morning. Today is Thursday, August 11th,
0:14.0	and I'm your host Julie Morgan.
0:15.8	Our top stories, Disney, J.P. Morgan, and Amazon.
0:20.4	And later, Google, Domino's, and Nintendo.
0:25.0	Stock surged Wednesday following the release of consumer price data
0:28.6	that showed cooling inflation in July.
0:31.0	The NASDAQ and S&P 500 both jumped to more than 2% while the Dow added more than 500 points.
0:37.0	The S&P finished above 4200 for the first time since May. All 11 S&P sectors finished higher.
0:44.3	This included greater than 2% gains in communication services,
0:48.2	consumer discretionary, financials, industrials,
0:51.3	infotech, and materials.
0:53.4	The rate of annual CPI inflation fell to 8.5% in July from 9.1% in the previous month.
1:00.8	The 10-year Treasury yield was basically flat at 2.79 percent. The two-year
1:05.8	yield dropped six basis points to 3.23 percent. The market is now pricing in
1:11.2	a 50 basis point rate hike in September, down from 75.
1:15.6	A further 50 basis points is priced in for November.
1:20.3	In the earnings spotlight today, Cardinal Health, Brookfield Asset Management, Rivian Automotive, U.S. Foods, and Illumina.
1:30.0	In our day watch is also one of our top stories, Walt Disney.
1:33.9	At last check, the shares are up more than 7% in pre-market trading.
1:38.3	Revenue for Disney Parks, Experiences and products jumped 70% to 7.39 billion dollars, an operating income
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Seeking Alpha, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Seeking Alpha and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.