Bob Iger Returns To Disney

A stock price falling nearly 60% over the last eighteen months left many investors wondering what could turn things around at the company. πŸ€”

Well, in a late-Sunday announcement, Disney informed the world that Bob Iger is back as Chief Executive Officer (CEO). Just eleven months after leaving, he’ll replace his hand-picked successor, Bob Chapek, who has faced much scrutiny over his company management.Β 

Reports are that Kareem Daniel, Disney’s head of media and Chapek’s right hand, is also being pushed out. πŸ‘‹

Disney+ has been a major growth driver for the company, but it came with many increased costs. That, combined with other business segments like parks missing analyst expectations, had investors concerned that the company was headed down the wrong path. There were also concerns that Chapek’s management style did not jive with Disney’s family-friendly culture.

Overall, investors appeared thrilled that “Bob the Builder” Iger was back to right the ship. $DIS shares rose 6.30% today. πŸ‘

Retailers’ Rocky Start To ’23

As companies and investors alike shake off their holiday slumber, the time for results has come. Earnings season is kicking off on Friday with the banks, but in the meantime, several retailers have already preannounced that their holiday quarter didn’t go as well as they had hoped. πŸ‘Ž

Kicking off the weakness was Lululemon, which told investors at the ICR conference that its Q4 net revenue will be between $2..66 to $2.70 billion. This was marginally higher than its previous guidance, but its higher earnings per share range of $4.22 to $4.27 missed expectations.

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Party In The USA (Bankruptcy Courts)

Yesterday we heard that Bed Bath and Beyond is concerned about its future. And today, another struggling retailer joined the mix, expressing concerns of its own. ⚠️

Party City announced today that it’s preparing to file for bankruptcy within weeks. Like Bed Bath & Beyond, it’s burned through its cash trying to turn the company around. However, sales have remained weak and pressured by inflation and the softening economy.

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China Puts $FUTU’s Future On Hold

Last year, Chinese officials began looking to crack down on mainland clients using offshore trading services. Many believed New York-listed Futu Holdings and UP Fintech Holdings would face regulatory risks because they lack licenses in China. 🚨

Unfortunately for investors, that risk has come to fruition.Β Today, China’s securities regulator banned the companies from opening new accounts with mainland Chinese investors.

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AMC Apes Drunk On Liquidity

The last time we discussed AMC Theaters was two weeks ago when its stock fell despite earnings and revenue beating estimates. At the time, we noted that the overhang from an upcoming shareholder vote and concern about the company’s liquidity was keeping a lid on performance. ⚰️

Shares have declined further since then, so let’s discuss how it got here and what happened at today’s shareholder vote.

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