Nasdaq News

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(RTTNews) - The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day slide in which it had stumbled almost 65 points or 1.2 percent. The Jakarta Composite Index now rests just above the 4,900

Stocks may have recovered most of what was lost in February and March, shortly after the novel coronavirus began to spread in the U.S., but few investors are naive enough to think the market and the economy are as strong as they were early this year. The recent bullishness is mo

China's factory activity expanded at a stronger pace in June, as the economy continues to recover after the government lifted strict lockdowns and ramped up investment, but export orders remained weak as the global coronavirus crisis shatters demand.

(RTTNews) - The Japanese stock market is notably higher on Tuesday and the safe-haven yen weakened following the overnight gains on Wall Street as upbeat U.S. housing data and hopes of more stimulus measures by the Federal Reserve offset worries about the sharp spikes in new cor

Gold prices held steady on Tuesday and were heading for their biggest quarterly rise in more than four years as fears over rising coronavirus cases around the world boosted demand for the safe-haven metal.

China's parliament passed national security legislation for Hong Kong on Tuesday, setting the stage for the most radical changes to the former British colony's way of life since it returned to Chinese rule almost exactly 23 years ago.

South Korea's central bank said on Tuesday it plans to provide dollar funds to local financial firms via repurchase agreements to stabilise the foreign exchange market if volatility heightens due to the coronavirus pandemic and global economic recession risks.

Postmates Inc has revived plans for an initial public offering (IPO) following a string of dealmaking in the U.S. online food delivery service sector, people familiar with the matter said on Monday.

(RTTNews) - The Taiwan stock market on Monday ended the seven-day winning streak in which it had accelerated more than 350 points or 3.1 percent. The Taiwan Stock Exchange now rests just above the 11,540-point plateau although it's got a firm lead for Tuesday's trade.

Major sovereign bond yields, which have been low for years, are expected to be close to current levels for the next 12 months, as the global economy struggles to recover from the impact of COVID-19, a Reuters poll found.

Venezuelan President Nicolas Maduro on Monday ordered the European Union envoy to leave the country, hours after the EU announced sanctions against several officials loyal to the socialist leader.

Governments are set to pledge billions of dollars in aid for Syrians at a virtual conference on Tuesday to help refugees enduring Syria's ninth year of armed conflict, as COVID-19 and high food prices worsen the plight of millions.

Alphabet Inc's Google said on Monday that it had removed search ads that charged users searching for voting information large fees for voter registration or harvested their personal data.

Japan's benchmark Nikkei average opened up 1.55 percent at 22,335.10 on Tuesday, while the broader Topix gained 1.36 percent at 1,570.28.

(RTTNews) - The Singapore stock market turned lower again on Monday, one session after it had halted the two-day slide in which it had fallen almost 45 points or 1.8 percent. The Straits Times Index now rests just beneath the 2,575-point plateau although it figures to bounce hig

Probably the best thing to say about world financial markets so far this year is simply that it has been quite a ride.

Asian markets were poised to follow Wall Street's firm lead on Tuesday as the sentiment boost from upbeat U.S. data outweighed the threat of rising COVID-19 infections in the world's largest economy.

Disney’s (DIS) plans for a gradual return to normality have been thrown into disarray, as the coronavirus has made it clear it has not left the building yet. The recent spike in cases caused the company to delay the opening of Disneyland in California, which was originally slated for July 17. Walt Disney World in Florida is scheduled to open its doors again on July 11 but that also appears highly unlikely now, considering the host of new COVID-19 cases in the state.

Theme parks aren’t Disney’s only problem. No date has been set yet for the resumption of live movie production, either. What’s more, the highly anticipated release of its summer 2020 blockbuster, Mulan, has been pushed back yet again from July 24 to August 21.

The lack of clarity has led to a reevaluation at investment firm Needham. 5-star analyst Laura Martin noted, "Owing to persistent COVID-19 uncertainties, we lower our FY20 DIS estimates to revenue of $68.1 billion (down 3% year-over-year and 5.5% below our previous estimate), and Adjusted EPS to $1.34 (down 77% year-over-year and 51% below our previous estimate).” 

Looking ahead to August’s FY3Q20 results, Martin expects revenue to decline by 35% year-over-year (13% below her original estimate) to $13.2 billion. Additionally, the analyst thinks adjusted EPS will plunge into the red, forecasting a loss of $0.65 per share. The figure is well below 3Q19’s EPS of $1.35, and lower than Needham’s previous call for EPS of $0.18.

The one bright spot amid all of the anticipated year-over-year contractions is reserved for Disney’s OTT offerings. Based on these products, Martin believes “DIS will be a winner of the ‘streaming wars’.”

The segment boasts three “unique” services - ESPN+, Disney+ and Hulu. These, according to Martin, provide Disney with “the ability to target different market segments and cross promote and bundle with discounts and a much more favorable subscription service than that of streaming leader and rival Netflix.”

To this end, Martin keeps a Hold rating on Disney without suggesting a price target. (To watch Martin’s track record, click here)

The rest of the Street remains cautiously optimistic about Disney. The analyst consensus rates the House of Mouse a Moderate Buy, based on 10 Buys, 11 Holds and 2 Sells. At $121.83, the average price target indicates upside potential of 12% over the coming months. (See Disney stock analysis on TipRanks)

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Brazil's Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil field, the largest in the world, achieved record production levels on June 27, totalling 664,000 bpd and 822,000 boed.