The Zacks Analyst Blog Highlights: Apple, Broadcom, Qualcomm, Walt Disney And Twenty-First Century Fox

For Immediate Release

Chicago, IL – November 13, 2017 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Apple Inc. (NASDAQ:AAPL) , Broadcom Limited (NASDAQ:AVGO) , Qualcomm Incorporated (NASDAQ:QCOM) , The Walt Disney Company (NYSE:DIS) and Twenty-First Century Fox, Inc. (NASDAQ:FOXA) .

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.

Here are highlights from Friday’s Analyst Blog:

Dow 30 Stock Roundup: Disney Misses on Earnings, and More

The Dow notched up minor gains over the week, before ultimately declining on concerns related to Trump’s tax proposals. Mergers and acquisitions related reports helped the index notch up fresh records even though movements continued to occur within a tight band. Ultimately, prospects of a delay in the implementation of tax cuts proposals dragged the index downward toward the end of the week.

Last Week’s Performance

The index gained 0.1% last Friday on the back of strong earnings performance from Apple Inc. Better-than-expected earnings and favorable quarterly outlook from the tech giant led all the three key U.S. indexes to new record highs despite mixed jobs data. Additionally, the ISM services index hit its highest level in more than 12 years, which in turn boosted the broader markets.

The index gained 0.5% over last week. Benchmarks closed in positive territory for the week after the Fed chose not to hike rates this month. Moreover, the Fed offered a positive view about the U.S. economy and said that it has been improving at a ‘solid rate.’

Also, House Republicans finally revealed a detailed framework for the new tax policy, which also boosted sentiments. Additionally, upbeat earnings results also led the markets higher.

The Dow This Week

The index inched up by 0.04% on Monday following news of a possible merger between Broadcom Limited and Qualcomm Incorporated. This is the 26th trading day when all-time high was achieved by all the three key U.S. indexes in 2017, marking the highest number of record highs achieved in a single year. Additionally, optimism over President Trump’s tax cut plans and upbeat third quarter earnings also boosted investor sentiment.

The index once gained 0.04% on Tuesday to finish at a fresh record high. Weak profit forecasts from key stocks pulled the consumer discretionary sector downward, which in turn weighed on the broader markets. Also, decline in bond yields weighed on financials and concerns over the timing and implementation of Trump’s tax cut plans resulted in a small-cap stock selloff.

Meanwhile, reports emerged that The Walt Disney Company was in talks recently with Twenty-First Century Fox, Inc. to acquire a large part of the latter’s entertainment business. Although, there is no certainty whether the deal will go through, shares of Walt Disney increased 1% following this development. Gains in Walt Disney boosted the blue-chip index to close on a new high.

The index increased 0.03% on Wednesday, settling at yet another all-time high even as Apple’s market value jumped over the $900 billion mark for the first time ever. However, concerns remained over the timing and implementation of Trump’s tax cut plans after Republicans lost elections to the governorship of Virginia and New Jersey on Tuesday. These factors, along with declining bond yields weighed on bank stocks.

The index declined by 0.4% on Thursday following concerns over a likely delay in the Trump administration’s tax cut plans. The Senate Finance Committee released a tax plan which aims to reduce corporate tax rate to 20% but not before 2019, in contrast to the 2018 deadline proposed by the House Republicans.

Although, investors turned jittery following concerns that tax cut may be delayed, markets curtailed some of the day’s declines after the House Ways and Committee passed a bill to reframe the tax reforms.

Components Moving the Index

Disney reported negative earnings surprise in the fourth-quarter fiscal 2017 after beating the estimate in the trailing three quarters. Moreover, the company’s top-line also missed the Zacks Consensus Estimate for the fifth straight quarter.

The company’s adjusted earnings in the reported quarter came in at $1.07 per share, missing the Zacks Consensus Estimate of $1.12 and also decreased 3% year over year. Moreover, revenues came in at $12,779 million, down 3% year over year and also missed the Zacks Consensus Estimate of $13,149 million.

The company’s disappointing results in the quarter was primarily caused by dismal performance of Media Networks, Studio Entertainment and Consumer Products & Interactive Media, which overshadowed growth at Parks and Resorts.

Even though the company reported dismal results, shares inched up nearly 1% during the after-hour trading session on Nov 10 after the company announced that it has sealed a deal with Rian Johnson, the director of The Last Jedi, to produce a brand new Star Wars trilogy.

Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.

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Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

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