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Disney posts higher second-quarter earnings, revenue thanks to strong theme parks business

Published Mon, 16 Dec 2024 15:03:58 GMT

Ongoing strength at its theme parks and an improving streaming business propelled The Walt Disney Co. to higher profits and revenue in its fiscal second quarter.The entertainment giant, which is in the midst of a “ strategic reorganization,” has been working on trimming about 7,000 jobs as part of a targeted $5.5 billion cost savings across the company.Bob Iger, who returned in November to take over the CEO post from Bob Chapek, has been working over the past six months to turn around Disney’s streaming business while simultaneously making sure that the financial might coming from its theme parks doesn’t waver.He’s also had to contend with trying to protect Disney World’s theme park district from a takeover by Florida Governor Ron DeSantis. Disney sued DeSantis in late April, alleging the governor waged a “targeted campaign of government retaliation” after the company opposed a law critics call “ Don’t Say Gay.” Disney’s legal filing is the latest salvo in a more t...

Brazilian clubs suspend 5 players amid match-fixing probe

Published Mon, 16 Dec 2024 15:03:58 GMT

SAO PAULO (AP) — Five soccer players were suspended by their top-flight Brazilian clubs on Wednesday as part of a sprawling match-fixing investigation.Athletico said on its social media channels that 20-year-old left-back Pedrinho and 22-year-old midfielder Bryan Garcia had been suspended “preemptively” until the end of the investigation by prosecutors in the state of Goias.Cruzeiro, Fluminense and America made the same decisions about 29-year-old midfielder Richard, 23-year-old defender Vitor Mendes, and 37-year-old right-back Nino Paraiba, respectively.None of players have responded to a request for comment from The Associated Press. They also haven’t commented on social media.Brazilian media raised concerns about the performances of all five players in matches from the 2022 season, and added they could be targets of the “Maximum Penalty” probe that began in February.Prosecutors did not confirm to the AP that these four players are under investigation but reported in a...

Organogenesis: Q1 Earnings Snapshot

Published Mon, 16 Dec 2024 15:03:58 GMT

CANTON, Mass. (AP) — CANTON, Mass. (AP) — Organogenesis Holdings Inc. (ORGO) on Wednesday reported a loss of $3 million in its first quarter.On a per-share basis, the Canton, Massachusetts-based company said it had a loss of 2 cents.The regenerative medicine company posted revenue of $107.6 million in the period.Organogenesis expects full-year revenue in the range of $454 million to $466 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORGO at https://www.zacks.com/ap/ORGOSource

Enright, 11th Hour Racing sail into Newport ahead of Ocean Race fleet

Published Mon, 16 Dec 2024 15:03:58 GMT

NEWPORT, R.I. (AP) — Rhode Island native Charlie Enright sailed the 11th Hour Racing team to victory in Leg 4 of the around-the-world Ocean Race, arriving in his home port of Newport on Wednesday about a half-hour in front of Team Malizia.Race officials reported that Enright was welcomed to port by the bellowing of ship’s horns.“In theory, almost all legs are worth the same points, but some legs mean more than others,” Enright said while en route to Newport. “There’s an anticipation mounting, and everyone has visions of what sailing into Newport will be like.”11th Hour Racing moved into second place in the overall standings with 18 points, one behind the Team Holcim-PRB boat that dismasted shortly after leaving Itajai, Brazil, on April 23 and shipped its boat to Newport, earning zero points on the leg. Team Malizia is tied for second after finishing 31 minutes, 41 seconds behind 11th Hour Racing.The GUYOT environnement — Team Europe boat also dismasted on the way to Newport and jury...

Jackson’s federally appointed water manager may also take over the city’s sewer system

Published Mon, 16 Dec 2024 15:03:58 GMT

JACKSON, Miss. (AP) — A federal appointee is managing the water system in Mississippi’s capital city, and the same might soon be true for the city’s sewer system. U.S. District Court Judge Henry Wingate said at a Tuesday hearing that he plans on placing Jackson’s sewer system under the authority of Ted Henifin, who was appointed in November to address the city’s water troubles. The water system partially failed in August, and for days people had to wait in line for water to drink, bathe, cook and flush toilets. The sewer system has also been beset by problems for years. The city agreed to enter a consent decree in 2012 with the U.S. Environmental Protection Agency to prevent the overflow of raw sewage and bring the city into compliance with the Clean Water Act. Reports required by the consent decree showed that 4.7 billion gallons of untreated or partially treated wastewater were dumped into the Pearl River between March 2020 and February 2022. “Every day that goes...

Disney: Fiscal Q2 Earnings Snapshot

Published Mon, 16 Dec 2024 15:03:58 GMT

BURBANK, Calif. (AP) — BURBANK, Calif. (AP) — The Walt Disney Co. (DIS) on Wednesday reported fiscal second-quarter profit of $1.27 billion.On a per-share basis, the Burbank, California-based company said it had net income of 69 cents. Earnings, adjusted for non-recurring costs, were 93 cents per share.The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 89 cents per share.The entertainment company posted revenue of $21.82 billion in the period, which met Street forecasts._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DIS at https://www.zacks.com/ap/DISSource

SLR Investment: Q1 Earnings Snapshot

Published Mon, 16 Dec 2024 15:03:58 GMT

NEW YORK (AP) — NEW YORK (AP) — SLR Investment Corp. (SLRC) on Wednesday reported first-quarter earnings of $6.8 million.On a per-share basis, the New York-based company said it had net income of 13 cents. Earnings, adjusted for investment costs, were 41 cents per share.The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.The business development company posted revenue of $53.5 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $55.5 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SLRC at https://www.zacks.com/ap/SLRCSource

Traeger: Q1 Earnings Snapshot

Published Mon, 16 Dec 2024 15:03:58 GMT

SALT LAKE CITY (AP) — SALT LAKE CITY (AP) — Traeger Inc. (COOK) on Wednesday reported first-quarter earnings of $8 million.On a per-share basis, the Salt Lake City-based company said it had net income of 7 cents. Earnings, adjusted for one-time gains and costs, were 4 cents per share.The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.The barbecue grill maker posted revenue of $153.2 million in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $151.5 million.Traeger expects full-year revenue in the range of $560 million to $590 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on COOK at https://www.zacks.com/ap/COOKSource

California’s Feinstein returns to Senate after monthslong absence

Published Mon, 16 Dec 2024 15:03:58 GMT

WASHINGTON (AP) — California Sen. Dianne Feinstein returned to the Senate on Wednesday after a two-and-a-half-month absence due to illness, giving majority Democrats a much-needed final vote as they seek to confirm President Joe Biden’s nominees and raise the nation’s debt ceiling in the coming weeks.Looking noticeably thinner and frail, Feinstein is using a wheelchair to get around the Capitol as she continues to recover from a case of shingles. She missed the Senate’s first votes on Wednesday morning but arrived outside the Senate in a car for an afternoon vote, helped into the wheelchair by aides and greeted by Senate Majority Leader Chuck Schumer with a handshake and affectionate pat on the back.In a statement, Feinstein, 89, said she was continuing to recover from side effects of the shingles virus and would work a reduced schedule. While she had returned to Washington on Tuesday, she missed a vote on Tuesday evening and two votes on Wednesday morning before returning for the a...

Airbnb, Twilio fall; Rivian, Exact Sciences rise

Published Mon, 16 Dec 2024 15:03:58 GMT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes Wednesday:Airbnb Inc., down $13.88 to $113.19.The short-term rental giant gave investors a disappointing forecast for bookings in the second quarter.Occidental Petroleum Corp., down $2.11 to $56.85.The oil company once owned by famed industrialist Armand Hammer reported weak first-quarter profit and revenue.Akamai Technologies Inc., up $6.66 to $85.54.The cloud services provider reported encouraging first-quarter earnings and revenue.Rivian Automotive Inc., up 25 cents to $14.11.The electric vehicle maker beat analysts’ first-quarter earnings forecasts.Exact Sciences Corp., up $7.73 to $78.73.The molecular diagnostics company raised its sales forecast for the year.Twilio Inc., down $7.08 to $48.92.The communications software company gave investors a weak sales forecast for this quarter.Toast Inc., up $1.66 to $21.12.The provider of point-of-sale software to restaurants gave Wall Steet an encouraging re...