Actionable news
All posts from Actionable news
Actionable news in JCP: J.C. PENNEY COMPANY Inc,

Week in Review: Disney, Retailers Push Losing Streak Into Week No. 3


Earnings disappointments Disney (DIS) and retailers combined forces to draw Wall Street's losing streak into another week.

For the week, the S&P 500 fell 0.33%, its third consecutive week of losses. The Dow Jones Industrial Average dropped 0.9%, and the Nasdaq slipped 0.24%.

Since the beginning of the year, the S&P 500 has gained 0.32%, and the Dow is up 0.88%.

Back by Popular Demand…“Confessions of a Street Addict” Get a FREE signed copy of Jim Cramer’s national best-seller when you gain access to his multi-million dollar charitable trust portfolio! Click here to see Jim’s holdings and get your FREE gift.

Disney ended the week 4.5% lower following a lackluster second quarter, its first earnings miss in five years. The world's largest entertainment company underperformed in its media-network and consumer products businesses. Expectations were high heading into the earnings report after the box office success of Star Wars: The Force Awakens and Zootopia.

"With puts/takes in the quarter, and a rare miss, we think Disney will be range-bound for a while," RBC Capital Markets wrote in a note. "We're aggressively sitting this fence with our Sector Perform rating, and would be more constructive on a re-acceleration in earnings growth or a step-up in cash deployment."

The first quarter was not a happy one for department store chains. JCPenney (JCP - Get Report) and Kohl's (KSS) suffered an unexpected decline in first-quarter same-store...