(KRON) – Loser: Stocks attempt lackluster comeback
Stocks extended a streak of choppy trading as markets attempt to recover from a steep sell-off earlier this week.
Economic activity fell 1.4%, unexpectedly contracting at the start of 2022 for the first time in nearly two years as lingering supply chain imbalances, inflationary pressures, and war in Eastern Europe weighed on growth.
This is noise, not signal: the economy is not falling into recession.
McDonald’s revenue tops estimates, fueled by price hikes and overseas same-store sales growth.
Winner: Facebook (Meta) soars 17% after results
Facebook parent company Meta soared 17% after the social media platform showed a rise in daily active users of 3%. CEO Mark Zuckerberg tried to reassure investors about metaverse-related expenses.
Meta’s advertising revenue and profitability declined more than the normal first-quarter seasonal drop.
Meta’s stock has fallen nearly 50% so far this year, thanks to growing concerns that its advertising business might suffer due to Apple’s privacy crackdown.
But for the first time, Meta laid out a rough game plan during its earnings call on how it will attempt to revamp its struggling ad business.
Zuckerberg said Meta would slow its metaverse spending, after the division lost another $2.9 billion in the first quarter.
Meta bought back $9.5 billion in stock in Q1 amid rout
Winner: Disney Promotes Avatar 2 release date of December 16
Disney stock has struggled recently, but lets not forget they have Star Wars, Pixar, ESPN, Indiana Jones, Nemo, Toy Story, Marvel and much more, including Avatar 2, 3, 4, and 5.
Disney released the first trailer for the Avatar sequel, called The Way of Water, and announced it’ll hit theaters December 16.
Some Avatar stats that don’t seem true, but are:
- The original movie from 2009 is the highest grossing film in history.
- There are four total sequels planned, with the final entry arriving in 2028.
- Avatar 2 was originally supposed to open in 2014 (true), but they couldn’t find enough blue paint (probably true).
I like Disney stock as it is being lumped in with Netflix but I think they have long term better content and IP.