Mean Reversion

TLDR

MARKET RECAP → Stocks closed lower on Wednesday as the market's recovery attempt from Monday's sell-off faltered.

DISNEY'S IMPRESSIVE Q3 PERFORMANCE→ 📈 Disney’s (DIS) Q3 revenue hit $23.155 billion, earnings soared to $2.621 billion, and streaming services led the charge, thanks to smart content and pricing moves.

GOOGLE VS. MICROSOFT: DÉJÀ VU → 🚨 Google (GOOG) got slapped with a Microsoft-style antitrust ruling for using its search dominance to crush competition and hike ad prices, but they're appealing, claiming their search engine is just too good to be evil​.

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MARKETS

Today’s S&P 500 Heatmap

Notable Earnings This Week

TODAY’S TOP NEWS

Disney's Impressive Q3 Performance

📈 Revenue Rocket: Disney's Q3 revenue soared to $23.155 billion, up from $22.330 billion last year, proving that Mickey's magic touch still works wonders in the financial realm.

💵 Earnings Explosion: The company reported earnings of $2.621 billion, a staggering turnaround from the previous year's $460 million loss. Adjusted earnings per share were $1.39, surpassing analyst predictions of $1.19.

📺 Streaming Success: Disney's streaming services, including Disney+, Hulu, and ESPN+, played a pivotal role in this growth, driven by new content and strategic pricing. Bob Iger highlighted their plans to enhance the platform with more features and reduce churn through bundling and technology improvements.

TODAY’S TOP NEWS

Google vs. Microsoft: Déjà Vu

Antitrust Echoes 🏛️ The ruling against Google echoed the historic Microsoft monopoly case from the 1990s, as the court found Google guilty of leveraging its search dominance to stifle competition and inflate ad prices.

Monopolistic Behavior 💸 The judge highlighted Google's dependence on default search settings, noting potential billion-dollar losses if it lost its status on platforms like Safari, underscoring its monopolistic behavior.

Appeal and Criticism 📜 Despite the ruling, Google planned to appeal, emphasizing its top-notch search quality and consumer preference, while facing criticism for not preserving vital chat evidence during the investigation.

BULL VS. BEAR

NOTABLE POSTS

KEEP READING

In a reversal, Disney’s media assets are starting to generate more excitement than its parks (CNBC)

Weekly mortgage refinance demand soars 16% as rates sink to lowest level in over a year (CNBC)

Shopify shares soar 22% after earnings top expectations, company gives upbeat forecast (CNBC)

Sunrun sees market opportunity after SunPower files for bankruptcy, company’s shares surge (CNBC)

A popular trading strategy just blew up in investors’ faces (CNN)

Stocks turn lower as Wall Street struggles to stage a comeback (CNN)

‘Cockroaches of the factory’: Workers paint a picture of chaos and dysfunction at Boeing (CNN)

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