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Mean Reversion
Sean H. & Jocelin A.
August 07, 2024 • Estimated Reading Time: 9 minutes
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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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
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