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US Markets
Walt Disney Quarterly Results Beat Estimates; Reiterates Expectations for Growth Acceleration
Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half.The company on Wednesday reported adjusted earnings of $1.57 per share for the quarter ended March 28, up from $1.45 the year before, topping the FactSet-polled consensus of $1.49. Revenue improved 7% to $25.17 billion, surpassing the Street's view for $24.87 billion.The stock rose 4.2% in the most recent premarket activity."We remain focused on executing our long-term growth strategy," Chief Executive Josh D'Amaro and Chief Financial Officer Hugh Johnston said in prepared remarks. "Our creative and operational momentum drove strong quarterly results, and we continue to expect growth to accelerate in the second half of the fiscal year."D'Amaro assumed the CEO role in March, succeeding Robert Iger, who will remain as a senior adviser and board member until the end of the year.For fiscal 2026, the media and entertainment giant anticipates adjusted EPS to grow by 12%, excluding the impact of the 53rd week, and 16% when including that week. It previously projected the metric to rise by double digits. For fiscal 2027, Disney reiterated its guidance for double-digit adjusted EPS growth.The current average analyst estimate on FactSet is for non-GAAP EPS of $6.63 and $7.35 for fiscal 2026 and 2027.For the second quarter, revenue in the entertainment division climbed 10% to $11.72 billion, amid a revenue gain of 13% in subscription video-on-demand services, driven by "improved monetization" following last year's rate adjustments and volume growth, according to D'Amaro and Johnston. Subscription and affiliate fees inclined 14%.Experiences revenue moved 7% higher to $9.49 billion, with global guests, which aggregates domestic and international parks attendance along with passenger cruise days, up 2% on a yearly basis, D'Amaro and Johnston said. Domestic and international parks and experiences grew 6% and 11%, respectively, to $6.92 billion and $1.6 billion, while consumer products sales inclined 3% to $974 million.Attendance at domestic parks ticked down 1% on a sequential basis, "reflecting, in part, continued softness in international visitation," according to D'Amaro and Johnston.The company is beginning to lap attendance headwinds faced in domestic parks over the past year, the executives noted. "While we acknowledge the potential impact of heightened global macro uncertainty on consumers, we are encouraged by current demand and expect year-over-year attendance at our domestic parks in (the third quarter) to show improvement compared to (second-quarter) results," they added.Disney's sports division ticked up to $4.61 billion from $4.53 billion in the prior-year quarter. For the ongoing three-month period, the company expects the segment's operating income to decline by about 14% on an annual basis. The metric was down 5% in the second quarter.
$DIS
Asia
Market Chatter: Thailand Ends 25-Year Energy Exploration Agreement with Cambodia
Thailand ended a 25-year contract with Cambodia to jointly explore hydrocarbons in the Gulf of Thailand on Tuesday, Reuters reported the same day.The move reportedly came despite Cambodia's insistence to see the entire term of the agreement through.The termination had reportedly been anticipated for some time, and comes after armed clashes between the countries last year, according to the report.Thai Prime Minister Anutin Charnvirakul denied clashes along the border were the reason to scrap the contract and described it as "part of his policy" amid what he termed was a lack of progress after 25 years.Anutin had pledged to cancel the agreement as part of his election campaign which had him re-elected as premier.Cambodia's Foreign Minister Prak Sokhonn conveyed disappointment over the move, Reuters said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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Mining & Metals
Mink Ventures Identifies Eight New High Priority Drill Targets at Warren Project in Ontario
Mink Ventures (MINK.V), a Canadian mineral exploration company exploring for critical minerals in Ontario, has identified eight new high priority drill targets after receiving preliminary airborne electromagnetic (VTEM) survey data for the Warren nickel-copper-cobalt project in Ontario, the company said Wednesday.The presence of nickel, copper, and cobalt mineralization within a massive sulfide zone in the recent 2026 drilling on the project's A zone supports the potential for the deposition of larger magmatic sulphide zones across the property, Mink added.The recently acquired airborne data covers the western portion of the property where VTEM coverage was incomplete, the company noted.VTEM can penetrate up to 500 meters and can better define potential massive sulphide mineralization targets similar to the mineralized zone intersected on the A Zone, it said. Recent drilling at A Zone returned 7.1 meters of 0.44% Ni, 0.28% Cu and 0.06% Co; including a higher-grade intercept of 4 meters of 0.58% Ni, 0.18% Cu and 0.08% Co., it added."The survey data identified eight, brand new, high priority drill targets that are fully permitted and drill ready, enables our team to best direct the focus of our next exploration and drill campaign at Warren," Chief Executive Officer Natasha Dixon said.
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