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Research Alert: Disney Delivers Solid Q2 Beat With Streaming Turnaround And Experiences Growth

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

DIS reported Q2 FY 26 (Sep.) adjusted EPS of $1.57 vs. $1.45 prior year (+8%) and beat consensus estimates, with total segment operating income rising to $4.6B from $4.41B (+4%). Entertainment SVOD delivered $582M operating income (+88%) with 10.6% margin, while Experiences achieved record revenue of $9.5B (+7%) and operating income of $2.6B (+5%), though Sports segment faced headwinds with operating income declining 5% due to higher programming costs. A new CEO brings greater focus on technology investments and better integration across business segments, in our opinion. Management provided positive FY 26 guidance targeting 12% adjusted EPS growth, Disney+ operating margin of 10%, and at least $8B in share repurchases. We think the Experiences segment will drive future growth with the $60B 10-year capital investment plan for cruise fleet expansion and theme park attractions, while we expect content investment cycle to create FY 26 margin pressure as Entertainment commits to billion-dollar theatrical releases.

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Copper Lake Resources to Launch 20-For-1 Reverse Stock Split

Copper Lake Resources (CPL.V) intends to consolidate its common shares on the basis of 20 pre-consolidation common shares for every one post-consolidation common share effective as of May 8, it said Wednesday.The company currently has 271-million common shares issued and outstanding, and following the consolidation, the company will have about 13.6-million common shares issued and outstanding, prior to rounding for fractional shares.Its outstanding options of 19.5-million and warrants of 15.9-million will also be adjusted on the same basis as the common shares with proportionate adjustments being made to exercise prices.Shares of the company were last seen unchanged at $0.02 on the TSX Venture Exchange.

$CPL.V
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US Total Crude Oil Stocks Fall in Week Ended May 1

US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.5 million barrels in the week ended May 1 following a decrease of 13.4 million barrels in the previous week.Excluding inventories in the SPR, commercial crude oil stocks decreased by 2.3 million barrels after a 6.2-million-barrel drop in the previous week, compared with the 3.4-million-barrel decrease expected in a survey compiled by Bloomberg as of 7:35 am ET.Stocks in the SPR declined by 5.2 million in the week after falling by 7.1 million in the previous week.Overall crude oil stocks were down 0.9% from the previous week but were still up 1.5% from a year earlier. Crude oil inventories are about 1% above the five-year average for this time of year.Gasoline stocks declined by 2.5 million barrels, compared with the 2.6-million-barrel decrease expected. Gasoline stocks edged lower by 1.1% from the previous week and 2.6% from a year earlier.Distillate stocks dropped by 1.3 million barrels in the current week, compared with an expected decrease of 2.3 million barrels. Distillate stocks were down 1.2% from the previous week and 4.1% lower than in the same week a year ago.Refineries operated at 90.1% of their capacity, up from 89.6% in the previous week.

Research

Research Alert: L: Q1 Revenue And Eps Miss, Though Results May Not Be Comparable To Consensus

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:L's Q1 revenue of CAD14.4B (+4% Y/Y) missed consensus by CAD90M, while adjusted EPS of CAD0.49 (+9% Y/Y) fell short of CAD0.52 estimates, though we think PC Financial's presentation in discontinued operations may affect comparability. Food retail same-store sales of 2.4% accelerated from Q4's 1.5%, with drug retail posting 4.1% growth. We view the solid same-store sales momentum as encouraging, particularly given internal food inflation remained well below the 4.4% CPI, indicating L's strong value proposition. Management reiterated 2026 guidance for high single-digit EPS growth and CAD2.4B in gross capex. Store expansion accelerated with 13 net openings, including five hard discount locations, aligning with consumer preference shifts toward value formats. Strong FCF of CAD621M (+189% Y/Y) supported aggressive share repurchases of CAD648M. We believe the pending PC Financial divestiture in Q3 2026 will simplify operations and provide additional capital flexibility for core retail growth.

$L