Tuesday, August 16, 2016

Today's must-read reports are for Disney (DIS), ConocoPhillips (COP) and Macy's (M).

Macy's shares have spiked on the earnings announcement, helping the stock build on earlier momentum (the stock is up almost 14% year to date). In addition to top and bottom-line beats, the department store giant reiterated earlier guidance for the year and showed notable improvement in inventories level after two quarters of sub-par performance. Importantly, Macy's announcement a major restructuring that will involve the retailer reducing its store count by more than 10%. Estimates have been going up lately, pushing the stock to Zacks Rank # 2(Buy). (You can read the full research report on M here>>)

Disney shares have lagged this year on growing concerns about the long-term sustainability of ESPN's dominance in the changing media landscape of chord cutting and live streaming. In the updated research report issued today, the Zacks analyst discusses teh pros & cons of investing in Disney shares, but likes the growth outlook for the media giant's Parks & Resorts division. (You can read the full research report on DIS here>>)

ConocoPhillips didn't impress with its Q2 quarterly report and the company's hasn't benefited as much from this year's oil rebound as many of its peers have. But this underperformance and resultant valuation discount does offer a good opportunity for patient long-term investors given the company's attractive and relatively low-risk asset base in North America, Australia and Asia. (You can read the full research report on COP here>>)

You can find all of today's stock research reports here >>>

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Sheraz Mian

Director of Research

Note: Sheraz Mian regularly provides earnings analysis on Zacks.com and appears frequently in the print and electronic media. His weekly earnings related articles include Earnings Trends and Earnings Preview. He also provides weekly commentary to Zacks Premium subscribers and manages the Zacks Focus List and  Top 10  portfolios.

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