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How Will the Coronavirus Impact Disney, Roku and Uber Earnings?
On today’s episode of Full Court Finance here at Zacks, Ben Rains dives into what to expect from Disney (DIS - Free Report) , Roku (ROKU - Free Report) , and Uber (UBER - Free Report) earnings this week. The three firms are all key names on Wall Street and will help investors better understand how the coronavirus is impacting the economy.
The overall first quarter earnings picture for the S&P 500 is rough, with our current Zacks estimates calling for total earnings to sink 12.5% on 2.1% higher revenues. And things are expected to get far worse in the second quarter. That said, Amazon (AMZN - Free Report) , Apple (AAPL - Free Report) , Microsoft (MSFT - Free Report) , and other big tech names showed their resilience last week (also read: Tech Sector Shows its Earnings Power).
With this in mind, Wall Street will be focused on Disney’s Q2 fiscal 2020 report after the closing bell on Tuesday. The coronavirus has put a halt to many of the entertainment powerhouse’s key businesses, which will put a ton of pressure on its new streaming TV service.
Meanwhile, Roku seems tailor-made for the current stay-at-home environment as one of the only pure-play streaming TV stocks alongside Netflix (NFLX - Free Report) —which blew away its Q1 subscriber projections. Despite its ability to grow during the coronavirus, Roku did pull its full-year guidance amid the uncertainty.
Lastly, Uber, which reports on Thursday, May 7 along with Roku, could take a big hit as people cut down on all forms of travel. Investors will also be watching closely to see how Uber continues to handle its cost-cutting measures as it competes alongside Lyft (LYFT - Free Report) .
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>