Hot Stocks: DIS falls on earnings; SIX, SONO rise; ABC slips after WBA sells shares

The release of quarterly results remained a crucial catalyst for individual stock movements in Thursday’s pre-market trading. Disney (NYSE:DIS) was one of the biggest names to report, with the stock dropping on disappointing earnings and revenue.

Elsewhere, Six Flags (SIX) and Sonos (SONO) both saw pre-market strength following the release of Street-topping results.

In other news, AmerisourceBergen (ABC) retreated after Walgreens (WBA) revealed that it had sold a portion of its stake in the company.

Decliners

Disney (DIS) lost ground in pre-market trading following the release of its quarterly update. Despite strong streaming subscriber numbers, the entertainment giant announced headline financial figures that came in light of expectations.

DIS reported a Q2 profit that missed analysts’ consensus. The firm’s revenue number also came up short of projections, rising 23% to $19.2B. That total was $800M below the amount market experts were predicting.

Weighed down by the disappointing results, DIS dropped about 5% before the opening bell.

AmerisourceBergen (ABC) also endured selling pressure in pre-market action. Shares dropped 9% on news that Walgreens Boots Alliance (WBA) had sold a chunk of its holdings in the drug wholesale company at a discounted price.

WBA sold 6M shares of ABC, reducing its stake in the company to 25.2%. The shares were sold at $150 per share. ABC closed Wednesday’s session at $161.30.

gainers

Earning news prompted pre-market buying in shares of Six Flags (SIX). The amusement park operator reported a narrower-than-expected loss for Q1, with revenue jumping 68% from last year.

The better-than-projected results came amid higher ticket prices and promising consumer spending trends. SIX rallied 4% before the opening bell.

Street-beating results also bolstered Sonos (SONO). Shares climbed almost 9% in pre-market action after the audio equipment maker posted a Q2 profit that surpassed projections by more than 50%. Revenue rose 20% from last year to reach about $400M.

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