Straight from Benzinga newsdesk, host Michael O'Connor brings you the market news and stocks to watch.
Subscribe to our Stocks To Watch Newsletter here : https://go.benzinga.com/sales-page-187126583617110118712659
Today's Stocks: $USFD $DIS $BABA $ILMN $NWSA
Subscribe to our Stocks To Watch Newsletter here : https://go.benzinga.com/sales-page-187126583617110118712659
Today's Stocks: $USFD $DIS $BABA $ILMN $NWSA
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NewsTranscript
00:00 Good morning, Zinger Nation!
00:08 Welcome back to your daily stocks to watch.
00:11 Today is Thursday, August 10th, 2023.
00:13 I've got a little frog in my throat here, but other than that, things are going pretty
00:19 darn good.
00:21 We're now almost halfway.
00:22 Well, we're a third of the way through the month of August.
00:24 We're not quite almost halfway, but we're a third of the way through the month of August.
00:29 Hope everyone is having a great week so far.
00:32 Closing up pretty soon here.
00:33 Today's Thursday.
00:34 I will be out of office tomorrow, so we're not actually going to have a broadcast tomorrow.
00:39 This is the last stocks to watch of the week.
00:42 There will still be a list on the newsletter.
00:44 Keep your emails open for your still, your five hot off the Benzinga Pro Newsdesk ideas.
00:52 Just a little reminder, too, if you're listening in, if you watch us live and you're not subscribed
00:56 to the newsletter, check out the daily stocks to watch newsletter, too.
01:00 Super easy way to get five ideas every morning with some color commentary, some cool little
01:06 like techno features, too, that were added pretty recently.
01:10 We had a little like AI partnership thing.
01:13 We've got some cool AI generated deep dives into some of the names on the list that come
01:19 out as well.
01:20 So if you're getting tired of me talking about the stocks and you want a little AI take,
01:25 check out our newsletter.
01:26 I'm in the newsletter, too, but definitely a little little plug there for our stocks
01:31 to watch newsletter.
01:33 Always going to be popping out, even if I'm traveling or doing something or we're unable
01:38 to broadcast in a day.
01:39 We'll still have every day that newsletter.
01:41 We pop in ideas fresh to your inbox.
01:44 But let's dive into our list for today and get you out to your trading day.
01:50 It's nine twenty five.
01:51 Still a little time before market open.
01:52 Still got a little time to talk before things get hot.
01:56 But let's get to the list.
01:57 So stock to watch.
01:58 Number one, that's US Foods, ticker USFD.
02:04 Number two, we've got the Walt Disney Corporation with ticker D.I.S.
02:09 Number three is Alibaba Group.
02:11 That's ticker B.A.B.A.
02:13 Number four, we've got Illumina, ticker I.L.M.N.
02:17 And stock to watch number five is News Corporation.
02:20 That's ticker N.W.S.A.
02:23 This is a good list.
02:24 We've been earnings heavy recently because important names, big names have been releasing
02:28 their earnings.
02:29 Today is no exception.
02:31 Stock to watch number one is US Foods.
02:34 This is one of the big darn biggest.
02:37 I don't know if they're exactly the biggest.
02:39 Someone can fact check me there.
02:40 But they're one of the biggest US Foods company delivering and distributing frozen dry foods
02:48 and consumer packaged goods to customers and manufacturing sites.
02:53 They're one of the huge distributors, similar I think to ConAgra and a couple of the really
02:58 big giants, making sure that things don't spoil on the roadways of America and all over
03:06 the place.
03:07 But some interesting earnings today.
03:10 They actually beat by three cents on EPS, but Outlook wasn't the best.
03:16 They actually have started off over up one and a half percent pre-market and right now
03:22 are down about one percent pre-market.
03:25 So even with a little bit of an earnings beat here, nothing absolutely crazy going on, though
03:30 we're not seeing any huge downward movement or huge upward movement at US Foods.
03:34 A little up, a little down, but still pretty stable right around that forty one dollars
03:40 and ninety cent mark.
03:42 It's been fluctuating around there a good bit.
03:45 It's been down to forty one ninety, forty two, thirty six.
03:48 It's popping all over the place the last week, the last month.
03:51 A bit of a downward trend.
03:53 But if we look at the year to date, it is another one of those names that is up over
03:57 20 percent year to date, doing pretty good on the one year up over 28 percent.
04:03 So a stock that's been pretty consistent, pretty decent company in terms of its price
04:09 outlook.
04:11 Something to watch here, especially in the trucking industry, we've seen Yellow, one
04:17 of those huge trucking and distribution companies, not exactly as niche as US Foods.
04:23 US Foods is more niche distribution, trucking and last mile delivery and all those sorts
04:28 of things.
04:29 But a bit of a shakeup with the Yellow's bankruptcy.
04:32 I think that's important to watch if you're in the distribution, the transportation, the
04:37 logistics industry at all.
04:38 If you're invested in any of these companies, something to watch as we see earnings coming
04:43 out of distributors and other players, other competitors to companies like Yellow to see
04:49 if there's going to be any kind of contagion, any kind of decrease in expectations or increase
04:55 for competitors of companies like Yellow.
04:59 Stock to watch number two is the Mouse House.
05:03 That's Disney, ticker DIS, reporting better than expected earnings for third quarter,
05:09 but missing sales expectations, but doing a pretty decent pre-market up over 2.6 percent.
05:16 That's a pretty big move for Disney.
05:18 Disney is a very large market cap, almost 160 billion dollars.
05:23 So an upward move like that, pretty darn good.
05:27 Some color here, Disney may be near a turning point with some quotes from Bob Iger, some
05:35 things like that.
05:36 This is an earnings call worth replaying, I would say, just listening to Bob Iger talk
05:42 and talk about we've seen a lot of different color on Disney on whether or not the last
05:48 couple of quarters, especially whether or not Parks and Resorts is going to be rebounding,
05:53 doing better, doing worse, streaming, what's going on.
05:57 We saw significant losses in streaming, but seems to be doing OK.
06:02 Pulled back from the lower EPSs that we've seen, especially Q4 2022, pulling back pretty
06:11 stable around the Q1 and Q2 EPS, but pretty darn good.
06:15 A dollar three cents per share, beating expectations by six cents per share.
06:21 Nothing too crazy, but nothing too bad for Disney and 100 percent a stock to be watching
06:27 if you are in the consumer, the leisure sector.
06:30 If you're looking at these, listen in on the earnings calls for companies like this.
06:36 Don't hesitate to gain insight if you've got some time, even if you're not directly invested
06:41 in a company like Disney, listening in on the earnings call, always a valuable play.
06:46 And just a little update here, now up over three and a half percent pre-market, seeing
06:51 a bit of a big move here.
06:52 We'll have to watch and see if it continues moving in this morning.
06:57 Stock to watch number three is Alibaba.
06:59 That's ticker B-A-B-A, BABA, what a great ticker.
07:03 This is one that we haven't talked about Alibaba in a while.
07:07 It feels like it's been forever since we've talked about some of these Chinese stocks.
07:12 I know that we talked about I think the Chinese car manufacturers and then like the Chinese
07:19 American listed education companies as some of these companies that have crazy movements.
07:24 We haven't talked about the giant, the primary ticker for many traders for China, which is
07:30 Alibaba.
07:31 And pretty solid earnings coming out today, beating expectations by 38 cents per share.
07:37 Expects were at about two dollars and two cents per share, an actual report of two dollars
07:41 and 40 cents per share.
07:44 Earnings call is still live.
07:46 Hop in if you're an investor and you're not on the earnings call.
07:50 Definitely always valuable, incredibly valuable stock to be watching to gain insights into
07:56 the consumer market in China.
07:57 We've seen kind of a lot of headwinds for China recently.
08:01 It seemed that consumer spending was decreasing, even the economy dipping towards deflation.
08:07 Some interesting stuff going on right now in China.
08:10 If you are in the international markets, 100 percent a stock to watch, especially considering
08:16 all the different things going on in China right now.
08:20 Stock to watch number four, we've got Illumina.
08:23 I think I'm saying that right.
08:25 Illumina reporting better than expected results for the second quarter, but lowering annual
08:30 profit outlook.
08:31 Shares fell almost 6 percent yesterday and after hours trading and not doing great today,
08:38 down almost 5 percent today, making it a bit of a bit of a loser on the month and the three
08:45 months near to date as well.
08:47 Not a terribly great situation for Illumina right now.
08:51 But again, it was a pretty pretty solid beat on earnings.
08:56 Estimates were at about two cents per share and actual EPS was 32 cents per share.
09:01 It's kind of finally coming out of a trough of earnings as dipping down from Q1 through
09:07 Q1, really the full year of downward earnings.
09:11 And then we're actually heading back up for Illumina, which could be a good sign for this
09:16 company in the long term.
09:17 But again, difficult when profit is being cut, when the outlook is being slashed.
09:25 Not terribly great situation, but one to watch for sure, especially in the life sciences
09:32 and manufacturing and medical tools category.
09:36 Stock to watch number five.
09:38 Last one, we've got News Corporation.
09:41 That is take your NWS, NWSA to report quarterly earnings expectations at about nine cents
09:47 per share on revenue of just almost two and a half billion dollars after the closing bell
09:52 today, News Corp shares were fluctuating around a little bit yesterday morning, but up over
09:58 five percent on the week.
10:00 Pretty decent year to date, 13 percent after a big trough back in March.
10:06 It's risen back up from that.
10:08 An interesting company.
10:09 This is the company that owns Dow Jones, a bunch of different, let's see, what are they
10:15 called?
10:16 Digital real estate services, subscription video services, Dow Jones, book publishing,
10:20 news media and others.
10:22 You got a bunch of different stuff, including News Corp Australia, News UK, the New York
10:28 Post, a bunch of different constituents.
10:32 News Corp is one of the big names in news other than Benzing.
10:35 I mean, come on, we're the big name in financial news, but News Corp is one of the big ones.
10:42 We don't we're not publicly listed, so Benzing does not have a ticker.
10:44 But if you're interested in exposure to news, News Corp is one to watch, especially earnings
10:51 call coming up today after hours.
10:54 I think this is a really interesting way.
10:56 If you've never looked into media investing, if you've never looked into news investing,
11:01 a good one to watch because they're often interesting, even if you're not directly in
11:07 the industry, to gain some insights on what's going on in the industry.
11:11 We've seen shifts from newspapers to digital over the last few decades as seismic shifts.
11:18 Nowadays, a lot of people talking about shifts from actual writers to AI as a danger for
11:24 the entire news industry, a danger for a lot of the legacy players.
11:29 I would I don't know, I might bet that News Corp would be talking a little bit at least
11:34 about AI, about how it might affect them going forward, how they might be using AIs to write
11:41 news to cover things, because it's just they can write really darn fast.
11:46 They can write incredibly fast content.
11:48 And a lot of news has been affected by it already.
11:51 I would recommend tuning into News Corporation's earnings call, even if you're not an investor,
11:56 even if you're not in the news sector, check them out.
11:59 It could be some good insights into how a unique industry is approaching AI and the
12:05 next generation of technology.
12:07 All right, we're going to go back over our list and get you out to your trading day.
12:12 Stock to watch number one was US Foods.
12:15 That's ticker USFD.
12:18 Number two was Walt Disney Corporation.
12:20 That's ticker DIS.
12:22 Stock to watch number three was Alibaba.
12:24 That's ticker BABA.
12:26 Number four, we had Illumina, ticker ILMN.
12:30 And stock to watch number five was News Corporation.
12:33 That's ticker NWSA or NWS.
12:37 Hope everyone has a fantastic trading day, a fantastic close out to your week.
12:42 Like I said, the newsletter will be out tomorrow, but I will be catching you on Monday.
12:47 So hope everyone has a wonderful weekend and looking forward to catching you then.
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