Let's start with the good news on yet another down day for the
markets. Up-and-coming movie production company
Lions Gate Entertainment
- which produced the smash-hit "Hunger Games" film in the spring
- exceeded third-quarter earnings expectations to push shares up
6% in after hours.
Most of the day's other news was bad - including several
earnings reports that were far weaker than Lions Gate's.
Stocks slipped again today after yesterday's post-election
sell-off. The S&P 500 was down 1.2%, while the Nasdaq
declined 1.4%. The Dow shed another 121 points to bring its
two-day losses to more than 400 points.
Several big-name companies struggled amid less-than-stellar
earnings reports. Here is how a couple of them fared:
The online daily deals company broke even in its third-quarter
earnings, though its revenue fell short of expectations. That
was enough to send the stock plummeting a whopping 16% in after
hours on a day when the stock actually gained more than 4%
during the trading day. At $3.30 a share, Groupon is now
trading at a new all-time low and less than a fifth of its $20
IPO price last November.
Better times may be ahead after the company's LucasFilm
purchase. But Disney didn't have its best quarter. Earnings
matched analyst expectations as net income rose a healthy 14%
from a year earlier. But revenue fell short of analyst
estimates, even as it grew 3.2% from the same quarter a year
ago. The revenue miss has pushed Disney shares down 2% in after