Stocks are higher across the board today, but don't tell Walt Disney Co (NYSE:DIS) and Palantir Technologies Inc (NYSE:PLTR). The blue-chip and software stock are down 10% and 14.7%, respectively, after each company reported lackluster first-quarter earnings this morning.
DIS was last seen trading at $105.07, on track for its worst single-session drop since November 2022. While the entertainment giant reported fiscal second-quarter earnings and a fiscal-year guidance that topped expectations, the stock is sharply lower after revenue fell short of estimates. Disney also expects a loss within its direct-to-consumer entertainment business this quarter.
The shares are testing their 100-day trendline today, a moving average that now coincides with the site of its post-earnings bear gap from early February.
At last check, over 330,000 calls have changed hands, volume that's 11 times the average intraday amount and nearly double the number of puts traded. The June 115 call is the most popular, with buy-to-open activity detected.
Palantir stock is trading at $21.57 at last check, on track for its worst single-session drop since May 2022. First-quarter earnings and revenue exceeded analyst expectations, but Palantir stock is taking a hit because the company's full-year guidance missed estimates. Despite the bear gap, the shares are up still up 25% in 2024 and are finding support at their 100-day moving average.
Already today, 655,000 calls have been traded, compared to 325,000 puts. Weeklies are popular, with the 5/10 22-strike call and 21-strike put the most popular.
Before you make your next trade, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.
Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.
They believe these five stocks are the five best companies for investors to buy now...
See The Five Stocks Here
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by clicking the link below.
Get This Free Report
