Disney Shares Fall After Missing on Fiscal 3Q Revenue
Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, Disney earnings, oil prices and Choice Hotels.
Choppy trading on Tuesday forced stocks lower as Apple came under pressure, hitting a 6-month low. As markets hang in a wait-and-see position in advance of Friday's monthly jobs report, the Dow closed lower for a fourth straight day and the S&P 500 and Nasdaq closed in the negative for a third straight day.
Shares of Disney fell slightly after hours after beating on EPS but missing on revenue. The company saw overall revenue rise 5.1%, but saw revenue from sports network ESPN fall due to lower ratings.
Oil snapped a three-day losing streak after closing at its lowest level since March 19 on Monday. Oil prices climbed 1.26% Tuesday to settle at $45.74 per barrel. And it appears cheaper oil and gasoline is helping the hotel industry. Hotels in the U.S. are doing rockin' business; hotel occupancy soared last week to its best week on record.
Choice Hotels says business is bustling, and now that the Cuban frontier will soon open for tourists, Choice Hotels CEO Steve Joyce says he's ready to plan his company flag on Cuban soil.