Stock Market Futures Rally; Walt Disney, Salesforce.com, Momo Are In Focus
Stock market futures rallied Sunday night, with Dow Jones futures, S&P 500 futures and Nasdaq futures above fair value. U.S. stock markets are closed Monday for the Memorial Day holiday, but investors should pay attention to Walt Disney (DIS), Salesforce.com (CRM) and Momo (MOMO).
Stock Market Futures
Dow Jones futures rose 0.3% vs. fair value. S&P 500 futures climbed 0.3%. Nasdaq 100 futures were up 0.5%.
Walt Disney’s “Solo,” a standalone Star Wars origin story for Han Solo, is having a disappointing box office debut.
Solo is on track for $ 83.3 million over Friday-Sunday, with some question as to whether it will hit $ 100 million in domestic box office including Memorial Day showings. Dow Jones component Disney had expected $ 130 million to $ 150 million over four days.
A disappointing “Solo” raises broader concerns about Disney’s Star Wars plans. While “Force Awakens” and “The Last Jedi” were mammoth hits, “Solo” suggests that there may be Star Wars fatigue setting in. But Disney plans several more Star Wars films, as well as multiple shows for its upcoming streaming service due next year, a rival to streaming giant Netflix (NFLX). Marvel and Star Wars movies will no longer stream on Netflix starting in 2019.
Netflix’s market cap eclipsed the valuations of Comcast (CMCSA) and, slightly, Disney last week, in the latest new media milestone.
The cloud-based business software pioneer reports earnings late Tuesday. Analysts expect Salesforce to report a 23% revenue gain to $ 2.94 billion with earnings soaring 64% to 46 cents a share.
Salesforce.com stock has retreated below a 128.97 buy point in a flat base.
The Chinese social networking platform, including dating sites, reports early Tuesday. Momo revenue should soar 52% to $ 402 million. Earnings should rise 18% to 52 cents a share. Momo stock is near a 40.55 buy point.
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