Market Preview: Buckle Up
As for the coming financials, Goldman Sachs reiterated its buy rating on the stock this week and lifted earnings estimates for fiscal 2013 and 2014 by 1% ahead of the fourth-quarter report. The firm said it expects Disney to "show improved growth from new theme park assets, new ESPN affiliate fee deals, and higher consumer products from 'Avengers'" in coming quarters.
The majority of the sell side is positive ahead of the print with 18 of the 30 analysts covering Disney at either strong buy (6) or buy (12) and the median 12-month price target sitting at $56, implying potential upside of 12% from current levels.
Check out TheStreet's quote page for Disney for year-to-date share performance, analyst ratings, earnings estimates and much more.
Another stock to watch after Thursday's close will be Groupon(GRPN) . Wall Street is looking for a profit of 3 cents a share from the online deals company in its third quarter with revenue projected at $590.1 million.
Companies slated to report early Thursday include Advance Auto Parts (AAP) , Apollo Investment Group (AINV) , Dean Foods (DF) , FirstEnergy(FE) , Flowers Foods (FLO) , Kohl's Corp. (KSS) , Lifetime Brands (LCUT) , Monster Worldwide (MWW) , Petrohawk Energy (HK) , Scotts Miracle-Gro (SMG) , Tim Hortons (THI) , and Wendy's International (WEN) .
The late roster features Allscripts Healthcare (MDRX) , American Apparel (APP) , Career Education Corp. (CECO) , Caribou Coffee (CBOU) , Kayak Software (KYAK) , Lions Gate Entertainment (LGF) , Microchip Technology (MCHP) , Nordstrom(JWN) , NVIDIA(NVDA) , and Zipcar(ZIP) .
Thursday's economic calendar includes weekly initial and continuing jobless claims at 8:30 a.m. ET; and the trade balance data for September, also at 8:30 a.m. ET.
Shares of Activision were rising more than 2% after the gaming company topped Wall Street's profit view on the strength of its latest "World of Warcraft" release, "The Mists of Pandaria" and its "Skylanders" franchise. Excluding items, Activision earned 11 cents a share on revenue of $751 million, ahead of the consensus estimate of 8 cents a share on revenue of $709.8 million.
Whole Foods Markets, meantime, reported an in-line profit for its fiscal fourth quarter but also announced a 40%-boost to its quarterly dividend to 20 cents per share. The stock slipped 2% to $94.07 in late trades.
Shares of Monster Beverage were losing more than 12% on heavy volume after the embattled energy drink maker missed on both the top and bottom lines in its latest quarter. The company earned 47 cents a share in the September-ended period on revenue of $541.9 million, below analyst expectations for a profit of 55 cents a share on revenue of $578.5 million.