Trending tickers: Disney, GameStop, Flutter and Ocado

BRAZIL - 2024/02/12: In this photo illustration, the Walt Disney Company logo is displayed on a smartphone screen. (Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)
The Walt Disney Company stock has been upgraded by Barclays. (SOPA Images via Getty Images)

Disney (DIS)

The Walt Disney Company was higher in after-hours trading after Barclays upgraded the media and entertainment giant.

Barclays analyst Kannan Venkateshwar upgraded the stock to overweight from equal weight and boosted his price target on shares to $135 (£107) from the prior $95. The move implies roughly 15% upside based on current trading levels of about $120 a share.

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"The incessant Disney-related news flow ahead of the proxy vote has dominated investor considerations since last quarter's earnings, and we expect this to continue helping the stock near term," said Barclays.

Overall, while Barclays is now bullish on the stock, they acknowledged that Disney still has a number of challenges to work through and that visibility on many elements is still low.

GameStop (GME)

Shares in GameStop were trending in premarket trading ahead of the video game retailer and original meme stock quarterly earnings report.

The company had its best day in more than three months Monday, climbing over 15%. That is its largest daily percentage increase since December 2023, when it gained 9.7%.

However, the company has erased most of the gains it made during the meme stock investing era in 2021 as it crashed by 90%.

Analysts surveyed by FactSet expect GameStop to report fourth-quarter earnings of $0.30 a share and revenue of $2.05bn, down 10.1% year-over-year.

“GameStop will benefit from industry trends during the quarter, but continued losses in market share and a mix shift towards digital likely led to underperformance in the quarter,” analysts at Wedbush said.

The video game retailer turned meme stock will report its results for fiscal Q4 after the US stock market closes today, March 26.

Flutter (FLTR.L)

PaddyPower owner Flutter revealed a sharp increase in revenues and its number of players as it expanded heavily in the US.

The world's largest online betting company said it expects to increase its core profit by around 30% this year.

The gambling giant’s average monthly players surged 20% to 12.3 million, helping revenues leap by nearly a quarter to $11.8bn (£9.3bn).

Year-to-date revenue was up 3% in its international division and 17% in the UK and Ireland, where its market share rose to 30% last year.

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However, net losses widened to $1.21bn from $370m in the previous year.

Its FanDuel brand has become the leader for so-called iGaming in the US, where revenues increased 40.7%.

Flutter expects US core profit of $635-$785m compared to last year's $167m.

Ocado (OCDO.L)

Ocado Retail, the troubled grocery delivery partnership with Marks & Spencer, has revealed increasing sales thanks to an uptick in customer numbers

The online grocer on Tuesday said retail revenue for the 13 weeks ended 3 March rose 10.6% to £645.3m from £583.7m a year earlier.

Average weekly orders rose 8.4% while the average basket value rose 2.1% to £125.47 and the average basket size remained flat at 45 items.

The retailer also reported a 6.4% increase in active customers, reaching 1.02 million by the end of the quarter.

In its trading update, the group said price inflation eased back to 2.2% in the three months, which it said was “significantly” lower than the wider market.

“This has translated to improvements in customer value perception,” according to Ocado.

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