Information provided by Theflyonthewall.com
Two of the biggest names in television and entertainment reported results Tuesday night and their stocks moved in opposite directions this morning. Disney's
) earnings excluding certain items beat forecasts. However, its revenues missed expectations and the company said it expects to record a fourth-quarter loss of $160M to $190M on its failed "Lone Ranger" film, sending its shares down about 2% at midday.
Twenty-First Century Fox
), which recently separated from News Corporation
), rose almost 2% in spite of adjusted earnings falling short of expectations, as its revenue beat consensus.
A federal appeals court revived Apple's
) patent claim against Google's
) Motorola unit, sending the case back to the ITC for further proceedings.
Among the notable gainers was Time Warner
), which gained 2% after its quarterly results beat expectations and the company raised its full year adjusted earnings growth forecast.
Also higher were shares of AOL
), which rose nearly 2% after its quarterly results also beat analysts' consensus and the company agreed to buy Adap.tv, a programmatic video advertising platform, for $405M in cash and stock.
Among the noteworthy losers after its quarterly report was Ralph Lauren
), which slid more than 6%. Also falling about 6% was Tesla Motors
), ahead of its second-quarter report, due Wednesday night. A report also circulated that the electric carmaker may face trademark challenges as it tries to enter the Chinese market.