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Walt Disney Co, Scholastic Corp, 21st Century Fox and more - PRE-MARKET

Last updated: 08:00 14 Dec 2017 EST, First published: 03:00 14 Dec 2017 EST

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Costco was projected to post quarterly earnings of US$1.34 per share on revenues of US$31.38 billion.

US futures are pointing higher on Thursday as the Fed hiked interest rates, as expected, yesterday.

It raised rates by 25 percentage points but failed, said commentators, to give a fresh insight into its views on inflation.

To company matters, and in focus in pre-market trade on Thursday is a much talked about media deal, now finally struck.

Walt Disney Co  (NYSE:DIS) shares dropped 1.5% to US$106 after hours as it emerged it was buying a huge chunk of 21st Century Fox (NASDAQ:FOX) in a mega deal, which promised to reshape the landscape and help it fend off digital rivals such as Netflix.

The US$52.4bn all-stock deal will combine two of the biggest players in Hollywood. Shares prices will likely be in focus today. Twenty First Century shares fell 3.21% to US$31.70 after hours.

 

Also in play in pre-market is Scholastic Corp (NASDAQ:SCHL), which added 0.07% after hours. It is expected to report quarterly earnings of US$1.75 per share on revenues of US$601.40mln before the opening bell.

After the markets closed, Costco Wholesale Corporation (NASDAQ:COST) shares nudged 0.02% lower at US$188.25. It is projected to post quarterly earnings of US$1.34 per share on revenues of US$31.38bn.

Tintri Inc (NASDAQ:TNTR) shares shed almost 18% to US$4.50 as it reported in-line earnings for the third quarter, while sales fell short of estimates.

The company also issued issued weak fourth quarter sales guidance.

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