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Walt Disney Co, Netflix, Pricelink Group, TripAdvisor - AFTER HOURS

We take a look at the movers and shakers after hours in New York

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Disney said it will start its own streaming service

Shares in movie and entertainment behemoth Walt Disney Co (NYSE:DIS) fell 4% after hours in New York as the group reported quarterly results, in which revenue missed expectations.

The firm reported revenue of US$14.2bn in the three months to end June, little changed from last year, with theme park revenue keeping that number steady. But profits were about US$2.37bn, which was down around 9% compared to last year.

Notably, the firm is ditching its distribution deal with streamer Netflix (NASDAQ:NFLX), which shed 3.68% after hours, and going to start its own online streaming services in the US for movies, shows and sports.

 

Elsewhere, after the bell, car rental giant Hertz (NYSE:HTZ) jumped 4% and then eased back to be 0.60% higher as it posted an 'in-line' revenue for the quarter.

Contrast that with Avis  Budget Group (NASDAQ:CAR), which yesterday posted numbers, which missed EPS (earnings per share) and sales forecasts. Shares shed almost 10% to US$30.09 on the day Tuesday.

Fashion and watch group Fossil Group Inc (NASDAQ:FOSL) saw shares tank almost 23% after hours as it posted  a wider-than-expected loss per share and revenue that missed the Street's forecasts.

Fossil unveiled a second-quarter loss of US$344.7mln, or US$7.11 a share, from a profit of US$6mln , or 12 cents a share, a year earlier, while its finance chief is also leaving

Also heading south in after hours trade  was Pricelink Group Inc (NASDAQ:PCLN). The online fare aggregator firm shed 7.13% to US$2,049, as it reported weak guidance for its third quarter.

The sell-off also prompted another provider of discounted travel Tripadvisor (NASDAQ:TRIP) to see its shares fall - plunging 7.51% to US$39.55 after hours.

Quick facts: Netflix

Price: 429.32 USD

NASDAQ:NFLX
Market: NASDAQ
Market Cap: $188.82 billion
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