Snap Continues Sliding; Disney and AMD Sink | Stock Movers

On this episode of Stock Movers:

- Snap (SNAP) shares are continuing their slide after the company reported a slowdown in advertising revenue growth due to a technical issue with its ad-buying tools. The company's ad revenue growth rate slowed to 3% to 4% from 9% in the first quarter, and revenue in the June quarter was affected by an update that allowed marketers to buy ads at reduced prices. Snap forecast overall sales in the current period that will likely be higher than analysts projected, and reported growth in its subscription business, with Snapchat+ reaching almost 16 million paying subscribers.

- Disney (DIS) shares are lower despite an earnings beat. Disney raised its adjusted earnings per share guidance for the full year to $5.85 from $5.75 beating the average analyst estimate. The California-based entertainment giant also boosted its experiences operating income growth for fiscal 2025, a segment that includes the company’s cruises and theme parks offerings. However, revenue from conventional TV networks and sports programming fell short of Wall Street’s expectations.

- Advanced Micro Devices (AMD) shares are lower after the company was unable to give a clear outlook for resuming sales in China. Chief Executive Officer Lisa Su said "As our licenses are still under review, we are not including any MI308 revenue in our third-quarter guidance" on a conference call with analysts.

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Snap Continues Sliding; Disney and AMD Sink