Yahoo Finance Stocks drop on escalating trade war with China
Stocks end week on a down note as Trump levies tariffs on China, and China fires back. Plus, the media wars heating up. Will Disney respond and outgun Comcast? And, Apple and Oprah, a deal made in content heaven? We break it down. Plus – media critic Ken Auletta is here to talk his new book Frenemies: The Epic Disruption of the Ad Business (And Everything Else). Catch the Final Round at 3:55pm ET with Myles Udland, Yahoo Finance’s Andy Serwer and Julia La Roche.
Winners and losers
Stocks in the red include Jabil Circuit despite an earnings beat as JPMorgan lowered its price target on the chipmaker due to weaker-than-expected cash flow, Genco Shipping & Trading Limited as the dry bulk shipper announced a future public offering to fund vessel acquisitions, and Adobe – shares dropping despite an earnings beat as recurring revenue was only in-line with estimates, with Stifel noting current quarter guidance may not have been as ‘aggressive’ as investors would have liked.
Stocks in the green include Canada Goose as the maker of luxury parkas and winter wear, reported a surprise fiscal fourth-quarter profit with sales topping estimates, Glu Mobile as Piper Jaffray initiates coverage of the mobile gamemaker with an overweight rating and $7.50 price target, and Discovery Inc. share higher as the parent of Discovery Channel and Animal planet now sees savings of around $600 million from the integration of its Procurement and Finance units, stemming from its merger with Scipps Networks
