Earnings Snapshot: CrowdStrike (CRWD) beats Q4 estimates, but weak outlook weighs on stock. (00:23) TikTok (BDNCE) looks to expand local services in the US; buys shares from American workers at higher price. (01:12) Disney (DIS) to slash 6% jobs across ABC News, Disney Entertainment Networks as it focuses on core business - report. (02:33)Episode transcripts seekingalpha.com/wsb.Show links: Biggest stock movers Wednesday: CRWD, AVAV, and moreSEALSQ stock climbs as co reveals $93M sales pipeline, increasing adoption of quantum-resistant techTrump defends tariffs after markets close significantly downGoogle urges DOJ to avoid breaking up company - reportSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.
Full Episode
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Good morning. Today is Wednesday, March 5th. I'm Julie Morgan. CrowdStrike beats estimates but is still down in pre-market action. Disney is letting more workers go, but TikTok is hiring. CrowdStrike is down 9% in pre-market trading.
Shares fell despite beating Q4 estimates as its guidance disappointed investors. The company forecast Q1 fiscal year 26 revenue of $1.10 to $1.11 billion, aligning with the $1.10 billion estimate. But its adjusted EPS projection of $0.64 to $0.66 falls well below the $0.95 consensus.
For the full year, CrowdStrike expects revenue of $4.74 to $4.81 billion, with the midpoint slightly below the $4.78 billion forecast. While its adjusted EPS outlook of $3.33 to $3.45 lacks nearly 25% behind the $4.43 consensus. TikTok is reportedly eyeing an expansion of its local services business to the U.S.
Axios reported this on Tuesday, citing job postings and sources familiar with the company's plans. Last year, it began testing with local services in Southeast Asia, like Singapore and Indonesia. The program lets creators give vouchers for places like restaurants and hotels.
According to the jobs posted on its website, TikTok is currently hiring people based in Seattle, Los Angeles, and New York to evaluate opportunities to connect local merchants and vendors with TikTok creators and users. One listing shows that the immediate focus will be on top local services partners and travel to further accelerate service offerings on TikTok.
Other listings were to onboard lifestyle creators for food and travel to help drive local services adoption and monetization opportunities. In a separate report, sources told Reuters on Tuesday that TikTok's parent company ByteDance is offering to buy back shares from its U.S. employees at a higher valuation under a new repurchase program. ByteDance is offering $189.90 per share to its U.S.
employees, up 11% from a year ago and up $181 per share from six months ago. Disney is planning to reduce its total workforce by 6%, impacting almost 200 positions at ABC and Disney Entertainment Networks.
The Wall Street Journal reported, citing people with knowledge of the matter, that this move is part of a broader restructuring effort within the company, as it focuses on core businesses with more spending on sports and entertainment content. As for ABC News, Nightline and 2020 will be combined into a single unit.
Three hours of Good Morning America will now be overseen by a single individual, whereas the third hour previously had its own production team. ABC is also getting rid of FiveThirtyEight, a political data-driven news website with roughly 15 staff members. The Disney Entertainment Network's unit will also see staff reductions in program planning and scheduling.
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