The Walt Disney Company (NYSE:DIS) is being sued by Hollywood financer TSG Entertainment for allegedly withholding millions of dollars worth of film profits.
The suit, filed Tuesday in Los Angeles Superior Court, accuses Disney and 20th Century Fox of breaching contract by withholding as much as $40 million in profits and signing side agreements to boost its own streaming platform and share price, according to reports.
The firm has co-financed about 140 20th Century Fox films, including 'Avatar: The Way of Water', investing $3.3 billion since 2012.
Meanwhile, shares of the Mediterranean restaurant chain Cava jumped nearly 8% in extended trading after the company reported its first quarterly profit since going public in June.
Cava posited second-quarter net income of $6.5 million, $0.21 per share, compared to a net loss of $8.2 million, $6.23 per share, a year earlier. Revenue came in at $172.9 million.
Analysts had called for a loss of $0.02 per share and revenue of $163.21 million.
T2 Biosystems (NASDAQ:TTOO) stock added another 15% in Tuesday’s afterhours exchanges, adding to the day’s 51% gain during ordinary trading hours, changing hands at US$0.68 per share.
The company, which develops in vitro diagnostics tools, has now soared some 490% in the past month as ‘meme-like’ trading buzz has gripped the stock. It comes as the company’s investors evidently push to bring the share price above Nasdaq’s minimum $1 threshold after the company was given an extension by the exchange to do so.
Agilent Technologies (NYSE:A) Inc stock fell 2.3% after the company announced that its third-quarter 2023 revenue slipped 2.7% year over year to $1.67 billion, even as it edged past the consensus estimate of $1.66 billion.
Crucially, Agilent projects full-year 2023 revenue in the range of $6.80 billion to $6.85 billion, which falls short of the $6.97 billion analyst consensus.
Jack Henry & Associates Inc shares dipped more than 6% despite posting fourth-quarter net income of $97.8 million, $1.34 per share, topping projections of $1.19 per share.
Revenue was $534.6 million in the period, also beating Street forecasts of $511.3 million.
However, its operating margin guidance of 22.1% to 22.2% seemed to leave something to be desired after the company posted a 23% in fiscal 2023.
Stride shares added more than 7% after the education technology company reported fourth-quarter and full-year fiscal 2023 results that topped Street estimates.
For the quarter, which ended June 30, 2023, the company posted earnings per share of $1.01, compared to $0.66 in the year-ago quarter and ahead of the consensus expectation per Zacks Consensus Estimate of $0.86.
Revenue rose year-over-year from $455.2 million to $485.5 million, above expectations of $465 million.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
Follow him on Twitter @andrew_kessel