This Week: Walt Disney, CVS results; weekly jobless claims
Walt Disney reports its third-quarter earnings on Tuesday. Disney’s stock jumped about 14 percent over the past two months as its multi-billion dollar battle with rival media titan Comcast over the bulk of Twenty-First Century Fox wound its way to a successful end. Wall Street forecasts Disney’s profit rose to $1.95 a share, up from $1.58 a year earlier.
Wall Street forecasts CVS Health’s profit rose to $1.61 a share in the second quarter, up from $1.33 a year ago. CVS shares sank 8 percent in late June after Amazon.com said it’s buying online pharmacy PillPack, which investors expected would squeeze drug prices for drugstores, pharmacy benefits managers and companies that distribute medications. CVS reports earnings on Wednesday.
Job market bellwether
The Labor Department reports Thursday its latest weekly tally of applications for unemployment aid.
Jobless aid applications dropped rose last week to a seasonally adjusted 218,000. The four-week average of applications, a less volatile measure, fell to 214,500. Applications are a proxy for layoffs. When fewer people seek benefits, it suggests that employers are keeping their workers.
Initial jobless benefit claims, weekly, seasonally adjusted:
June 29: 232,000
July 6: 215,000
July 13: 207,000
July 20: 217,000
July 27: 218,000
Aug. 4: (est.) 218,000