Earnings Push Uber Higher; Disney Lower on Beat; AMD and SMCI Dive

- Uber (UBER) shares are higher on an earnings beat and after it announced $20 billion in new stock buybacks after sharing a better-than-expected third-quarter forecast and quarterly results. Gross bookings will range from $48.25 billion to $49.75 billion for the three months ending September, according to Uber. Adjusted earnings before interest, taxes, depreciation and amortization for the second-quarter were a record $2.12 billion, ahead of the $2.09 billion that analysts had forecast.-

- 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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