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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)
This is an abridged transcript.
CrowdStrike (NASDAQ:CRWD) -9% premarket.
Shares fell despite beating Q4 estimates, as its guidance disappointed investors. The company forecasts Q1 FY26 revenue of $1.10B–$1.11B, aligning with the $1.10B estimate, but its adjusted EPS projection of $0.64–$0.66 falls well below the $0.95 consensus. For the full year, CrowdStrike expects revenue of $4.74B–$4.81B, with a midpoint slightly below the $4.78B forecast, while its adjusted EPS outlook of $3.33–$3.45 lags nearly 25% behind the $4.43 consensus.
TikTok (BDNCE) is reportedly eyeing an expansion of its local services business to the U.S.
The 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 users vouchers for restaurants, hotels, etc.
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.
“The immediate focus will be on top local services partners in travel to further accelerate service offerings on TikTok,” one listing shows. 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 from $181/share from six months ago.
Disney is planning to reduce its total workforce by ~6%, impacting almost 200 positions at ABC News Group and Disney Entertainment Networks.
The Wall Street Journal reported, citing people with knowledge of the matter that this move is part of broader restructuring efforts within the company, as it focuses on core businesses with more spending on sports and entertainment content, the report said.
Key changes for ABC News: programs “20/20” and “Nightline” 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 getting rid of 538, a political and data-driven news website with roughly 15 staff members.
The Disney Entertainment Networks unit will see staff reductions in program planning and scheduling.
These layoffs are being announced to employees starting as early as today.
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Catalyst watch:
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Notable investor events include Logitech’s (LOGI) Analyst & Investor Day, Waters Corporation’s (WAT) Investor Day, and Envista Holdings’ (NVST) Corp. Capital Markets Day.
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Meta (META) Chief Product Officer Chris Cox will participate at the Morgan Stanley Technology, Media & Telecom Conference.
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Shopify (SHOP) will participate in a fireside chat at the Morgan Stanley Technology, Media & Telecom Conference.
Now let’s take a look at the markets ahead of the opening bell. Dow, S&P and Nasdaq futures are in the green. Crude oil is down 1.7% at $67/barrel. Bitcoin is up 7.1% at $89,000.
In the world markets, the FTSE 100 is up 0.6% and the DAX is up 3.4%.
The biggest movers for the day premarket: AeroVironment (NASDAQ:AVAV) -19% – Shares plunged as FQ3 results missed expectations, with revenue falling 10% Y/Y. Management attributed the shortfall to operational disruptions caused by wildfires and high winds in Southern California.
On today’s economic calendar:
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