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Fox Corporation ($FOXA) Stock Forecast: Down 6.6% Today

Morpher AI identified a bearish signal. The stock price may continue to fall based on the momentum of the negative news.

What is Fox Corporation?

FOXA is a stock of Fox Corporation, a media and entertainment company. The overall market sentiment for FOXA today was bearish.

Why is Fox Corporation going down?

FOXA stock is down 6.6% on Feb 8, 2024 12:01

  • FuboTV shares experienced a massive dip of over 22% following the recent announcement regarding the collaboration between Fox Corporation, Walt Disney Company, and Warner Bros. Discovery. This news might have had a negative impact on FOXA's stock.
  • Disney's disappointing top-line and subscriber growth also had an effect on the market sentiment, which could have contributed to the bearish movement of FOXA.
  • The mixed Q2 results and the launch of a sports platform by Fox Corporation might have influenced the market sentiment negatively, leading to the bearish movement of FOXA.
  • The overall market trend, as seen in the S&P 500 nearing 5,000 points, might have also influenced the bearish movement of FOXA.

FOXA Price Chart

FOXA News

What's Going On With FuboTV Shares Today? - FuboTV ( NYSE:FUBO )

FuboTV Inc. FUBO shares are trading slightly higher in the premarket session on Thursday, ending yesterday's run with a massive dip of over 22% following the recent announcement regarding the collaboration between Fox Corporation FOX, Walt Disney Company DIS, and Warner Bros. Discovery, Inc. WBD.

https://www.benzinga.com/markets/equities/24/02/37002549/whats-going-on-with-fubotv-shares-today

News Article Image What's Going On With FuboTV Shares Today? - FuboTV  ( NYSE:FUBO )

Decoding Fox Corp (FOXA): A Strategic SWOT Insight

Decoding Fox Corp (FOXA): A Strategic SWOT Insight

https://www.gurufocus.com/news/2209943/decoding-fox-corp-foxa-a-strategic-swot-insight

News Article Image Decoding Fox Corp (FOXA): A Strategic SWOT Insight

Disney Shares Soar Despite Top-Line & Subscriber Growth Disappointment

Disney Shares Soar Despite Top-Line & Subscriber Growth Disappointment Disney disappointed top-line with $23.5 billion in revenue for the December quarter, flat from the year-ago quarter but below the $23.8 billion consensus. *DISNEY 1Q SPORTS REV. $4.84B, EST. $4.62B *DISNEY 1Q ENTERTAINMENT REV. $9.98B, EST. $10.52B *DISNEY 1Q EXPERIENCES REV. $9.13B, EST. $9.04B Subscribers also disappointed. The number of domestic Disney+ subscribers fell to 46.1 million, likely the result of price increases, but the service lost fewer subscribers than Wall Street analysts had predicted. However, global subscribers to Disney+ (including its Hotstar service in India) also dropped to 149.6 million, from 150.2 million a year earlier (well below the 151.2 million expected). "We continue to expect to reach profitability at our combined streaming businesses in the fourth quarter of fiscal 2024, and are making tremendous progress in this area" Does the trend in these charts look like they''re about to hockey-stick?

https://www.zerohedge.com/markets/disney-shares-soar-despite-top-line-subscriber-growth-disappointment

News Article Image Disney Shares Soar Despite Top-Line & Subscriber Growth Disappointment

S&P 500 nears 5,000 point at close on earnings rollout

Stock exchanges on Wall Street wrapped up with gains on Wednesday as investors digested the latest influx of corporate earnings, among which were CVS Health Corporation, Uber, and Fox Corporation. Th…

https://breakingthenews.net/Article/SandP-500-nears-5000-point-at-close-on-earnings-rollout/61411754

News Article Image S&P 500 nears 5,000 point at close on earnings rollout

Earnings call: Fox Corporation reports mixed Q2 results, launches sports platform

https://www.investing.com/news/stock-market-news/earnings-call-fox-corporation-reports-mixed-q2-results-launches-sports-platform-93CH-3296101

https://www.investing.com/news/stock-market-news/earnings-call-fox-corporation-reports-mixed-q2-results-launches-sports-platform-93CH-3296101

News Article Image Earnings call: Fox Corporation reports mixed Q2 results, launches sports platform

Fox Corporation Price History

08.01.2024 - FOXA Stock was down 6.6%

  • FuboTV shares experienced a massive dip of over 22% following the recent announcement regarding the collaboration between Fox Corporation, Walt Disney Company, and Warner Bros. Discovery. This news might have had a negative impact on FOXA's stock.
  • Disney's disappointing top-line and subscriber growth also had an effect on the market sentiment, which could have contributed to the bearish movement of FOXA.
  • The mixed Q2 results and the launch of a sports platform by Fox Corporation might have influenced the market sentiment negatively, leading to the bearish movement of FOXA.
  • The overall market trend, as seen in the S&P 500 nearing 5,000 points, might have also influenced the bearish movement of FOXA.

08.01.2024 - FOXA Stock was down 6.6%

  • Fox Corporation's stock experienced a bearish movement today.
  • The bearish movement could be attributed to the announcement of a new major sports streaming service by ESPN, Fox, and Warner Bros. Discovery. This collaboration poses a threat to FuboTV, a competitor known for its sport-focused livestreaming, and could impact Fox Corporation's streaming offerings.
  • The disappointing top-line and subscriber growth reported by Disney may have also contributed to the bearish movement, as Fox Corporation operates in the same industry and may be affected by overall market sentiment towards media companies.
  • The mixed Q2 results reported by Fox Corporation and the launch of their sports platform could have influenced investor sentiment and contributed to the bearish movement.

08.01.2024 - FOXA Stock was down 6.6%

  • Fox Corporation's stock experienced a strong bearish movement today.
  • The bearish movement could be attributed to the announcement of a new sports streaming platform by ESPN, Fox, and Warner Bros. Discovery. This joint venture poses a threat to FuboTV, one of Fox Corporation's competitors in the sports streaming space.
  • The new streaming platform is expected to include offerings from at least 15 networks and all four major professional sports leagues, potentially replicating much of what FuboTV has to offer.
  • The market may be reacting negatively to the potential impact of this new competition on Fox Corporation's sports streaming business.

07.01.2024 - FOXA Stock was down 6.6%

  • Fox Corporation reported mixed Q2 results and launched a sports platform, which could have had a positive impact on the stock. However, the bearish movement suggests that other factors outweighed these developments.
  • FuboTV, a competitor of Fox Corporation, experienced a significant drop in its stock price after ESPN, Fox, and Warner Bros. Discovery announced a new major sports streaming service. This could have negatively affected Fox Corporation's stock as well, given its involvement in the sports industry.
  • The decline in ad revenue, particularly due to the absence of the FIFA Men's World Cup and lower political advertising revenues, could have contributed to the bearish movement in Fox Corporation's stock.
  • Despite beating earnings and revenue estimates for Q2, the slight increase in shares suggests that the overall market sentiment might have been bearish, impacting Fox Corporation's stock as well.

07.01.2024 - FOXA Stock was down 5.9%

  • FuboTV (FUBO) stock plunged 20% today after ESPN, Fox, and Warner Bros. Discovery announced a new major sports streaming service. This announcement is seen as a negative development for FuboTV, which prides itself on being a platform to stream live sports.
  • The joint venture between ESPN, Fox, and Warner Bros. Discovery is expected to replicate much of what FuboTV has to offer, posing a significant challenge to FuboTV's sports streaming aspirations.
  • The new sports streaming platform, set to launch in the fall, will include offerings from at least 15 networks and all four major professional sports leagues. This one-stop app for sports streaming is likely to attract fans who currently subscribe to multiple services.
  • Fox Corporation's Q2 TV ads market struggled as ad revenue slumped 20%, primarily due to the absence of the FIFA Men's World Cup at FOX Sports and lower political advertising revenues. However, Fox Corp. beat earnings and revenue estimates for Q2, which resulted in shares being slightly up.

07.01.2024 - FOXA Stock was down 5.3%

  • FOXA reported a decrease in advertising revenues by 20% due to the absence of major events like the FIFA Men's World Cup and the 2022 midterm elections.
  • However, FOXA beat earnings and revenue estimates for Q2, which led to a slight increase in shares.
  • The decline in revenue and EBITDA also contributed to the bearish movement.
  • The overall market sentiment might have been influenced by the mixed results and the absence of significant advertising opportunities.

10.10.2023 - FOXA Stock was down 5.0%

  • The bearish movement in FOXA stock could be attributed to the overall market sentiment towards entertainment stocks, which are facing challenges due to changing consumer preferences and the rise of streaming platforms.
  • The appointment of Adam Ciongoli as Fox Corporation's chief legal and policy officer may not have directly influenced the bearish movement in the stock.
  • The articles discussing the valuation of FOXA as a hidden gem in the market may not have had an immediate impact on the bearish movement, as market sentiment seems to be outweighing potential value.
  • Overall, the bearish movement in FOXA could be a reflection of the broader concerns and challenges faced by the entertainment industry.

03.10.2023 - FOXA Stock was up 5.0%

  • The bullish movement in FOXA's stock today could be attributed to several factors:
  • Strong Q1 2024 earnings: Fox Corporation reported better-than-expected earnings for the first quarter, with revenue beating consensus estimates. This positive financial performance likely contributed to the bullish market movement.
  • Revenue boost from FIFA Women's World Cup: The broadcast of the FIFA Women's World Cup may have provided a revenue boost for Fox Corporation, as affiliate revenues increased by 2% year-on-year. This positive news could have further fueled investor optimism.
  • Decrease in expenses: Despite a drop in profit, Fox Corporation managed to beat estimates, which could be attributed to cost-cutting measures or improved operational efficiency. This positive outcome might have instilled confidence in investors.
  • Overall market sentiment: It's also important to consider the overall market sentiment, as positive market conditions and investor optimism can influence the movement of individual stocks.

01.08.2023 - FOXA Stock was down 5.4%

  • The bearish movement in FOXA could be attributed to the negative impact of former President Donald Trump's decision to skip the GOP debate. This decision might have raised concerns among investors about the network's viewership and potential political influence.
  • The viral mugshot of Trump, along with the news of his indictment on criminal charges, has dominated the media landscape. This intense focus on Trump might have overshadowed other news stories, leading to a decline in viewership and subsequently affecting FOXA's stock performance.
  • Despite being a leading conservative news network, FOXA's struggles this week could be due to the perception that it is not capitalizing on the current political climate as effectively as its competitors. This might have eroded investor confidence in the stock.
  • In summary, the bearish movement in FOXA today can be attributed to the combination of Trump's decision to skip the debate, the dominance of his mugshot in the media, and concerns about FOXA's ability to capitalize on the current political landscape.

08.07.2023 - FOXA Stock was up 5.0%

  • The bullish movement in FOXA's stock today can be attributed to positive financial results and strong performance. The company reported higher earnings for its fourth quarter, beating Street estimates. Additionally, the company's full-year fiscal 2023 revenues and net income were also impressive. These positive financial indicators likely boosted investor confidence and contributed to the bullish market movement.
  • Fox Corporation reported higher earnings for its fourth quarter, beating estimates.
  • The company's full-year fiscal 2023 revenues and net income were impressive.
  • Positive financial results likely boosted investor confidence and contributed to the bullish market movement.
  • The mention of Bitcoin in a "Simpsons" episode aired on Fox might have also generated some interest in the company's stock.

31.06.2023 - FOXA Stock was down 0.1%

  • The closure of the FOX Bet online gambling business, a joint venture between Fox Corporation and Flutter Entertainment, might have negatively impacted FOXA's stock.
  • The increase in stock position by Texas Permanent School Fund Corp could indicate a positive sentiment towards FOXA, but it doesn't seem to have influenced the market movement significantly.
  • The bearish movement could be attributed to the news of winding down the Fox Bet business, which could have raised concerns about the company's future revenue streams.

10.06.2023 - FOXA Stock was down 1.6%

  • The increase in holdings by Nordea Investment Management AB suggests a positive sentiment towards FOXA, but this may not have had a significant impact on the stock's movement today.
  • The investigation claims by The Schall Law Firm could have caused concerns among investors, leading to a bearish movement in the stock.
  • It is important to note that the investigation claims are not confirmed breaches of fiduciary duty, but the news itself might have created uncertainty and negative sentiment around FOXA.
  • Other factors such as broader market conditions and industry trends could have also contributed to the bearish movement in FOXA today.

09.04.2023 - FOXA Stock was up 7.1%

  • Fox Corporation posted better-than-expected Q3 earnings, with adjusted EPS of $0.90 and revenue of $4.01 billion, beating the consensus estimate of $0.87 and $4.03 billion, respectively.
  • The legal settlement with Dominion Voting Systems and the departure of Tucker Carlson, Fox News' highest-rated prime-time TV host, did not seem to have a significant impact on the company's financial performance.
  • The positive earnings report may have contributed to the bullish movement of FOXA's stock today.
  • There were also news articles about Tucker Carlson considering launching a direct-to-consumer media platform and growing pushback over BlackRock's involvement in Ukraine, but these were not directly related to FOXA's market movement.
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Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.