Companies Such As Zoom, Walt Disney, and More Making Stock Movements
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In the list of companies making significant stock movements, the first company is Zoom Video Communications (ZM). The data shows that the stock prices for Zoom have experienced a 4% rise in the premarket trading on Friday, October 1, 2021. The rise was experienced as the company announced that it had terminated its deal with Five9 (FNN). The deal between the two companies was worth $15 billion and it was ended after mutual consent. Just recently, reports had emerged that Zoom was in the process of acquiring a contact center operator. However, the shareholders of Five9 were unhappy with the deal, and the deal with rejected. Despite the termination, both companies have confirmed that they will be working mutually as they did in the past.
The next company on the list is Walt Disney that may experience a positive/negative trend with its stock prices. This is because reports have started coming in about the settlement of the lawsuit between Walt Disney and Scarlett Johansson. The lawsuit had been filed by Johansson’s lawyers following a contract breach committed by Walt Disney. The star of the “Black Widow” movie revealed that despite adding the clause of not releasing the movie through online streaming platforms, Walt Disney broke the deal. Walt Disney indeed launched the “Black Widow” movie through Disney+, which is Disney’s online streaming service. With the lawsuit being settled, there are possibilities that the stock prices may increase for Disney. However, Disney’s recent claims against the star may result in Disney losing its investors’ bullish sentiments.
The next company in the list is Wells Fargo that may end up experiencing a huge loss in terms of its share prices. The reason behind the potential loss in share prices is that the banking giant is still under the water due to its recent scandals. The firm recently revealed that it was recovering its business as well as fixing all the issues and regulatory risks that it had been facing for years. In the light of the claims, Wells Fargo pleaded to dismiss the cases against it. However, the court dismissed all the claims made by the bank because different employees of the company had different stories to share about the bank. Several officials from the bank revealed that Wells Fargo’s recovery claims are all misleading and false.
The next company is Exxon Mobil that has hinted that it is going to have a very profitable fiscal third quarter. The company has made the claims in its recent filings that it submitted at the Securities and Exchange Commission. The company has revealed that it in the upcoming months, the prices of gas and oil would be higher. This means that their earnings will increase in the upcoming quarters. The company is aiming to hit $1.5 billion worth of sales in the upcoming quarter.
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