Today, U.S. pre-market indices recorded gains, with Dow, S&P 500, Nasdaq, and Russell 2000 all on the upswing. This marks the longest winning streak for the Dow since July. Additionally, Wholesale Inventories for September showed an improvement to a neutral 0.0%, putting an end to a previously negative trend.
Fashion company Ralph Lauren (NYSE: NYSE:RL) posted robust fiscal Q2 results today, surpassing estimates on both earnings and sales. The company reported an addition of 1.3 million new Direct-To-Consumer (DTC) subscribers in the quarter and observed a 2% increase in its share price. The company has maintained its full-year guidance.
Biogen Inc. (NASDAQ: NASDAQ:BIIB) also reported strong Q3 earnings and revenues this morning. The company's Multiple Sclerosis (MS) product line significantly contributed to its revenue. Despite receiving FDA approvals for treatments for ALS and Alzheimer's diseases, shares of Biogen remain down single-digits year to date.
However, not all companies enjoyed positive results today. Warner Bros. Discovery (NASDAQ: NASDAQ:WBD) fell short of its bottom-line estimate but surpassed revenue expectations for the quarter, despite losing 700K subscribers. The company's shares are down by 12% in early trading today. This is despite the success of the "Barbie" movie which has grossed $1.5 billion since its release.
Investors will be looking forward to later today when earnings results from The Walt Disney (NYSE:DIS) Co., Arm Holdings (NASDAQ:ARM), and MGM Resorts (NYSE:MGM) among others are expected to be released.
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