Here Are 3 Hot Things to Know About Stocks Right Now

  • The Dow Jones Industrial Average closed lower for the first time in five sessions. 
  • Walt Disney Co. (DIS) - Get Walt Disney Company Report  rose 2% after the media giant's fiscal fourth-quarter earnings topped Wall Street estimates.
  • Yelp Inc. (YELP) - Get Yelp Inc Report  plunged 27% after the online review site missed analysts' quarterly revenue estimates.

Wall Street Overview

Stocks fell on Friday, Nov. 9, as the Federal Reserve's signals on interest rates have put the brakes on this month's Wall Street rally.

The central bank held borrowing costs at their current level Thursday, Nov. 8 -- at least until next month, when the Fed is widely expected to hike the benchmark U.S. interest rate for the fourth time this year. The Fed also is likely to boost rates at least two more times in 2019, according to experts.

The moves Thursday by the Fed sent benchmark 2-year Treasury note yields to their highest since June 2008 and helped the dollar rebound firmly on foreign exchange markets.

The Dow Jones Industrial Average fell 202 points, or 0.8%, to 25,989, the S&P 500 slid 0.9%, and the Nasdaq declined 1.65%.

Stocks ended mixed on Thursday, Nov. 8, after the Fed left interest rates unchanged. The Dow finished slightly higher while the S&P 500 closed lower, snapping a three-day winning streak.

The Producer Price Index -- a measure of inflation at the wholesale level -- jumped 0.6% in October, its the biggest increase in six years. Economists had expected PPI to rise 0.2%. Core PPI, which excludes food and energy prices, rose 0.2% last month.

Walt Disney Co. (DIS) - Get Walt Disney Company Report rose 2% on Friday after fiscal fourth-quarter earnings topped Wall Street estimates, and the media giant said its planned streaming service, which launches next year, would include original content such as a "Star Wars" prequel and a live-action "Marvel" series.

"Our Disney-branded service, which we're officially calling Disney+, will be in the U.S. market late next year, offering a rich array of original Disney, Pixar, Marvel, Star Wars and National Geographic content, along with unprecedented access to our incredible library of film and television content, including all of our new theatrical releases starting with the 2019 slate," said CEO Bob Iger in a statement.

Disney posted adjusted earnings in the quarter of $1.48 a share, topping forecasts of $1.34. Revenue of $14.3 billion beat forecasts of $13.7 billion.

"Overall, we viewed the quarter as clean earnings beat," said Jim Cramer and the team at Action Alerts PLUS, which holds Disney in its portfolio. "If we were to nitpick, we would point out that TV viewership is still working against the company's favor, but management has mitigated this risk through its initiatives that aggregate its content and go directly to the consumer."

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Activision Blizzard Inc. (ATVI) - Get Activision Blizzard, Inc. Report tumbled 12% on Friday after third-quarter earnings at the video game publisher missed analysts' expectations, and monthly active users fell for a third straight quarter.

Earnings were 52 cents a share, after deferred accruals of 10 cents a share are added, on revenue of $1.51 billion. Analysts, on average, were expecting the company to report earnings of 50 cents a share on revenue of $1.66 billion.

The owner of the "Call of Duty" franchise reported 345 million monthly active users in the third quarter, down from 352 million in the second quarter.

Yelp Inc. (YELP) - Get Yelp Inc Report  plummeted 27% after the online review site missed analysts' quarterly revenue estimates.

Yelp reported third-quarter revenue of $241.1 million vs. estimates for $245.4 million, according to FactSet. Earnings of 17 cents a share beat estimates of 10 cents.

The company blamed the revenue shortfall on a change to no longer require advertisers to sign up for a fixed period of advertising.

General Electric Co. (GE) - Get General Electric Company (GE) Report  fell 6% to $8.58 after JPMorgan analyst Stephen Tusa lowered his price target on the stock to $6 from $10.

Dropbox Inc. (DBX) - Get Dropbox, Inc. Class A Report  rose 3% after the software maker reported third-quarter adjusted earnings of 11 cents a share, beating estimates by 5 cents.

II-VI Inc. (IIVI) , the optical products maker, reached a deal to buy Finisar Corp. (FNSR) - Get Finisar Corporation Report , a maker of specialized laser scanners that is a major supplier to Apple Inc. (AAPL) - Get Apple Inc. (AAPL) Report , for about $3.2 billion.

Finisar shareholders will receive $26 a share in cash and stock, a premium of 37.7% to Finisar's closing price on Thursday of $18.88. Finisar rose 15% on Friday to $21.80. II-VI fell 19%.