The Dow and the S&P 500 were holding relatively flat while the Nasdaq was in the red, despite all the indexes moving higher earlier in the day, even hitting intraday records.
The Priceline Group Inc. (PCLN) was one of the worst performers on the Nasdaq on Tuesday after disappointing fourth-quarter guidance sent its shares tumbling. The company anticipates fourth-quarter adjusted earnings of $13.40 to $14 a share, below analysts' estimates of $15.57 a share. For the third quarter, Priceline earned an adjusted $35.22 a share, above estimates of $34.26.
Disney (DIS) shares continued to rise on reports that the house of mouse was interested in acquiring assets of Twenty-First Century Fox Inc. (FOXA) . It isn't certain that a deal could come from discussions held in recent weeks. Reports of negotiations broke on Monday, sending both companies sharply higher.
Disney is also scheduled to report its quarterly results on Thursday. Analysts are anticipating a solid fourth-quarter performance with net income rising to $1.15 a share over the three months to September, higher than $1.10 a year earlier. Sales are expected to come in on the weak side with revenue growth of just 1.2% to $13.3 billion, according to FactSet numbers.
Shares of Weight Watchers International Inc. (WTW) soared higher after a better-than-expected third quarter. Net income rose to 65 cents a share from 53 cents a year earlier. Analysts expected profit of 51 cents a share. Revenue of $323.7 million beat estimates of $316 million.
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