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The Week Ahead: Walt Disney, CVS, and Berkshire Hathaway to Report Earnings

The week ahead in earnings winds down, but we have our eyes on these big names.

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Earnings from the June quarter are starting to wind down, but in the week ahead we still expect to see reports from big names, starting with Walt Disney (DIS) on Tuesday, then CVS Health Corp (CVS) on Wednesday, and lastly Berkshire Hathaway (BRK.) (BRK.B) on Friday.

Although the lockdowns in March had consumers fleeing to at-home entertainment for comfort and distraction, the first quarter of 2020 saw significant television customer losses. With revenue streams from content licensing, we expect that the traditional television business and firms like Walt Disney will remain large enough. We believe these factors will support excess returns on capital over the next decade; however, we trimmed our fair value estimate for Disney after the media industry’s rough start in 2020. We had expectations that the industry would find creative ways to improve the price/value equation for consumers and fix its television problems, but our outlook has dimmed as streaming offerings become the priority.

Carole Hodorowicz does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.

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