Happy Wednesday Zingers! They say that the house always wins — even if it’s inside a mousehole. Disney, aka the House of Mouse, finally got investors feeling the magic today after some strong earnings.

We’ll see if Disney’s attempted turnaround will prove to be a Cinderella story. The company is trying to find A New Groove after trading down around 60% from its highs. But is it time to take a chance on $DIS? Or… Let It Go?

Today’s Price Action:

$SPY: +.83%
$QQQ: +1.03%
$DIA: +.41%

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TODAY’S MOST VOLATILE STOCKS

ONE TOP MOVER

PayPal’s Stock Drops On Weak Guidance

Briefly: PayPal’s stock was not investors’ pal today, dropping more than 5% at one point in the after-hours session following weak guidance.

So Basically: PayPal reported earnings after the close today, delivering a double beat on revenue and EPS estimates.

But Still: The company’s active users were down 2% year-over-year, and the company gave some relatively weak guidance.

So Then: Payment transactions were up 13% in the quarter and payment transactions per active account increased 14% on a trailing 12-month basis. Total active accounts decreased 2% to 426 million.

So What? “We’re driving significant transformation across our company and are committed to making the necessary changes to our business to drive profitable growth in the years ahead,” PayPal CEO Alex Chriss said.

What Next: Read more here.

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FIVE MOVERS

Wynn shares shot higher after the company reported stronger-than-expected earnings, citing growth in Macau. I told you the house always wins!

Plug Power shares moved lower in today’s session following an analyst downgrade and a new price target from UBS.

$NYCB stock recovered in a major way, closing the day up more than 6% after appointing a new executive chairman.

Arm shares — as opposed to armchairs — skyrocketed more than 30% after the British chipmaker reported a monster quarter. 

Chipotle stock continued to move higher today, closing up more than 7% as investors piled into the stock after a strong earnings report.

ONE TRADE IDEA FOR TOMORROW

China Market Woes Far From Over, Analyst Says

Briefly: Chinese stocks have struggled against the overall market. The $KWEB ETF is down nearly 25% in the last 12 months. But the worst may be yet to come.

So Basically: Some investors have been trying to bottom-pick names like Alibaba and JD, buoyed by expectations of coming government stimulus.

But Still: Analyst Nathan Levine says it’s better to stay away.

So Then: Levine argues that China’s economy will continue to struggle, having failed to fully bounce back following a series of punishing COVID-19 lockdowns.

So What? “China's economy faces deep structural problems and is increasingly running into the limits of its current growth model,” says Levine.

What Next: Read the full breakdown of China’s economic situation here.  

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