TheStreet’s Conway Gittens brings the latest business headlines from the floor of the New York Stock Exchange as markets open for trading Tuesday, May 7.
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Full Video Transcript Below:
CONWAY GITTENS: I’m Conway Gittens reporting from the New York Stock Exchange.
Here’s what we’re watching on TheStreet today. Stocks are coming off a positive session on Wall Street as the Dow looks to build on its fourth positive day in a row. Investors are digesting earnings from Disney, which reported better-than-expected results, boosted by strong streaming numbers. Investors will be watching closely for earnings from Airbnb, Uber, and Shopify later this week.
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In other news, gamers, rejoice. Nintendo revealed plans to announce its successor to the wildly popular Switch within the next year. The president of Nintendo revealed the company’s plans on X with a post saying, “It will have been over nine years since we announced the existence of Nintendo Switch back in March 2015.”
The Nintendo Switch made its debut in 2017 and has since become the third best-selling console of all time. The device has gone on to sell more than 139 million by the end of last year, according to gaming website IGN. Switch trails only Nintendo’s own DS console with 154 million units sold and Sony’s PlayStation 2 at more than 159 million.
Sales of the Switch have been helped over the past year with releases like The Legend of Zelda: Tears of the Kingdom and Super Mario Bros. Wonder. But Nintendo is expecting sales to slow - predicting to sell 2.2 million fewer consoles than it did last year. Users currently have three different Switch models to choose from.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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