The Rundown - Disney's Cable TV Biz Dents Profits, Firefly Surges on Plan to Resume Rocket Launch

Episode Date: November 13, 2025

Stock market update for November 13, 2025.Follow us on Instagram @therundowndailyThis video is for informational purposes only and reflects the views of the host and guest, not Public Holdings or its subsidiaries. Mentions of assets are not recommendations. Investing involves risk, including loss. Past performance does not guarantee future results. For full disclosures, visit Public.com/disclosures.

Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zadadmani, and today is Thursday, November 13th. In today's episode, we'll tell you why the end of the government shutdown won't give us all the economic data we were waiting for. We'll also recap earnings from Disney, Cisco, and Fandul. Then stick around to the end of the show to find out about the big engineering breakthrough from Waymo. We got a great show. for you today.

Let's go. Stocks are coming off another mixed day of trading with the S&P 500 pretty much flat on Wednesday, but the NASDAQ dropped 0.3%. The Dow Jones continues to be the star of the show. It hit record highs yesterday, but you guys already know what I'm going to say. Nobody should care about the Dow.

A long time listeners know, I'm a big-time Dow hater. I've done my rant about the Dow multiple times. It's a boomer index that isn't representative of the overall market. You know, the Dow is made up of just 30 stocks, and it's price weighted and not market cap weighted, which makes zero cents in 2025. And because it's price weighted, Goldman Sachs actually makes up nearly 10% of the Dow, while a company like Apple, one of the most valuable companies on Earth, is only 3.5%.

So yeah, that's my Dow rent for today. But the real story here is that big tech stocks continue to dip. On Wednesday, companies like meta, Google, Amazon, Tesla and Oracle were all down between 2 to 3%. So this rotation out of big tech seems to still be happening, and it's the trend that I'll be watching for the rest of the year. Now, zooming out a bit, let's talk about the government shutdown because after a record 43 days, the shutdown is finally over.

President Trump signed a bill last night that would fund the government through the end of January, so that's some great short-term news. Now, many investors were looking forward to getting their hands on all the economic data from the government once the government reopened. Now, we never got the October jobs report and the October inflation report. Well, it turns out we might not ever get that data. The White House said yesterday that the shutdown may have permanently damaged the federal statistical system with the October CPI and jobs report likely never being released.

Now, the Bureau of Labor Statistics, which is the federal agency in charge of this data, is slightly pushing back. They said they're going to resume normal operations now that funding is restored. and some analysts think they'll still publish October numbers once they've processed everything. So we'll stay on top of that developing story. Hopefully the BLS still releases that data. So yeah, next few weeks should be very interesting with Nvidia earnings and a Fed meeting. So make sure you guys are subscribed to the podcast and tuning in every day to stay in the loop. Let's run through some headlines.

Starting with Disney. Disney delivered a mixed bag of earnings this morning and it's dragging down the stock. Disney did beat on profits, but revenues came in light because the old school part of their business, which is cable TV, continues to struggle. Profits at the traditional TV unit fell 21%. On top of that, Disney's movies in Q2 didn't do so great either, especially when you compare it to last year's success like Inside Out 2 and Deadpool and Wolverine. But the bright spot for Disney was their streaming and parks business. Let's start with streaming. Operating income from streaming jumped 39% in Q3, thanks mostly to price hikes.

Disney Plus added 3.8 million subscribers bringing its total to 132 million and Hulu grew to 64 million. But keep in mind, just like Netflix, Disney won't be reporting subscriber numbers in their earnings report moving forward. Now, looking at Disney's Experience Division, which includes their parks and cruises, that saw profits jump 13%. Disney says that demand for cruises and parks have been holding up despite higher prices. Now, looking ahead, Disney's got some big movies coming out this quarter. Zootopia 2 is right around the corner, which I'm really excited. about and a new avatar movie is coming out in December. So that should help their box office numbers, but the expenses tied to those movies will reduce Disney's earnings by $400 million. On top of that,

Disney's also in a messy distribution fight with YouTube TV, which has been extremely annoying for sports fans like me because I can't watch ESPN. But let's hope they figure that out pretty soon. Overall, Disney is dealing with some short-term uncertainty, but they still expect double-digit earnings growth for 2026. I guess that wasn't enough for investors and Disney's stock is down around 8% this morning at the time of this recording. Let's shift gears and talk about Anthropic. You know, we always talk about Open the eye, but not a lot about Anthropic,

which is the maker of the Claude Chatbot. Anthropic recently came out and said they plan to invest $50 billion to build new custom data centers starting in New York and Texas through a partnership with the GPU cloud startup fluid stack. These facilities are expected to go live in 2026, with more coming after that. And this isn't even Anthropics' first mega campus.

they already have an $11 billion dedicated data center in Indiana built by Amazon, which is one of their largest investors and primary cloud partner. Anthropic is running into the same issue that all AI companies are running into. They say they don't have enough capacity to meet demand. Anthropics business has been growing fast. The company now serves more than 300,000 businesses, and its run rate revenue has served from $1 billion at the start of the year to $7 billion as of last month.

So they're trying to get their hands on as much data center capacity as they can get, especially since their competitor like Open AI are planning to spend like a trillion dollars on data centers. So yeah, big picture, AI spending isn't slowing down anytime soon. JP Morgan estimates that global spending on data centers, AI infrastructure, and the power to support all of it will exceed $5 trillion over the next five years. Let's talk about some stocks making moves today. Cisco's shares are climbing after the network company delivered another strong quarter and more importantly, an upbeat outlook that shows that it's finally cashing in on the AI boom. Revenues for the

company jumped 8% year over year powered by a 15% growth in its core networking business. Cisco has now reported four straight quarters of revenue growth, reversing a losing streak of four consecutive quarters of revenue decline. I call that James Harden. Now, the big headline from Cisco's earnings was AI infrastructure orders from hyperscalers, which hit $1.3 billion. These big tech hyperscalers are buying up Cisco's networking products to install in AI data centers. Cisco said that their relevance in AI continues to build and they lifted their full year outlook for 2026. So investors loved it and the stock is up more than 5% this morning at the time of this recording. Now sticking with the winners here, let's talk about Firefly Aerospace. Shares of the space company are skyrocketing this morning

after telling investors they expect to resume launches of their Alpha rocket by the end of the year. The company had halted flights after a rocket exploded during a September test, but they say they found the issue and they've since added extra inspections and automated abort system. So investors are happy to hear that. Shares of the company are up more than 20% this morning. Now, Firefly is a private rocket company that's trying to be a legit competitor to SpaceX. They IPO back in August. There was a lot of hype surrounding this company, but the stock is down around 60% from its peak. Now, speaking of losers, let's talk about Flutter, the world's biggest online betting company.

and the owner of Fandul, their shares are sliding this morning after cutting full-year profit outlook. And the reason that they're cutting their outlook is kind of funny, apparently betters on Fandul keep winning, which means Flutter has to send out a higher payout, which is eating into their margins. The other big threat to Flutter's business has been the rise of prediction market platforms like Kalshi and Pauley Market. You know, these platforms have gotten super popular because they don't have to meet strict gambling regulations from state governments because their events contracts, which is a loophole they used to get around all these regulations. In fact, sports spending volumes on Kalshi is nearing $1 billion a week, according to the financial

times. But Flutter is fighting back. They're launching their own prediction market's app called Fanduil Predict in a partnership with the CME group to take on Kalshi and Polly Market. Now, the opportunity here is huge, but it's also going to be expensive to build out. Flutter says the investment will cut profits by $40 to $50 million this quarter. $200 to $300 million next year. And that's the reason why the stock is facing some pressure today. It's down around 4% at the time of this recording. Let's wrap the show with the fun fact. Waymo will start doing driverless rides on highways for the first time ever. Waymo is Google's self-driving car company, probably the leader in that space. And they just announced

that starting this week, Waymo will start driving on highways in Los Angeles, Phoenix, and San Francisco. This is a pretty big milestone because up until now, autonomous rides have stayed on local streets. Highways are tougher. Cars are driving at higher speeds. There's bigger risk if something goes wrong. And honestly, people drive like maniacs on the highway, at least here in Houston, which is like 80% highway. So shout out to the Waymo team, glad they made it onto the highway. Now I'm just waiting for Waymo's to launch in Houston, so I never have to drive again.

Well, all right, guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did, and you have like five extra seconds, consider giving us a five-star rating on Apple, Spotify, YouTube, wherever you listen to your podcast. If you are listening on Spotify, don't forget to vote in today's Spotify poll. Leave us a comment on Spotify.

All that engagement really does help us out, and it helps other people find the show. Thank you guys so much for listening, watching, and commenting. Shout out to Mike and Connor for all the work behind the scenes. And we'll see you guys back here tomorrow. Frozen lasagna, medium power, 15 minutes. Sounds like Ojo time. Let's play.

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