$AMC Entertainment(AMC)$ took a beating this week after disclosing its preliminary first-quarter results which showed a quarterly loss, an aftermath from earlier Hollywood writers and actors strikes that has adversely impacted the box office. The pandemic had taken a toll on the movie theatre chain, while crowds have not returned in hordes to its cinemas despite easing of the pandemic restrictions, as the world adapts to the new normal and has been accustomed to the streaming media platforms such as Disney and Netflix that have been luring away viewers with their rich contents and on-demand watching anywhere, anytime. Unless AMC is able to reinvent itself to fend off rising competition from the streaming media platforms and remain relevant post pandemic, gone will be the heyday of AMC, while we welcome the new era of Netflx and Disney.
Meanwhile, $Roblox Corporation(RBLX)$ has been capitalizing on recovery of online gaming, as the platform continues to grow its base of young users and monetise from the metaverse experience. Live testimonies to its popularity are kids who would not have one day passed without logging into the platform for gaming and socializing. Hence, I look forward to encouraging results with expansion in its active customer base when Roblox releases its latest quarterly earnings on 9 May.
It is no secret that Warren Buffett likes oil companies and his favorite is $Occidental(OXY)$ . With increasing geopolitical tensions and conflicts, oil prices are poised to stay elevated, boosting the coffer of oil majors and Occidental Petroleum Corporation. His Berkshire Hathaway is a major stakeholder in OXY, and has continued to acquire additional stakes in the oil company on price weaknesses, accumulating over $10 billion worth of OXY since the start of 2022. Having paid between $59.85 to $61.90 suggests that the Oracle of Omaha believes that OXY remains undervalued even at $60ish price. OXY is scheduled to announce its first-quarter earnings results on 7 May. Even if OXY were to unexpectedly fall short of market's expectations, I'm sure Warren Buffett will stand ready to scoop up more shares on the cheap.
As we adjust to the new normal post pandemic, I believe that the online buying habits built over the COVID pandemic are here to stay over time, and this will benefit $Shopify(SHOP)$ that has been enabling e-commerce platforms for thousands of sellers to start, grow, manage and scale their online business and operations. The e-commerce enabler will be reporting its latest earnings results on 8 May when I hope cheers will be brought to the market.
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