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Fly News Breaks for August 2, 2019
DLB
Aug 2, 2019 | 08:46 EDT
Shares of Dolby Laboratories are trading down after the company lowered full-year revenue guidance and announced an unexpected restructuring charge this quarter, William Blair analyst Ralph Schackart tells investors in a research note. However, Dolby posted a 3% beat on licensing revenues for the second quarter in a row, adds the analyst. He remains bullish on Dolby and believes its core licensing business is intact. Schackart keeps an Outperform rating on the shares.
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