News Summary (AFFX, DIS)

Affymetrix's AFFX shares have slipped more than 25% after the company lowered its Q2 earnings and revenue forecasts. AFFX now expects to generate only $71-$72 million of revenue, as compared to the previous expectation of $80-$82 million and the Street view of $82.2 million. The company blamed austerity measures adopted by Europe for a part of the shortfall in its quarterly revenue. Disney DIS seems to be succeeding in its China-based schools that teach English to students. After its trial phase with 11 schools completes, the company plans to expand the project to 148 over the next five years. DIS believes that this project has "a very sizeable opportunity, something that can deliver operating earnings of well over $100M in the next five years." Central banks are selling gold to Bank for International Settlements (BIS) at a record high rate. The banks are capitalizing on the gold prices that have touched historically high level to raise cash. "A little-noticed data point at the back of a 216-page report released last week by the BIS shows the international agency has taken 349 metric tons of gold since December - allowing central banks to raise a record $14B." Read more from Benzinga's Markets.