Walt Disney Co (The)
147.15 - 152.66
136.632 - 203.02
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By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) - Wall Street's main indexes fell on Friday, with the Nasdaq set for its fourth straight day of declines after a weak forecast from Netflix sent its shares along with other streaming companies spiraling lower. Netflix Inc (NASDAQ:NFLX) plunged 22.7% after the streaming giant fell short of market forecast for new subscribers at the end of last year and offered a downbeat outlook for early 2022. Shares of technology and media companies including Walt Disney (NYSE: DIS) Co, ViacomCBS (NASDAQ:VIAC) and Roku (NASDAQ: ROKU) that have invested heavily in streaming also fell between 4.3% and 5.0%. Seven of the 11 major S&P 500 sectors fell, with communication services down 1.7% at an eight-month low. Analysts on Thursday raised doubts about business prospects of pandemic market favorites including Netflix and Peloton Interactive (NASDAQ: PTON). However, shares of Peloton recovered somewhat from the previous day's fall, gaining 4.2% after its chief executive denied a report that the exercise bike maker was halting some production and raised second-quarter revenue forecast. "The pandemic winners are under pressure and that will likely continue. If everybody already has Netflix, it's hard to improve subscriber growth," said John Lynch, chief investment officer for Comerica (NYSE:CMA) Wealth Management in Charlotte, North Carolina. "Perhaps investors' expectations were a little stretched." Other megacap growth companies such as Microsoft (NASDAQ:MSFT), Tesla (NASDAQ:TSLA) and Apple (NASDAQ:AAPL) are scheduled to report earnings next week. Wall Street's main indexes tracked at least their third straight weekly declines, with the Nasdaq Composite set for its worst week since March 2020. The Nasdaq on Wednesday closed more than 10% below its all-time high hit in November, confirming it was in correction territory. The tech-heavy index has particularly come under pressure after rising Treasury yields and expectations of a more aggressive Federal Reserve in controlling inflation hit growth shares. The central bank's policy meeting next week will offer more clarity on its fight against surging inflation, after data earlier this month showed consumer prices rising to its highest level in four decades in December. "Maybe by the middle of next week if we get some clarity from (Fed Chair Jerome) Powell, some of that pressure on stocks can subside as investors get more comfortable" Lynch added. At 9:49 a.m. ET, the Dow Jones Industrial Average was down 17.77 points, or 0.05%, at 34,697.62, the S&P 500 was down 21.93 points, or 0.49%, at 4,460.80 and the Nasdaq Composite was down 114.42 points, or 0.81%, at 14,039.60. Single stock options totaling about $1.28 trillion were set to expire on Friday, potentially driving sharp market movements and impacting stocks that have very large call positions like Apple, Microsoft, Tesla, Amazon (NASDAQ:AMZN), Meta Platforms and Google-parent Alphabet (NASDAQ:GOOGL). Bitcoin fell sharply on Friday, as investors moved away from riskier assets and after Russia proposed a ban on the use and mining of cryptocurrencies, dragging down crypto-linked stocks such as miner Hut 8 Mining Corp and crypto exchange Coinbase (NASDAQ:COIN) Global more than 10%. Declining issues outnumbered advancers for a 2.44-to-1 ratio on the NYSE and for a 2.61-to-1 ratio on the Nasdaq. The S&P index recorded four new 52-week highs and 17 new lows, while the Nasdaq recorded four new highs and 624 new lows.
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DIS and ROKU following it down
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lupton capitulation on growth, been buying dis and mu
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$QQQ are opening flat and $SPY coming gap to the upside and the IWM also with a common gap to the upside. With the sell off on Friday, both $SPY & $QQQ are hovering around the 50MA. Usaully after a sell off we might see a bounce day/inside day. Good idea to look for stocks that are in need a bounce or that are extended to the downside. $WMT- Looking for a bounce/ dips towards 137-136 area to join trend. $MRK- Same idea, looking for flushes towards 72 area, good portion of the buying level is at that level and looking to join the dip buyers. If you know my strategy, I like to start with a starter towards that level and not add until I see confirmation. $DELL- gapping up, but like the daily chart, did not participate in the sell off, liking dips 58.5-58 area. $DIS- Like short towards 148-149 area. Keep an eye on the spy $C- liking after the downgrade at Morgan Stanley, will try short around median levels(63-63.5) $SNAP- I see more downside, liking pops towards $47 area $CRM- Looking for a bounce of this base and volume shelf. 253 is my long interest.
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**@elerianm:** .@WSJ on the changing relationship between #inflation and #globalizationIssues raised would extend the inflation debate from shorter-term issues to one of the three long-standing dis-inflationary secular forces (the other two being #tech and demographics)https://t.co/HBtrYz56Er https://t.co/yTvE2qY3Yh https://twitter.com/elerianm/status/1467797484982439940
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DIS getting close to level
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two decent daily candles in DIS
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new phone who dis
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RECAP 11/19 Chatter: $ORCL + DOD Cloud $BA - SlowS Dreamliner Production $BA - House 787 Oversight review $BMRN + Voxzogo approval $MNTV - $ZEN t/o DOA $BKKT + Ether available $DIS + Hulu bundle $RIVN - battery test Qs $V + CFO expects $AMZN resolution $XPO + Assets Sale
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The Walt Disney Company, together with its subsidiaries and affiliates, is a leading diversified international family entertainment and media enterprise that includes Parks, Experiences and Products; Media & Entertainment Distribution; and three content groups—Studios, General Entertainment and Sports–focused on developing and producing content for DTC, theatrical and linear platforms. Disney is a Dow 30 company and had annual revenues of $65.4 billion in its Fiscal Year 2020.