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DiS Disney may get its Florida tax magic back
Florida lawmakers are reportedly working to reverse a law stripping Disney of its special tax status in the state, The Financial Times reports, after a feud between Gov. Ron DeSantis and Bob Chapek, the company’s former C.E.O.
https://www.google.com/amp/s/www.nytimes.com/2022/12/02/business/dealbook/disney-florida-tax-iger.amp.html
$DIS
Disney Put Options Signal Major Upside For Value Investors
By: Barchart | December 2, 2022
Disney Inc. (DIS) put options are trading at levels that are attractive to value investors for their potential returns to income-oriented investors. Disney put option premiums that are one month in the future also imply a good upside for DIS stock.
Disney stock has tumbled over 37% in the year-to-date (YTD) period and is actually down 9.1% in the past month, despite the change in CEOs. On Nov. 20, Bob Iger was rehired as CEO by the board of directors and since Nov. 18 DIS has risen from $91.64 to $98.59 as of Dec. 1. That is a gain of just 7.58%.
Disney's Valuation
Meanwhile the stock's valuation, at 23.6x forward earnings for the year ending Sept. 30, 2023, makes DIS stock look fairly interesting. For example, in the last 5 years, the stock has sported an average forward price-to-earnings (P/E) multiple of 37.7x, according to Morningstar. So, just to get back to its historical mean, DIS stock could rise another 59.7%.
Even if it rose by one-quarter of that rate, based on the moves that Bob Iger is making to right the ship at Disney, DIS stock could rise by 14.9% to $113.30. This sets a good price target for value investors in the near term.
Shorting DIS Stock Puts To Create Income
Disney does not presently pay a dividend to its shareholders. By shorting out-of-the-money cash-secured puts, value investors can create income and potentially buy DIS stock an at even more attractive price.
For example, Jan. 6, 2023, put option premiums, which are just 35 days out in the future have put option premiums at $90.00 trading for $1.06, as of Dec. 1.
DIS Puts - Jan. 6, 2023 expiration - Barchart - As of Dec. 1, 2023
This means that for an investor who puts up $9,000 in cash with their brokerage firm, they can receive $106 when shorting a $90.00 strike price put for expiration on Jan. 6. That works out to a 1.18% yield on an immediate basis. Moreover, over 12 months, if this type of trade could be repeated, the annualized return is about 14%.
That is a very good return for most investors. Moreover, if the stock falls to $90.00 or below by Jan. 6, the investor will buy the shares at a price that is 8.7% below today's price. This makes it a pretty good entry point for value investors.
However, if DIS stock rises, the investor cannot make a capital gain. That is why it might make sense to wait and see if DIS moves up closer to the $113 target price mentioned above and then sell covered calls then when it reaches a price closer to that level. It probably doesn't make sense to do that just yet, as there seems to be a high likelihood that DIS stock could rise in the near term.
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Walt Disney 1.77 million share #darkpool print at $98.59
By: Money Flow Mel | December 1, 2022
• $DIS 1.77 million share #darkpool print at $98.59.
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I agree. Breitbart is reporting today that Iger has had meeting with employees saying unfortunate they got wrapped up with Florida laws. However they also reported last year Iger was telling CEO’s to get more involved with these types of policies. I’m in the middle of his book on tape right now. He was a big fan of decentralization style of management which I used to like too until this generation started talking over from Gen z and baby boomers at the work place. This new generation got trophies for just showing up and crying in a corner louder and louder until they got their way. I think the now former CEO trusted his employees would
Do the right thing when instead he got another version of Twitter.
Perhaps all the minor attracted executives and board members will be removed…then Walt can roll over and rest again
Had a mini run if you look at the chart
FOOLS WHO LOSE MONEY INVESTING IN WOKE COMPANIES ONLY HAVE THEMESLVES TO BLAME!!!!!
OBVIOUSLY NOBODY IS INTERESTED IN WHAT DISNEY IS PEDDLING!!!!!!!!
DISNEY HAS BROUGHT THEIR FINANCIAL TROUBLES UPON THEMSELVES!!!!!!!!
I agree man. With Disney and a s/h I couldn’t be more disappointed. Politics is coming from Disney. Losing the ability to self gov in Florida will cost billions. The reason is they’ll have to get local permits just to add an attraction. Bad deal. Disney has to learn it’s not an island unto itself. Iger ‘s vision of decentralization worked fine until this new age group of non worker workers … you have to be willing to switch back to centralized if the workers don’t respect the shareholders
LISTENING: to Igers biography now on my way home from Raleigh. Seems he’s been woke a long time. He’s well liked by John Malone (of Liberty Media) but dang Bob focus on the mouse. Back to basics. Can’t you see HBO and others now are moving away from that activist culture no one will pay to see. Look at white lotus. No one plays lossy gossy with walking the culture line like they do. Disney is for kids not activist. I hate to see Iger go down like this. Kinda like when Michael Isner had to fire Roy Disney from the board - not a good look no matter what you’re politics.
GO WOKE: go broke. Lol. Roy would be pissed
MASSIVE DISNEY ACCOUNTING FRAUD BEING EXPOSED!!!!!! HUGE LOSSES HIDDEN IN BOOK COOKING!!!!!!!!!
DISNEY LOST *** $8 BILLION***!!!!!!!!!!
Walt Disney Co. (DIS) 50D then 100 needs to be cleared
By: Options Mike | November 27, 2022
• $DIS 50D then 100 needs to be cleared. Gap mostly holding so far...
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go woke, go broke. see you at 80.00
Walt Disney Succession Planning:
By: The Transcript | November 26, 2022
• $DIS succession planning:
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NEWS HEADLINE: "Get Woke, Go Broke: Disney’s First Openly Gay Teen Romance Flops At the Box-Office; Receives Lowest Rating Ever for a Disney Animated Feature"!!!!
https://www.thegatewaypundit.com/2022/11/go-woke-go-broke-disneys-first-openly-gay-teen-romance-flops-box-office-receives-lowest-rating-ever-disney-animated-feature/
NOBODY WANTS TO WATCH THIS CRAP!!!!!!!!!!!
HERE IS AN ARTICLE ABOUT DISNEY'S LATEST MOVIE FLOP"
https://www.breitbart.com/entertainment/2022/11/25/nolte-disneys-big-gay-green-strange-world-crashes-at-box-office/
WHAT EVER HAPPENED TO THE DISNEY WORLD EMPLOYEES' MONKEYPOX LAWSUIT???
Spot on article posted here. the well stated facts:
DIS From CNBC Morning Squawk this morning, and my comment:
2. Disney's Sunday night shocker
Sorry, HBO. Disney’s “House of the Mouse” might have the edge of “House of the Dragon” for sheer intrigue and shock value. The Walt Disney Company stunned the business world Sunday night with the news that it had again hired Bob Iger to be chief executive, pushing out Bob Chapek, who had succeeded Iger in the role less than three years ago. Disney’s stock rose after the announcement. Criticism of Chapek had grown to a fever pitch as Disney’s share price fell 40% this year after hitting dramatic highs last year. The CEO switch came less than two weeks after Disney posted weak fiscal fourth-quarter earnings, as well as Chapek’s internal announcement that the company would freeze hiring in some segments, trim costs companywide and cut some jobs. Iger’s return, however, calls into question every decision Chapek made during his brief tenure at the helm of Disney, writes CNBC’s Alex Sherman. (MG NOTE: Hooray! Now get rid of the woke stuff, poste haste!)
Iger has godlike status
Disney's Horrible Board of Directors
By: 24/7 Wall St. | November 21, 2022
Disney’s board finally sacked incompetent CEO Bob Chapek and brought back superhero CEO Bob Iger, who ran Disney successfully for more than a decade. Iger wanted a rest after he was paid hundreds of millions of dollars for running one of the world’s most famous companies. However, the chance to rescue Disney must have been too tempting to keep him on the beach. At the heart of this story is the bungling Disney board, which elevated Chapek and recently gave him a three-year contract extension in June.
Iger was impossible to replace. He was one of the great CEOs of the last quarter century. He built up Disney, in part through M&A, adding the animation studio Pixar, and the Marvel and Star Wars franchises to its stable. In addition to Disney’s traditional business, this portfolio made it America’s entertainment company powerhouse.
Chapek was a disaster early on, but he saved his worst sins in recent decisions. He spent too much on Disney’s streaming business, which had grown to rival Netflix and Amazon Prime. However, as the streaming business slowed, Disney’s expenses did not. Chapek underpriced the service and spent too much on production.
Chapek’s decisions had consequences. Disney’s poor financial results, particularly recently, decreased the stock price by almost 50% in the last year.
Who is at fault more than anyone else? The Walt Disney Company (NYSE: DIS) board of directors.
Susan Arnold, Disney’s chairman, captains the board. Most of her business experience was at Procter & Gamble. Selling soap is not much like marketing movies and running theme parks.
Some members should have known better than to put Chapek into the top job. First among them is John Mark Parker. He has been on the board since 2016. He currently leads Nike. Mary Barra, CEO of GM, also should have known better.
[recirclink id=1154788]
Iger can be blamed for one thing; he was instrumental in the selection of Chapek. At least, when Chapek stumbled, Iger agreed to return.
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DISASTER AT DISNEY! BILLIONS LOST, LAYOFFS SURGE AFTER WOKE VIRUS INFECTS COMPANY!!!!
https://www.brighteon.com/6f5d5f64-dc6a-4142-83f3-79be6cf89ca3
Disney World Hikes Price of Admission for Second Time This Year amid Impending Layoffs
DAVID NG 16 Nov 2022
Breitbart News
https://stockcharts.com/h-sc/ui?s=DIS
As it faces an uncertain financial outlook and the prospect of a prolonged recession, the Walt Disney Co. has hiked the price of its admission to its Disney World parks in Orlando, Florida. The price hikes — the second increases in less than. a year — will see the price of admission to the Magic Kingdom soar as high as $189 for peak dates.
News of the price increases comes as Disney CEO Bob Chapek recently warned of impending layoffs and hiring freezes as the woke company deals with a weak profitability outlook.
Walt Disney World Resort will raise the price of admission to all of its parks – the Magic Kingdom, EPCOT, Disney’s Hollywood Studios, and Disney’s Animal Kingdom, according to multiple reports. The price changes are set to take effect December 8, with prices varying by park and date.
Currently, single-day admission to one of Disney World’s four parks starts at $109 for guests ages 10 and older. The new price structure will range from $109 to $189. The Magic Kingdom will cost between $124 to $189, with the highest price applicable to the nine days around Christmas and New Year’s Day.
The new prices don’t include parking — which costs $25 per day — or add-ons, like the park hopper.
Disney World jacked up prices in February, raising the cost of multi-day passes.
As Breitbart News reported, Disney is facing a shaky financial outlook after reporting quarterly results that disappointed Wall Street, sending its stock plummeting in its worst trading day in decades. Disney revealed that it lost a stunning $1.5 billion on its streaming entertainment services as it seeks to build out Disney+ and Hulu in an effort to compete with Netflix and other streamers.
As a result, the company has begun layoffs, hiring freezes, and a moratorium on non-essential employee travel.
Disney is also hiking the prices of its streaming entertainment services, with the price of a standard Disney+ subscription soaring nearly 40 percent. Hulu is also hiking its prices by more than 15 percent.
The bad financial news comes as Disney continues to embrace woke identity politics by including transgender ideology in its entertainment for children and fighting Florida Gov. Ron DeSantis (R) over the state’s Parental Rights in Education law.
Follow David Ng on Twitter @HeyItsDavidNg. Have a tip? Contact me at dng@breitbart.com
Disney's drawdown hit 57% last week, which is larger than its drawdown from 2007-09 (56%)
By: Charlie Bilello | November 17, 2022
• Disney's drawdown hit 57% last week, which is larger than its drawdown from 2007-09 (56%).
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Disney World $DIS to increase theme park ticket prices for the 2nd time this year
By: Barchart | November 15, 2022
• Disney World $DIS to increase theme park ticket prices for the 2nd time this year.
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imo...
Walt Disney is rolling over in his grave. He built an incredible empire of outstanding family entertainment only to watch a group of failed, liberal, woke fools demolish it into the ground. Sad really and there is no end in sight. With many more layoffs coming this dog is going much lower. Woof woof.
Larger, above avg #darkpool activity in: $DIS 3.02M shares at $94.28
By: Money Flow Mel | November 14, 2022
• Larger, above avg #darkpool activity in:
$DIS 3.02M shares at $94.28
$META 4.67M shares at $114.22
$AAPL 3.71M shares at $148.28
$AMZN 6.03M shares at $98.49
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might as well ask all the ceo to resign the past year lol
Walt Disney Co. (DIS) Filled part of that gap, but didn't' even hit the 8D
By: Options Mike | November 13, 2022
• $DIS Filled part of that gap, but didn't' even hit the 8D.
Really don't like that report. Better names here I think to play.
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Hoping that DIS goes lower. Maybe the CEO would resign.
https://nypost.com/2022/11/12/disneyland-adds-dolls-in-wheelchairs-to-its-a-small-world-ride/
$DIS CEO: It has taken just 3 short years for Disney+ to transform from a nascent business to an industry leader"
By: The Transcript | November 12, 2022
• $DIS CEO: "[Q4] saw the addition of 14.6M subs across our suite of services including 12M Disney+ subscriptions, over 9M of which were core Disney+. It has taken just 3 short years for Disney+ to transform from a nascent business to an industry leader"
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Get Woke, Go Broke: Disney to Begin Mass Layoffs and Freeze Hiring as Part of a Massive Cost-Cutting Initiative.
According to an internal memo addressed to Disney’s executives on Friday, the woke firm would soon begin enforcing layoffs, implementing a targeted hiring freeze, and limiting business travel to essential only as part of a wide cost-cutting initiative, CNBC reported.
“I am fully aware this will be a difficult process for many of you and your teams.” Disney CEO Bob Chapek wrote in a memo to top executives.
“We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time. Our company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow.”
In the letter, Chapek explains how he convened a cost structure taskforce composed of executive officers such as CFO Christine McCarthy and General Counsel Horacio Gutierrez.
“Along with me, this team will make the critical big picture decisions necessary to achieve our objectives,” Chapek said.
In the memo, he outlined the following three objectives:
* to review the company’s content and marketing spending by working with content leaders and their teams.
* limiting headcount additions through a targeted hiring freeze
* review Selling, General, and Administrative expenses (SG&A) costs
CNBC reported:
The moves come after Disney reported disappointing quarterly results. Shares of the company fell sharply Wednesday, hitting a new 52-week low, before rebounding later in the week.
McCarthy said during Disney’s earnings call Tuesday that the company was looking for ways to trim costs.
“We are actively evaluating our cost base currently, and we’re looking for meaningful efficiencies,” she said. “Some of those are going to provide some near-term savings, and others are going to drive longer-term structural benefits.”
Disney’s streaming services lost $1.47 billion last quarter, more than double the unit’s loss from a year prior. McCarthy said losses will improve in 2023, and Chapek has promised streaming will become profitable by the end of 2024.
Other large media and entertainment companies, including Warner Bros. Discovery and Netflix, have cut jobs this year as valuations have slumped. Disney hasn’t announced any plans to eliminate jobs.
Below is the full transcript of Chapek’s memo:
Disney Leaders-
As we begin fiscal 2023, I want to communicate with you directly about the cost management efforts Christine McCarthy and I referenced on this week’s earnings call. These efforts will help us to both achieve the important goal of reaching profitability for Disney+ in fiscal 2024 and make us a more efficient and nimble company overall. This work is occurring against a backdrop of economic uncertainty that all companies and our industry are contending with.
While certain macroeconomic factors are out of our control, meeting these goals requires all of us to continue doing our part to manage the things we can control—most notably, our costs. You all will have critical roles to play in this effort, and as senior leaders, I know you will get it done.
To be clear, I am confident in our ability to reach the targets we have set, and in this management team to get us there.
To help guide us on this journey, I have established a cost structure taskforce of executive officers: our CFO, Christine McCarthy and General Counsel, Horacio Gutierrez. Along with me, this team will make the critical big picture decisions necessary to achieve our objectives.
We are not starting this work from scratch and have already set several next steps—which I wanted you to hear about directly from me.
First, we have undertaken a rigorous review of the company’s content and marketing spending working with our content leaders and their teams. While we will not sacrifice quality or the strength of our unrivaled synergy machine, we must ensure our investments are both efficient and come with tangible benefits to both audiences and the company.
Second, we are limiting headcount additions through a targeted hiring freeze. Hiring for the small subset of the most critical, business-driving positions will continue, but all other roles are on hold. Your segment leaders and HR teams have more specific details on how this will apply to your teams.
Third, we are reviewing our SG&A costs and have determined that there is room for improved efficiency—as well as an opportunity to transform the organization to be more nimble. The taskforce will drive this work in partnership with segment teams to achieve both savings and organizational enhancements. As we work through this evaluation process, we will look at every avenue of operations and labor to find savings, and we do anticipate some staff reductions as part of this review. In the immediate term, business travel should now be limited to essential trips only. In-person work sessions or offsites requiring travel will need advance approval and review from a member of your executive team (i.e., direct report of the segment chairman or corporate executive officer). As much as possible, these meetings should be conducted virtually. Attendance at conferences and other external events will also be restricted and require approvals from a member of your executive team.
Our transformation is designed to ensure we thrive not just today, but well into the future—and you will hear more from our taskforce in the weeks and months ahead.
I am fully aware this will be a difficult process for many of you and your teams. We are going to have to make tough and uncomfortable decisions. But that is just what leadership requires, and I thank you in advance for stepping up during this important time. Our company has weathered many challenges during our 100-year history, and I have no doubt we will achieve our goals and create a more nimble company better suited to the environment of tomorrow.
Thank you again for your leadership.
-Bob
Disney plans hiring freeze, job cuts - CNBC
By: Investing.com | November 11, 2022
(Reuters) - Walt Disney (NYSE:DIS) Co is planning to freeze hiring and cut jobs, CNBC reported on Friday, citing a company memo.
Disney did not immediately respond to a Reuters request for comment.
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that's what they don't know, it's all about politics.
Disney's Post-Earnings Plunge Is a Buying Opportunity for Long-Term Investors
By: Investing.com | November 10, 2022
• After losing 42% this year, Disney is trading where it was during the depth of the pandemic crisis
• Disney is on a solid path to making its streaming business profitable
• The giant’s recent weakness offers an attractive buying opportunity for long-term investors
Global entertainment behemoth Walt Disney Company (NYSE:DIS) plunged 13% yesterday as investors digested a worse-than-expected earnings report on the back of a struggling direct-to-consumer division. It was the largest one-day slide since September 2001.
Losses at the division, which is the lynchpin of Disney’s growth strategy, more than doubled to $1.47 billion in its fiscal fourth quarter due to higher programming expenses and the cost of global expansion.
The sharp drop in Disney's shares wiped more than $20B in market value, pushing the stock where it traded during the pandemic crisis. While the company is rebounding by 3.6% today, year-to-date losses are still as high as 42%.
Disney Weekly Chart
Solid Path to Profitability
Does this extreme reaction open a buying opportunity for long-term investors? I believe it does. Disney, in my view, is on a solid path to making its streaming business profitable, and there are clear signs that it’s succeeding.
The division again beat expectations for streaming subscriber additions, signing up 12.1 million new customers at its Disney+ service alone for the fourth quarter. Total subscribers, including those for its Hulu and ESPN+ products, rose to almost 236M, competing for neck-to-neck with the industry leader Netflix (NASDAQ:NFLX) when it comes to subscriber numbers.
The plan to make streaming profitable in the next two years includes a combination of reducing costs, raising prices, and creating new ad-supported tiers that offer content at lower prices to consumers but also establish a new revenue stream. According to CEO Bob Chapek, the streaming business had reached peak losses in the quarter, and the business is still on track to reach profitability in fiscal 2024.
Disney Revenues Have Rebounded Strongly Since the Pandemic Slump
Another important point to note while investing in Disney is that the company’s legacy businesses are strongly recovering from the pandemic slump, and there is still a huge pent-up demand for its theme parks and other entertainment assets.
Profit at the Parks, Experiences, and Products division, including Disneyland, Walt Disney World, and four resorts in Europe and Asia, more than doubled to $1.51B due to higher attendance and increased guest spending. Management reiterated that park demand remains strong going forward with no signs of slowing consumer trends due to a weaker macro backdrop.
Disney Revenue Growth
Source: InvestingPro
Due to Disney’s global franchise and the cash-generation power of its legacy businesses, InvestingPro’s models, which value companies based on P/E or P/S multiples or terminal values, predict more than 50% upside potential for Disney stock from its current level.
Disney Fair Value
Source: InvestingPro
Some analysts also see value in DIS’s beaten-down stock, insisting that the company is poised to be a winner in the future of streaming. JPMorgan analyst Philip Cusick wrote in a Wednesday note:
“Our call on Disney has been that we will feel better about shares once consensus DTC OI losses catch up to our numbers — this seems much more likely after Tuesday’s call, and we like the stock into DTC improvements through F23,”
The firm reiterated its overweight rating but trimmed its price target to $135 from $145. Still, Cusick said the firm is “buying on weakness” in the stock.
UBS, which has a $122 piece target on DIS, said in a note to clients:
“While the macro environment presents challenges, we still view Disney as best positioned for the transition to a streaming future.”
Bottom Line
The post-earnings weakness in Disney stock suggests that investors are no longer keen to favor companies investing for growth. Their impatience makes sense, given the uncertain economic environment and the rush to exit growth trade.
But Disney, in my view, is a great stock to have in a long-term portfolio due to its massive global franchise and its fast-growing streaming business.
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Of course, among media companies, it's not just Disney $DIS having a tough time
By: Barchart | November 10, 2022
• Of course, among media companies, it's not just Disney $DIS having a tough time. The S&P 500 Media & Entertainment Index is headed for its worst year in AT LEAST the last 30 years.
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Disney's steep streaming costs push shares to 2-1/2-year low
By: Investing.com | November 9, 2022
(Reuters) - Shares in Walt Disney (NYSE:DIS) Co tumbled 12% to the lowest since March 2020 on Wednesday, as ballooning costs at the entertainment giant's fast-growing streaming division cast a shadow on strong subscriber additions.
Disney+ has attracted millions of subscribers and will launch an ad-supported tier next month, but executives' promise of profitability next year and forecast for operating results in the next quarter failed to impress.
The company missed analysts' expectations for fourth-quarter earnings, after a $1.5 billion loss in its streaming division.
Disney's streaming losses mount in the last 3 years https://graphics.reuters.com/DISNEY-RESULTS/byvrlogozve/chart.png
"Disney's streaming results are indicative of the tightrope it is walking," said Fred Boxa, associate director at consulting firm Arthur D. Little.
Finance chief Christine McCarthy, in a call with analysts on Tuesday, said the ad tier was not expected to meaningfully impact results until later in the financial year.
Subscriber growth in Disney+ was expected to accelerate in the second quarter, she added, a sign analysts said indicated a soft first quarter.
"As the platform aims for profitability, it's placing some of that burden on its user base in the form of price hikes that could stall growth during a time of economic pinch," said Mike Proulx, research director at Forrester.
A weaker-than-expected annual revenue growth forecast also dragged shares. Disney estimated a "high single-digit" percentage growth, while the Street was expecting 12%.
At least 13 brokerages cut their price targets on Disney stock.
McCarthy said streaming operating results would improve by at least $200 million in the first quarter of fiscal 2023, compared with the latest reported quarter.
"We expect that the 'achieving profitability' breakthrough will likely occur in the fourth quarter of fiscal 2024," Morningstar analyst Neil Macker said.
Shares have fallen more than 35% this year, compared with a 20% drop in the S&P 500, battered by a cautious outlook for ad sales and recessionary fears.
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Like I said Woke is Broke Sub 100's like I said 86.28 LOW
Rough day for Kiddie Grooming Perverts, but everyday should that they are not locked Up
Rough Day for Walt Disney (DIS) Stock Amid Streaming Costs
By: Schaeffer's Investment Research | November 9, 2022
• Streaming costs cut into Walt Disney's fiscal fourth-quarter results
• Analysts are cutting their price targets after the company's lackluster fiscal fourth-quarter results
Walt Disney Co (NYSE:DIS) stock is plummeting to its lowest levels since March of 2020, down 10.8% at $89.03 at last glance. The blue-chip entertainment giant poured billions into its streaming service, Disney+, in an effort to compete with Netflix (NFLX) and other services; and though the number of subscribers surpassed estimates this quarter, investors are focused on the $1.5 billion loss in the direct-to-consumer unit from the streaming costs, which contributed to Walt Disney's fiscal fourth quarter results miss.
A host of bear notes is weighing on the security as well. No fewer than 13 analysts slashed their price targets today, with the lowest from Cowen and Company to $94 from $124. The brokerage bunch is still heavily bullish, however, with 17 of the 21 in coverage carrying a "buy" or better rating on the stock, while the 12-month consensus price target of $130.68 sits at a 36.4% premium to current levels.
DIS options are flying off the shelves today, with overall volume running at eight times the intraday average. So far, 103,000 calls and 76,000 puts have crossed the tape. The weekly 11/11 88-strike put is the most popular, with new positions being opened there. It's also worth noting that the stock has landed on the short sell restricted (SSR) list today amid the negative price action.
Long-term pressure at the descending 180-day moving average has helped guide the shares lower over the past year, and today's bear gap has DIS breaking below the $90 level, which has provided support for pullbacks since July. Year-to-date, the equity is down 42.1%.
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Outstanding Shares: 1.69B
Institute Own: 63%
Address: 500 S. Buena Vista St
BURBANK, CA 91521-0001
Website: http://thewaltdisneycompany.com
Full Description:
The Walt Disney Company, incorporated on July 28, 1995, together with its subsidiaries, is a diversified worldwide entertainment company.
The Company operates in five business segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive.
The Company has a 63% effective ownership interest in Disneyland Paris, a 5,510-acre development located in Marne-la-Vallee, approximately 20 miles east of Paris,
France. The Company manages and has a 40% equity interest in Euro Disney S.C.A.
The Company owns a 48% interest in Hong Kong Disneyland Resort through Hongkong International Theme Parks Limited. On November 7, 2012,
the Company sold its 50% interest in ESPN STAR Sports (ESS). On November 7, 2012,
the Company sold its 50% equity interest in ESPN STAR Sports (ESS). On December 21, 2012, the Company acquired Lucasfilm Ltd. LLC.
Media Networks
The Media Networks segment includes international and domestic cable television networks, a domestic broadcast television network, television production operations,
domestic and international television distribution, domestic television stations, domestic broadcast radio networks and stations, and publishing and digital operations.
The Company’s cable networks include ESPN, Disney Channels Worldwide, ABC Family, and SOAPnet. The Company also operates the UTV/Bindass networks in India.
The cable networks group produces its own programs or acquires rights from third-parties to air programs on its networks.
ESPN is a multimedia, multinational sports entertainment company that operates eight 24-hour domestic television sports networks: ESPN, ESPN2, ESPNEWS,
ESPN Classic, ESPN Deportes (a Spanish language network), ESPNU (a network devoted to college sports), ESPN 3D, and the regionally focused Longhorn Network
(a network dedicated to The University of Texas athletics). Disney Channels Worldwide is a portfolio of over 100 entertainment channels and/
or channel feeds available in 35 languages and 167 countries/territories and includes Disney Channel, Disney Junior, Disney XD, Disney Cinemagic,
Hungama and Radio Disney. ABC Family is a United States television programming service that targets viewers in the 14-34 demographic.
ABC Family produces original live-action programming including the returning series The Secret Life of the American Teenager, Switched at Birth,
Melissa & Joey, as well as new original series Bunheads, Baby Daddy and the reality series Beverly Hills Nannies. SOAPnet offers same-day episodes of daytime dramas
and classic episodes of daytime dramas and primetime series. Programming includes daytime dramas such as Days of its Lives, General Hospital and The Young
and the Restless and classic episodes from series such as All My Children, One Life to Live, The O.C., One Tree Hill, Beverly Hills 90210,
The Gilmore Girls, Veronica Mars and Brothers & Sisters.
Parks and Resorts
The Company owns and operates the Walt Disney World Resort in Florida, the Disneyland Resort in California, Aulani, a Disney Resort & Spa in Hawaii,
the Disney Vacation Club, the Disney Cruise Line and Adventures by Disney. The Company manages and has effective ownership interests of 51% in
Disneyland Paris, 48% in Hong Kong Disneyland Resort and 43% in Shanghai Disney Resort. The Company also licenses the operations of the Tokyo Disney Resort in Japan.
The Company’s Walt Disney Imagineering unit designs and develops new theme park concepts and attractions as well as resort properties.
The Walt Disney World Resort is located 22 miles southwest of Orlando, Florida, on approximately 25,000 acres of owned land.
The resort includes theme parks (the Magic Kingdom, Epcot, Disney’s Hollywood Studios and Disney’s Animal Kingdom); hotels; vacation club properties;
a retail, dining and entertainment complex; a sports complex; conference centers; campgrounds; golf courses; water parks;
and other recreational facilities designed to attract visitors for an extended stay.
The Company owns 461 acres and has the rights under long-term lease for use of an additional 49 acres of land in Anaheim, California.
The Disneyland Resort includes two theme parks (Disneyland and Disney California Adventure), three hotels and Downtown Disney, a retail,
dining and entertainment complex designed to attract visitors for an extended stay. Tokyo Disney Resort is located on approximately 494 acres of land,
six miles east of downtown Tokyo, Japan. The resort includes two theme parks (Tokyo Disneyland and Tokyo DisneySea); three Disney-branded hotels;
six independently operated hotels; and a retail, dining and entertainment complex.
The Disney Vacation Club offers ownership interests in 11 resort facilities located at the Walt Disney World Resort; Disneyland Resort; Vero Beach, Florida;
Hilton Head Island, South Carolina; and Oahu, Hawaii. Disney Cruise Line, which operates out of ports in North America and Europe, is a vacation cruise line
that includes four ships: the Disney Magic, the Disney Wonder, the Disney Dream, and the Disney Fantasy. Adventures by Disney offers all-inclusive guided
vacation tour packages predominantly at non-Disney sites around the world. Walt Disney Imagineering provides master planning, real estate development,
attraction, entertainment and show design, engineering support, production support, project management and other development services, including
research and development for the Company’s operations.
Studio Entertainment
The Studio Entertainment segment produces and acquires live-action and animated motion pictures,
direct-to-video content, musical recordings and live stage plays. The Company distributes produced and acquired films
(including its film and television library) in the theatrical, home entertainment and television markets primarily under the Walt Disney Pictures, Pixar and Marvel banners.
The Company produces and distributes Indian movies worldwide through its UTV banner. The Company holds a 99% interest in UTV, film production studios
and film distributors in India, which produces and co-produces live-action and animated content. During fiscal year ended September 29, 2012 (fiscal 2012),
UTV releases included Rowdy Rathore and Barfi. The Company produces and distributes both live-action films and full-length animated films. In the domestic
market, the Company distributes home entertainment releases directly under each of its motion picture banners.
The Disney Music Group includes Walt Disney Records, Hollywood Records (including the Mammoth Records and Buena Vista Records labels), Lyric Street Records,
Buena Vista Concerts and Disney Music Publishing. Disney Theatrical Productions develops produces and licenses live entertainment events.
The Company has produced and licensed Broadway musicals around the world, including Beauty and the Beast, The Lion King, Elton John & Tim Rice’s Aida,
Mary Poppins (a coproduction with Cameron Mackintosh Ltd), Little Mermaid, Newsies, and TARZAN.
Consumer Products
The Consumer Products segment engages with among others licensees, publishers and retailers throughout the world who design, develop, publish,
promote and sell a range of products based on existing and new characters and other Company intellectual property through its Merchandise Licensing, Publishing
and Retail businesses. The Company’s merchandise licensing operations cover a diverse range of product categories, which include toys, apparel, home decor and f
urnishings, stationery, health and beauty, accessories, food, footwear, and consumer electronics. Disney Publishing Worldwide (DPW) creates, distributes,
licenses and publishes children’s books, magazines and digital products in multiple countries and languages based on
the Company’s Disney-, Pixar- and Marvel-branded franchises. The Company markets Disney- and Marvel-themed products through retail stores
operated under the Disney Store name and through Internet sites in North America (DisneyStore.com and Marvelstore.com),
Western Europe, and Japan. The Company owns and operates 216 stores in North America, 106 stores in Europe, and 47 stores in Japan.
Interactive
The Interactive Games business creates, develops, markets and distributes console and handheld, games worldwide, including 2012 titles,
such as Disney Universe and Brave. The Interactive Games business also produces online games, such as Disney’s Club Penguin and Disney Fairies Pixie Hollow,
interactive games for social networking websites such as Gardens of Time and Marvel Avengers Alliance, and games for smartphone platforms,
such as Where’s My Water and Where’s My Perry. Certain properties are also licensed to third-party video game publishers. Interactive Media develops,
publishes and distributes content for branded online services intended for kids and family entertainment through a portfolio of websites including Disney.com
and the Disney Family Network. Interactive Media also provides Website maintenance and design for other Company businesses.
Officers and Directors:
Executive Chairman of the Board, Chief Executive Officer: Robert A. Iger -
Mr. Robert A. Iger is Executive Chairman of the Board, Chief Executive Officer of Walt Disney Company. Prior to that time,
he served as President and Chief Executive Officer of the Company since 2005, having previously served as President and Chief Operating Officer since 2000
and as President of Walt Disney International and Chairman of the ABC Group from 1999 to 2000. From 1974 to 1998, Mr. Iger
held a series of increasingly responsible positions at ABC, Inc. and its predecessor Capital Cities/ABC, Inc., culminating in service as President of the
ABC Network Television Group from 1993 to 1994 and President and Chief Operating Officer of ABC, Inc. from 1994 to 1999.
He is a member of the Board of Directors of Apple, Inc., the Lincoln Center for the Performing Arts in New York City and the
National September 11 Memorial & Museum. Mr. Iger has been a Director of the Company since 2000. Mr. Iger contributes to the mix of experience
and qualifications the Board seeks to maintain primarily through his position as Chairman and Chief Executive Officer of the Company and his long
experience with the business of the Company. As Chairman and Chief Executive Officer and as a result of the experience he gained in 40 years at ABC and Disney,
Mr. Iger has an intimate knowledge of all aspects of the Company's business and close working relationships with all of the Company's senior executives.
Chief Financial Officer, Senior Executive Vice President, Treasureer: Christine M. McCarthy - Ms. Christine M. McCarthy is Chief Financial Officer,
Senior Executive Vice President, Treasurer of Walt Disney Company. She has been Executive Vice President - Corporate Finance and Real Estate since June 2005
and Treasurer since January 2000. Prior to her appointment as Executive Vice President, Corporate Finance and Real Estate,
Ms. McCarthy was Senior Vice President and Treasurer from January 2000 to June 2005. She is responsible for the company wide management
of a variety of functions including corporate finance, capital markets, financial risk management, pension and investments, risk management,
global cash management, and credit and collections, as well as the real estate organization, including facilities development, operations and portfolio management.
Prior to joining Disney, Ms. McCarthy was the Executive Vice President and Chief Financial Officer of Imperial Bancorp from 1997 to 1999. From 1981 to 1996,
she held various finance and planning positions at First Interstate Bancorp. In 1993, she was elected Executive Vice President in Finance.
Ms. McCarthy is a current Board member and former Chairman of the Finance Committee of Phoenix House of California, and is also a Governor of the UCLA Foundation
and a member of its Investment Committee. In 2002, she completed terms as the Treasurer and a Director of the Alumnae Association of Smith College,
and as a member of the Smith College Investment Committee. She also served as a Board member of the Los Angeles Philharmonic Association from 1998 to 2001.
In 2003 she became a Director of the Advisory Board of FM Global. Ms. McCarthy completed her Bachelor's Degree in Biology at Smith College,
where she received an award for excellence in botany, and later earned an MBA in Marketing and Finance from The Anderson School at UCLA.
Chief Operating Officer: Thomas O. Staggs - Mr. Thomas O. Staggs is Chief Operating Officer of Company. He was Chairman, Walt Disney Parks and
Resorts of The Walt Disney Company on January 1, 2010. Mr. Staggs was Chief Financial Officer, Senior Executive Vice President of The Walt Disney Company until January 1, 2010.
He joined Disney in 1990 as Manager of Strategic Planning and soon advanced through a series of positions of increased responsibility,
becoming Senior Vice President of Strategic Planning and Development in 1995 before becoming CFO and Executive Vice President in 1998. Born in Illinois,
he received a BS in business from University of Minnesota and an MBA from Stanford University. He worked in investment banking at Morgan Stanley & Co. before joining Disney.
Chief Human Resource Officer, Executive Vice President: Mary Jayne Parker - Ms. Mary Jayne Parker is Chief Human Resource Officer,
Executive Vice President of Walt Disney Company. She designated as an executive officer of the Company October 2, 2009.
Ms. Parker was previously Senior Vice President of Human Resources for Walt Disney Parks and Resorts from October 2005 to July 2007 and
Vice President Human Resources Administration for Walt Disney Parks and Resorts from March 2003 to October 2005. Previously,
Ms. Parker served as the Senior Vice President of Human Resources, Diversity and Inclusion for Walt Disney Parks and Resorts worldwide.
She also served as a member of the Walt Disney Parks and Resorts Executive Committee. Ms. Jayne began her Disney career in 1988,
developing the programs that became a part of the Disney Institute. Over the next 20 years, she took on positions of increasing responsibility,
including Manager and Director of Disney University, Director and Vice President of Organization Improvement and Vice President of Organization and Professional Development.
Prior to joining Disney, Jayne was a consultant with Wilson Learning Corporation, where she was responsible for designing and developing media-based programs and
management development seminars for education and assessment. During that time, products she developed were awarded first and second place by the
International Television & Video Association. Ms. Jayne is a member of the American Society for Training & Development (ASTD) and has held positions with the
ASTD Instructional Technology (IT) PPA Executive Committee. She has also assisted in the design of several ASTD National Conventions. In addition,
Ms. Jayne is a member of The Conference Board's Council for Division Leaders-Human Resources. Ms. Jayne holds degrees in communications and
education, a master's in instruction design and technology and an M.B.A., all from the University of Central Florida.
Senior Executive Vice President, General Counsel, Secretary: Alan N. Braveman: Mr. Alan N. Braverman is Senior Executive Vice President,
General Counsel and Secretary of Walt Disney Company. Mr. Braverman was named executive vice president and general counsel of
The Walt Disney Company in January, 2003. Mr. Braverman serves as the chief legal officer of the company and oversees its team of attorneys responsible for all aspects of
Disney's legal affairs around the world. Previously, Mr. Braverman was executive vice president and general counsel, ABC, Inc. and deputy general counsel,
The Walt Disney Company. In that capacity he oversaw the legal affairs of the ABC Broadcast Group, ESPN and Disney/ABC Cable, as well as labor relations.
In August 1996, prior to Disney's acquisition of ABC, Inc., Mr. Braverman was named senior vice president and general counsel, ABC, Inc. In October 1994,
he was promoted to vice president and general counsel. He joined ABC, Inc. in November 1993, as vice president and deputy general counsel. In his positions with ABC, Inc.
Mr. Braverman had broad responsibilities for the operation of the legal department, for government relations and for the Corporation's legal affairs.
Mr. Braverman joined Capital Cities/ABC, Inc. from the Washington, D.C. law firm of Wilmer, Cutler & Pickering, where he started in 1976. He became a partner in 1983,
specializing in complex commercial and administrative litigation.
Before joining Wilmer, Cutler & Pickering, Braverman was a law clerk to the
Honorable Thomas W. Pomeroy, Jr., Justice, Pennsylvania Supreme Court. Mr. Braverman received a B.A. degree from Brandeis University in 1969
and worked for two years as a Vista volunteer in Gary, Indiana. In 1975, he received a J.D. degree summa cum laude from Duquesne University in Pittsburgh,
where he was also editor-in-chief of the Law Review.
Senior Executive Vice President, Chief Strategy Officer: Kevin A. Mayer - Mr. Kevin A. Mayer is Senior Executive Vice President, Chief Strategy Officer of Walt Disney Company.
He previously was Partner and Head of the Global Media and Entertainment Practice of L.E.K. Consulting LLC, a consulting firm, from February 2002,
and Chairman and Chief Executive Officer of Clear Channel Interactive, a division of Clear Channel Worldwide, a media company, from September 2000 to December 2001.
Mr. Mayer rejoined Disney from L.E.K. Consulting LLC, where he was a partner and head of the Global Media and Entertainment practice.
Prior to L.E.K., Mr. Mayer held positions at interactive and Internet businesses.
As chairman and CEO of Clear Channel Interactive he managed all aspects of new media business, including content, sales, business and technology development,
and distribution. While at Clear Channel, Mr. Mayer launched local subscription ticketing services. He also served as president and CEO of Playboy.com, Inc.
where he established the overall strategy and financial plans for the interactive business. While at Disney, Mr. Mayer worked in both strategic planning and at Walt Disney Internet Group.
At the Internet group, he served as executive vice president and as such was responsible for the operations, business plans, creative direction and
distribution of Disney's popular Web sites, including ESPN.com and ABCNews.com. Mr. Mayer first joined Disney in 1993 as manager,
Strategic Planning where he spearheaded strategy and business development for all of Disney's interactive/Internet and television businesses worldwide.
Mr. Mayer received his M.B.A. from Harvard University in 1990, and holds a M.S.E.E. from San Diego State University and a B.S.M.E. from Massachusetts Institute of Technology.
UPDATE; 07-31-2018
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