Walt Disney Co (DIS)

[MiamiGent]

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!)