In the stocks game, there will be winners, there will be losers, and until the dust settles, there will surely be casualties.
Walt Disney (DIS) stock fell in after-hours trading yesterday, while quarterly results were hammered by a decline in theme-park attendance, spend on new streaming services, declines in viewership at its networks, in addition to an unsuccessful movie, which was inherited as part of the $71 billion acquisition of Fox assets.
Investors and buyers of Netflix stock will be biting their nails this morning, while sellers of the same stocks will be punching the air, as the streaming giant says subscribers will fall 8% in Q2, citing rising competition and higher content costs.
The film could be worth as much as 23 cents in earnings per share for Disney. BIG returns!