DIS - The Walt Disney Company

NYSE - NYSE Delayed Price. Currency in USD
-1.78 (-1.26%)
At close: 4:02PM EDT
Stock chart is not supported by your current browser
Previous Close141.63
Bid139.95 x 800
Ask140.00 x 1400
Day's Range139.74 - 142.24
52 Week Range100.35 - 145.43
Avg. Volume9,691,179
Market Cap251.688B
Beta (3Y Monthly)0.70
PE Ratio (TTM)15.65
EPS (TTM)8.94
Earnings DateAug 6, 2019
Forward Dividend & Yield1.76 (1.24%)
Ex-Dividend Date2019-07-05
1y Target Est151.65
Trade prices are not sourced from all markets
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    Netflix’s Indian Ambitions Face a Wall of Cheaper Rivals

    (Bloomberg) -- Netflix Inc., whose shares plunged after it reported the worst drop in U.S. users since 2011, is looking for new subscriber growth in India, a rapidly expanding streaming market. Trouble is, so are a raft of ambitious local players with cut-rate programming packages.Already wrestling with global giants such as Walt Disney Co. and Amazon.com Inc., Netflix now also contends with broadcasters and Bollywood powerhouses allied with billionaire-backed wireless carriers, who are luring users with free offers or as low as 40 cents a month. That tactic has put them directly in the India growth path of the world’s largest paid online streaming service.The intense competition could derail Chief Executive Officer Reed Hastings’s goal of 100 million customers in India -- almost 25 times Netflix’s estimated subscriber base there this year. The world’s second-most populous country is a priority for the streaming service, which is effectively blocked in China. The second-quarter loss of 130,000 users in the U.S., reported Wednesday, makes winning in India all the more pressing.Netflix shares fell 10%, the most in three years, to close at $325.21 in New York trading Thursday. That knocked about $16.3 billion off its market value.With a growing number of smartphones and a surge in the use of broadband, India has become a battleground for streaming services. Cisco Systems Inc. has estimated the country will have 829 million smartphone users by 2022, from a projected half a billion this year.“We are seeing a nice, steady increase in engagement with Indian viewers that we think we can build on,” Netflix Chief Content Officer Ted Sarandos said on a call with analysts Wednesday. “Growth in that country is a marathon. We’re in it for the long haul.”India’s video-on-demand market could grow to $5 billion by 2023 from $500 million last year, estimates researcher Boston Consulting Group. Paying subscribers will probably rise to as many as 50 million, while users of advertising-supported video-on-demand will reach 600 million, BCG predicts.Netflix has amassed more than 150 million subscribers worldwide, giving it the largest paid customer base. The U.S., Brazil and Canada are three of its largest markets, while Australia is the company’s biggest success story in the Asia-Pacific region. India differs from most of these markets, however, in its population’s sensitivity to price.The Los Gatos, California-based firm has responded to competition in India by offering a mobile-only service at less than half the typical subscription price, and by raising spending on local content faster than in any other market.While it’s still lagging behind Amazon Prime and Disney’s Hotstar, the price cuts are helping it outpace the growth of its biggest rivals, while raising questions about sustainability and margins. Hotstar built its base by streaming cricket matches that are wildly popular in the former British colony.Netflix will probably almost triple subscribers in India this year to 4.1 million, within striking distance of Amazon Prime’s 4.4 million, according to estimates by researcher IHS Markit. That’s faster than Amazon or Hotstar Premium, two of Netflix’s biggest competitors. Some other estimates put Netflix’s base in India at between 1 million and 2 million. The company doesn’t provide data for individual markets.“Netflix is in a land grab to capture as many subscribers as possible, whatever the price,” said Michael Pachter, a managing director at Wedbush Securities Inc. “The less they charge, the more cash they are likely to burn.”The company spooked investors Wednesday with a report that it lost subscribers in the U.S. and signed up only 2.8 million internationally in the three months ended June, roughly half its own prediction.It also reported its 20th quarter of negative free cash flow as it spends on adding content and replacing series and films being pulled from its platforms by competitors like Disney.While Netflix is speeding up its investment, Indian rivals including Zee Entertainment Enterprises Ltd. and Balaji Telefilms Ltd. are betting on bundling their content with mobile phone services. The TV network and Bollywood producer are allying with billionaire Mukesh Ambani’s Jio wireless service and Bharti Airtel Ltd., two of the country’s three biggest carriers, to offer decades of content to subscribers.Free AccessZee, parent of the country’s largest private broadcast network, offers movies, exclusive TV content and more than 90 live channels on its ZEE5 platform with content across 12 languages for as little as 70 cents a month. Partial access to the platform is free to subscribers of mobile phone carrier Bharti Airtel, controlled by billionaire Sunil Mittal. Users of Airtel’s plans priced at $7.25-a-month or more get full access to ZEE5 free.Ambani’s Reliance Jio Infocomm Ltd., which elbowed its way into the country’s mobile phone business three years ago with free calling and low-priced data services, has jumped into film and TV streaming, including a tie-up with Balaji Telefilms.Sunil Lulla, chief executive officer of Balaji Telefilms, said the company’s service ALTBalaji is focused on producing exclusive content in Hindi, the country’s most-used language.Other local entrants in India’s OTT, or “over-the-top,” market include Disney’s Hulu, Sony Corp.’s Sony LIV, Network 18 Media & Investments Ltd.’s Voot and Bollywood filmmaker Eros International Plc.’s Eros Now. *Mobile-only subscriptionSource: Counterpoint Technology Market ResearchNetflix’s global rival Amazon is also counting on India for growth and is prepared to take time to draw users.“We have a very long-term view for India, with a billion film-crazy people,” said Gaurav Gandhi, director and head of business for Amazon Prime Video, India. “In the next four to five years, there will be more screens connected to the internet and we are looking at distributing across all platforms with personalized and quality video content at affordable prices.”Pricing will also be crucial for Netflix. After introducing a promotional offer of about $3.65 a month for mobile-only users, Netflix decided to make the lower price permanent as “an opportunity to broaden access to the service,” Greg Peters, chief product officer, said Wednesday.Torrent Downloads“Pricing is going to be the biggest challenge,” said Hanish Bhatia, senior analyst at Counterpoint. “Indian users have not accepted the idea of paying for content yet. Two to three years back, everybody relied on torrent,” the free protocol that lets users share and download films and TV shows without paying for them, Bhatia said.Netflix didn’t disclose how much it’s spending on local content in India. It did announce the addition of five series, two of which are being produced by superstars Shah Rukh Khan and Anushka Sharma.“Netflix wants to have one big original, almost like a new Bollywood movie, coming out every month,” said Mihir Shah, vice president (India) at Media Partners Asia, a consulting firm. “In India, people pay for Bollywood. Netflix is hoping that if people are willing to pay $10 to watch a movie together as a family, they will also subscribe.”(Adds names of more local rivals in 19th paragraph)To contact the reporters on this story: P R Sanjai in Mumbai at psanjai@bloomberg.net;Lucas Shaw in Los Angeles at lshaw31@bloomberg.net;Sheryl Tian Tong Lee in Hong Kong at slee1905@bloomberg.netTo contact the editors responsible for this story: Sam Nagarajan at samnagarajan@bloomberg.net, ;Nick Turner at nturner7@bloomberg.net, Dave McCombs, Jodi SchneiderFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Timesyesterday

    How Disney became entertainment’s apex predator

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  • Benzinga2 days ago

    'Lion King' Release Might Be A Good Time To Look At Disney's Stock

    Walt Disney Co’s (NYSE: DIS) release of "The Lion King" this weekend is expected to crack $150 million in U.S. box office revenue, with some estimates calling for $180 million. Directed by John Favreau, the new version of "The Lion King" is scheduled for release Friday. The film uses photorealistic computer-generated animation to recreate the classic "Lion King" of 1994.

  • Dow Jones Today: An Impressive Comeback
    InvestorPlace2 days ago

    Dow Jones Today: An Impressive Comeback

    Stocks started Thursday in the red due in large part to a weak earnings report from Netflix (NASDAQ:NFLX). Shares of the streaming media giant plunged nearly 11% on volume that was more than quadruple the daily average. This after the company said it added just 2.83 million subscribers in the second quarter, well below expectations of 4.8 million.Source: Shutterstock Netflix investors are fretting that Dow component Walt Disney (NYSE:DIS) will pilfer market share from Netflix as that company ramps up its own stream offerings. Interestingly, shares of Disney fell 0.67% today.Even with those trouble spots, the Nasdaq Composite, of which Netflix is a member, gained 0.27% while the S&P 500 added 0.36%. The Dow Jones Industrial Average rose 0.01%.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks Top Investors Are Buying Now Before getting into what happened today, I'll take this opportunity to remind readers that Microsoft (NASDAQ:MSFT) reports after the bell Thursday. The Dow component, up 0.11% today, is expected to post adjusted earnings per share of $1.21 on revenue of $32.8 billion. Microsoft's report will go a long way in determining the fate of markets on Friday. Big Blue: IBM SurgesShares of International Business Machines (NYSE:IBM) surged 4.59% on more than triple the daily average after the Dow component posted second-quarter net income of $2.5 billion, or $2.81 a share, up from $2.4 billion, or $2.61 a share, last year. Revenue fell to $19.16 billion from $20 billion. Analysts expected IBM to earn $3.08 a share on revenue of $19.17 billion.While revenue dipped and missed expectations, IBM was able to rally thanks to its cloud computing revenue. Revenue for the quarter was $5.65 billion, beating analysts' expectations calling for $5.55 billion.IBM said it still expects to earn at least $13.90 per share this year. Charge ThisShares of American Express (NYSE:AXP) gained 1.03%, good for the second-best performance in the Dow after IBM. The credit card giant ascended to another record high ahead of its earnings report, due out Friday before the opening bell.The company is expected to report second-quarter earnings of $2.05 per share on revenue of $2.94 billion. Shares of American Express are up nearly 36% year-to-date, making the stock one of the Dow's best performers and one of the best-performing names among large-cap financial services names.With that came some unusual put buying in stock today, indicating some traders are bracing for a post-earnings decline or, at the very least, are hedging long stock positions in AXP. Dialing Up 5GApple (NASDAQ:AAPL) rose 1.14% on some encouraging analyst chatter regarding the company's position in the 5G race."Apple's near-term iPhone problem is mix," said Raymond James analyst Chris Caso in a note. "Apple is selling a much larger mix of legacy iPhones than in the past. The reason, in our view, is twofold: higher prices for flagship phones, coupled with the fact that there's virtually nothing a user can do with an iPhone XS that they can't do with a 6s … think the higher bandwidth and improved connectivity of 5G will provide a more compelling upgrade."Caso upgraded Apple to "outperform" with a $250 price target. Dow Jones Bottom LineWith market participants focusing on earnings, at least for now, some are wondering what the fate of a Federal Reserve rate cut will be. Between better-than-expected earnings and some strong economic data, the Fed may not feel the need to cut borrowing costs this month or anytime soon.On Thursday, the Philadelphia Federal Reserve said its regional manufacturing survey registered at 21.8 in June, the best reading this year, and well above estimates calling for a reading of 5. The Fed is, in its own words, data dependent, and the better the data, the less likely a rate cut becomes.Todd Shriber does not own any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Stocks Top Investors Are Buying Now * The 10 Best Cryptocurrencies to Keep on Your Radar * 7 Marijuana Penny Stocks That Could Triple (But You Won't Make Money) The post Dow Jones Today: An Impressive Comeback appeared first on InvestorPlace.

  • Netflix Suffers Worst Rout Since 2016 on Drop in U.S. Users
    Bloomberg2 days ago

    Netflix Suffers Worst Rout Since 2016 on Drop in U.S. Users

    (Bloomberg) -- Netflix Inc. shocked investors by reporting a drop in U.S. customers and much slower growth overseas, raising fears that the streaming giant is losing momentum just as competitors prepare to pounce.The shares plunged 10% to $325.21 at the close in New York, the worst one-day drop in three years, after the company reported a loss of 130,000 customers in the U.S. Netflix blamed higher prices and a weak slate of TV shows. It signed up 2.8 million subscribers internationally in the period, roughly half what the company predicted.“Netflix has a difficult road ahead, with looming competition and the removal of popular content,” said EMarketer Inc. analyst Eric Haggstrom. But a stronger lineup of new shows in the current quarter could help attract former subscribers, he said.The quarter represents the biggest black eye for Netflix since 2011, when the company split its DVD-by-mail business from its streaming business. That move raised prices for its customers, and resulted in the loss of more than 800,000 subscribers in the U.S. The company had planned to call the DVD service Qwikster, but it backpedaled on the plan after investors and customers scoffed at the idea.Netflix said the miss is a one-time blip rather than a long-term problem. The second quarter has typically been its weakest time of year: The company missed its forecast during the period in three of the past four years.Netflix looks to add 7 million subscribers in the current quarter, thanks in part to the return of top shows “Stranger Things” and “Orange Is the New Black.”“Our position is excellent,” Chief Executive Officer Reed Hastings said during a videoconference call Wednesday. “We’re building amazing capacity for content. Our product has never been in better shape.”Several analysts agreed that the second-quarter disappointment should be only a temporary hiccup for Netflix. Investors should “aggressively buy the stock” on weakness, especially below $325 a share, Loop Capital said.Heavy SpendingFor now, the second-quarter shortfall is renewing investor concern about the company’s heavy program spending and low profitability. Netflix shelled out more than $3 billion on programming in the quarter and another $600 million to market its shows. The company spent $594 million more than it took in and will need to raise money to fund programming.Investors had been forgiving about the spending and the debt -- so long as customers grew at record rates. But the loss of subscribers in the U.S. was the first since the Qwikster debacle, and it suggests Netflix may be running into price resistance or the limits of the addressable domestic market. The company has forecast it can reach as much as 90 million customers in the U.S., compared with 60.1 million currently.Overseas SlowdownInternational results flagged too, with the company missing its own forecast of 4.7 million new subscribers. Europe, Latin America and Asia have been the primary drivers of Netflix’s customer acquisition in recent years, and growth must be sustained if the company is to justify its high valuation.Netflix is introducing a cheaper, mobile-only package in India to attract customers in a big market with price-sensitive customers.Analysts expect the company to have a blockbuster second half because of a heavy release schedule that includes a new season of “The Crown” and movies by directors Martin Scorsese and Michael Bay. Even after the slowdown last quarter, Netflix still thinks it can have its best year of customer growth in 2019.But competition is coming. Walt Disney Co. and Apple Inc. plan to introduce streaming services this year, while offerings from Comcast Corp. and AT&T Inc. arrive in 2020. Those services may not steal users from Netflix, but they will make future growth harder, according to Michael Pachter, an analyst with Wedbush Securities.Just a Preview?“We saw a preview of next year with this quarter,” Pachter said in an interview with Bloomberg Television. “Next year, they’ll have a couple quarters where they’ll lose subscribers.”Another challenge: Competitors are taking back rights to programs that have been popular on Netflix, including “Friends” and “The Office,” to use for their own services. That will force Netflix to rely even more on its original productions.Those efforts have largely been successful. Its shows just earned 117 nominations for the 2019 Emmy awards. But reruns of old shows still constitute the majority of viewing.The slowdown in users overshadowed the company’s quarterly financial results. Earnings for the second quarter fell to 60 cents a share, but beat analysts’ estimates of 56 cents. Sales grew 26% to $4.92 billion, compared with projections of $4.93 billion.The stock had been up 35% for the year at the close of regular trading, nearly double the gain of the S&P 500. The decline spread to related stocks such as Roku Inc., which makes set-top boxes that deliver the streaming service. Its shares fell as much as 2.5%, but closed little changed.(Updates with closing prices)To contact the reporter on this story: Lucas Shaw in Los Angeles at lshaw31@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Rob GolumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Barrons.com2 days ago

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  • MarketWatch2 days ago

    These 3 stocks deliver a more than 100-point drag on the Dow in midday action

    The Dow Jones Industrial Average midday Thursday was being yanked to session lows by a trio of components. Shares of UnitedHealth Group Inc. , Boeing Co. , and Walt Disney Co. were exacting a powerful 100-point drag on the blue-chip index, representing the lion's share of the modest declines in the price-weighted benchmark. The Dow was down 135 points, or 0.5%, at 27,089, while the S&P 500 index was sinking 0.3% lower at 2,975, with the Nasdaq Composite Index 0.5% lower at 8,143. A $1 move in any one of the Dow's components equates to a roughly 6.8-point swing in the index. UnitedHealth shares were down $6.75 at $259.90 a share, a decline of 2.5%, those for Boeing were off $5.83 to reach $363.57, a drop of 1.6%, while Disney's shares were edging 1.4% lower, off $2.03 at $140.52.

  • Netflix, Welcome to Ratings Hell
    Bloomberg2 days ago

    Netflix, Welcome to Ratings Hell

    (Bloomberg Opinion) -- The TV-network giants went through ratings hell. It’s time for Netflix’s own version of that. After the market closed on Wednesday, Netflix Inc. reported that it lost 126,000 U.S. streaming customers during the second quarter, which appears to be the first time it’s ever done so. Global membership growth was also well short of management’s own expectations, with 2.7 million net sign-ups versus an anticipated 5 million. The company blamed its uninspiring results on subscription price increases and a less-enticing mix of movies and TV series. While it signaled that “more typical growth” and better content is in store, shares of Netflix sold off 12%, erasing $17 billion from its market value. This marks a turning point in how investors view the future of Netflix vis-a-vis its biggest emerging threats, Walt Disney Co. and AT&T Inc. In recent years, the popularity of Netflix has been a chief reason for the accelerated drop in cable subscriptions and viewers tuning out traditional live TV. As investors were entranced by the video-streaming app’s rapid growth and awarded the company an absurdly rich valuation, companies such as Disney and Time Warner (now called WarnerMedia, a unit of AT&T) were punished by shareholders for their audience shrinkage.Those media giants’ audiences are still shrinking (see next chart), and their businesses still rely on TV commercials and cable fees to drive profit. But they have managed to change the narrative so that more attention is paid to their own streaming opportunities. Nov. 12 is the launch date for Disney+, which Disney plans to bundle with ESPN+ and Hulu for fans who want all three services. Shortly thereafter, AT&T’s WarnerMedia will introduce HBO Max, a souped-up version of the HBO app that will contain Turner network programs and Warner Bros. films. Given the relatively low price of Disney+ at $6.99 a month and the quality of Disney and HBO/Warner content, both products have the potential to lure a considerable number of streamers away from Netflix.(1)This means Netflix investors will become even more obsessed with its quarterly subscriber count. They’ll also want more real data as far as how many people are watching Netflix’s costly originals – much in the way investors have picked apart the traditional media companies’ Nielsen viewership ratings. By now you’ve heard that “Friends” is moving to AT&T’s HBO Max next year, and that Comcast Corp.’s NBCUniversal is reclaiming “The Office” in 2021. Those are the most-watched shows on Netflix, so their expiration dates create a sense of foreboding.As my colleague Shira Ovide alluded to Wednesday, Netflix may be drifting too far from what it made it so attractive in the first place: being a constant bazaar of binge-able video entertainment. By blaming its own content slate for last quarter’s weak showing, Netflix is saying that it’s not all that different from HBO, which is dependent on a select few hit programs and goes through lulls when there aren’t new episodes. I’ve written that Netflix has the benefit of already being the “base” streaming service for many people, but that could change if Netflix becomes less of a one-stop shop and other services seem to offer more bang for your buck. Disney+ launch day is just four months away. And the closer we get to D-Day, the more skittish Netflix shareholders will be. Cable-network operators know all too well what that’s like. (1) Apple TV+ is also coming later this year to challenge Netflix.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering deals, Berkshire Hathaway Inc., media and telecommunications. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.