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Disney gives new details on upcoming film releases

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Yahoo Finance’s Jared Blikre and Alexis Christoforous discuss Disney’s latest news on film releases, reopening trades, and oil prices entering correction territory.

Video Transcript

ALEXIS CHRISTOFOROUS: Now I want to get to some breaking news on Disney. Jared Blikre here to fill us in. It looks like they're delaying the release of five new films and a couple of highly anticipated movies are going to hit their streaming service, Disney Plus, first.

JARED BLIKRE: Yeah, or at least at the same time that they hit the theaters, and that's not good news for theaters. They've really been banking on the reopening and also the ability to lure in people to watch a movie on an exclusive basis, even if it's for a short period of time. But here are the details, and by the way, even Disney stock is down on this move. And I'll get to the details in a second. Let's just check out this chart here.

Here was the release time approximately. You could see it kind of of went sideways and then down. But you take a look at what's happened to some other stock. AMC was already down big before this. It crashed on this news. So it's down 16% intraday. We're seeing Cinemark down 6%, also some of the foreign operators.

But here are the details on Disney. So "Black Widow"-- we all know this is that Scarlett Johansson film-- that's going to come out on July 9 in both Disney Plus and in theaters. "Cruella," that's another title going to be released May 28 in theaters and online. And both of the films are going to be available for an additional fee to Disney Plus subscribers. So even if you have the service, not surprising you're going to have to pay a little bit more money. But you will be able to enjoy the titles from the comfort of your home.

I think it's also worthwhile checking out the entire travel space today because that is under a significant amount of pressure, as Germany extends their closing, as we get more news pouring out of other jurisdictions like Brazil, having problems there. You can see in the upper right now, Royal Caribbean, that's down 6%. Live Nation, the ticket company, that's down 3%. We can see also United Airlines. That's down nearly 7%. So is American. So, tough day for the reopening trade overall, Alexis.

ALEXIS CHRISTOFOROUS: Yeah, sort of that cascading effect there. All right, before we let you go, got to talk oil. It looks like oil prices now in correction territory after another 6% drop.

JARED BLIKRE: That's right, and the losses keep on coming here. The crude oil trade and the electronic market now down 6 and 1/2%. And we can see, haven't seen these prices in, looks like, over a month. It looks like about seven to eight weeks here. Now we do have some support at various levels. But I think the key one that we just broke definitively, because we settled below it, is at $59 to $60 per barrel.

So focusing on that, we also want to check out how energy stocks are doing. They are still mired in the red, and the losses now accelerating. We did have Chevron, I believe, in the green the last time we talked about it 30 minutes ago. It's now down 20 basis points. Exxon off about 84 basis points, but the biggest losers of the day are these foreign majors, Royal Dutch Shell and BP each down nearly 5%.

ALEXIS CHRISTOFOROUS: All right, thanks a lot, Jared. And we are near our lows of the day. The Dow Jones Industrial average now down nearly 200 points, the S&P 500 off about 16, and the NASDAQ now down more than 90 points.