[NEW YORK] Walt Disney Co has been counting on success at its new Disney+ streaming service to offset some of the slowdown seen at its theme park division, but the odds may have suddenly grown longer after rival Netflix forecast that consumers' desire for new entertainment subscription plans is cooling off. Read more at The Business Times.
A large chunk of the company's revenue locked down in hotels, cruises and theme parks due to the worldwide Covid-19 crisis, according to Gerber Kawasaki investment adviser Nick Licouris.
Disney is"in a tough situation" with a large chunk of the company's revenue locked down in hotels, cruises and theme parks due to the worldwide Covid-19 crisis, said Gerber Kawasaki investment adviser Nick Licouris. Management just has"to weather this one out until it's safe to get parks back up," Mr Licouris said in an email.
Disney dropped 0.7 per cent on Friday, extending its year-to-date decline to 18 per cent as investors focus on a long lead time for any recovery in its park business. On Thursday, Cowen cut its investment rating on Disney to market perform from outperform given the"prolonged impact" of the pandemic on its park and film businesses. The downgrade followed an announcement this week by Disney that was again closing its Hong Kong Disneyland Park due to a local resurgence in coronavirus cases.
Outside of streaming, Mr Licouris notes that Disney"isn't doing so well in this type of stay-at-home environment," dominated by social distancing orders and quarantines. One bright spot is Disney's ESPN offerings, where Mr Licouris sees an eventual opportunity for sports to"slow the haemorrhaging" seen in declining cable subscribers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Suspect is arrested in grisly New York killing of Bangladeshi tech CEONEW YORK (NYTIMES) - The personal assistant of a young tech entrepreneur who was found decapitated and dismembered in his Manhattan apartment this week was arrested early on Friday (July 17) and is expected to be charged in the grisly killing, according to two officials briefed on the matter.. Read more at straitstimes.com.
Read more »
Tech entrepreneur slain in New York died of multiple stab woundsNEW YORK (REUTERS) - A technology entrepreneur found slain in his New York City apartment died of multiple stab wounds, the city's medical examiner said on Thursday (July 16).. Read more at straitstimes.com.
Read more »
New York to invest US$750 million to expand electric-vehicle infrastructureNew York Governor Andrew Cuomo on Thursday announced an investment program that would allocate US$750 million to build charging stations and other ...
Read more »
New York police charge assistant with decapitating tech entrepreneurNEW YORK (AFP) - The assistant of a wealthy young technology entrepreneur who was found decapitated in his luxury New York apartment this week was charged with his murder on Friday (July 17), police said.. Read more at straitstimes.com.
Read more »
New York City can start phase 4 reopening on Monday, governor Cuomo saysNEW YORK (BLOOMBERG) - New York City, the epicentre of the US outbreak, can start the fourth and final phase of reopening on Monday (July 20), governor Andrew Cuomo said.. Read more at straitstimes.com.
Read more »