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EXCLUSIVE: Major layoffs are underway Monday the Walt Disney Company, with several hundred employees impacted globally, Deadline has learned. The bulk of them are across divisions of Disney Entertainment, including marketing for both film and television as well as television publicity, casting and development. Also affected are Disney's corporate financial operations.
Shares of Walt Disney (DIS -0.54%) had a May to remember. The stock soared 24% last month, fueled initially by a blowout quarterly report and unexpected news about a new international theme park in the works.
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Disney is poised for a breakout above long-term resistance, supported by strong Q2 results and robust growth across core business segments. Recent earnings showed 7% revenue growth, 15% operating income increase, and a significant rebound in EPS, reflecting operational improvements and cost corrections. Major expansion plans in parks, experiences, and gaming underscore Disney's growth strategy.
Consumer confidence rebounds in May. Zacks highlights DIS, NFLX, CHTR, ROKU and RBLX as top buy picks in the consumer discretionary space.
Disney's profit is driven more by its parks and experiences segment than by movie blockbusters. Movie results are a relatively minor contributor to Disney's overall profits and revenue. The company's strategy of combining streaming and linear content into a common business unit enhances its ability to monetize intellectual property beyond films.
CNBC's Jim Cramer says Disney's stock still has plenty of upside, fueled by the blockbuster success of its latest live-action remake, Lilo & Stitch. After a string of box office disappointments, the film's surprise performance is breathing new life into the entertainment giant.
Nielsen's latest report serves as another wake-up call that YouTube is rapidly gaining ground in the TV landscape.
DIS, AGNC, ANET, AZO and APP stand out with high ROE as bond yields spike and markets wobble amid U.S. deficit concerns.