Active Stocks: The Walt Disney Company [NYSE: DIS] is slightly in the red in pre-market trading. At the moment, it down by 0.17% pulling back from Wednesday’s trading session when the company closed with gains of 7.32%. Disney’s positive sentiment is driven by news about Disney plus subscription numbers, among a host of other news. Yesterday, the company announced that it had hit 10 million subscribers on Disney+. That’s much higher than the analysts’ projections of 8 million subscribers by the end of the year.
There is also positive news about the upcoming series on Disney+. Yesterday, Jon Favreau creator of Mandalorian, teased about star war surprises. Speaking at a red-carpet fan event, he promised fans more surprises in the characters. This is a big deal for Disney+ subscription numbers going into the future.
Disney also has some positive news with regards to the upcoming Star Wars theme park ride that will open on the 5th of December. According to Biz Journal, Disney CEO Bob Iger asked the team of Imagineers working on this project to go beyond anything they have done in the past.
Looking at the price action, Disney appears to be in a breakout, reflecting the positive news it has at the moment. In Wednesday’s session, the stock rallied, and on high volumes, with 46.49 million shares traded. If this momentum sustains, DIS could be up for more gains in the near term, after pushing past a key resistance level in Wednesday’s trading session.
Besides, the company’s news, the overall market outlook could impact on DIS. The markets are still absorbing on mixed data from Asian markets that are a reflection of the China-U.S trade war.
About The Walt Disney Company
The Walt Disney Company is a global entertainment company. The company operates cable programming businesses, video streaming, parks and resorts among other businesses. It has its headquarters in Burbank, California.