Disney’s Stock Advance Could Be Just The Beginning
Walt Disney Co. (DIS) shares are surging today by over 6 percent to about $112, as tax reform moves one step closer to reality. Meanwhile, renewed speculation that the company could make a play for 21st Century Fox (FOX) assets ignited a bid in the stock.
A corporate tax cut could boost Disney’s earnings estimates for fiscal 2018. Should the new tax rate take effect in 2018, it could fuel earnings growth potential of nearly 25 percent versus 2017.
Meanwhile, the addition of Fox assets to Disney’s content platform could create a media and movie studio juggernaut when the company launches its new direct-to-consumer streaming product, helping to ignite top- line revenue growth.
Why Walt Disney Co Stock Popped Monday
Shares of media and entertainment giant Walt Disney (NYSE:DIS) jumped as much as 7.1% on Monday, following a report from The Wall Street Journal this weekend that the company has “re-engaged in discussions” with Twenty-First Century Fox (NASDAQ:FOX) (NASDAQ:FOXA) about purchasing some of its assets.
The stock is up 5.1% at the time of this writing.
Fox Favors Disney as Buyer for Studio, Media Assets
21st Century Fox Inc., the global film and TV company controlled by the Murdoch family, would prefer to sell some assets to Walt Disney Co. because it’s a better strategic fit and presents fewer regulatory hurdles, people familiar with the matter said.
The family is holding talks with Disney, as well as Comcast Corp., about combining certain media businesses with the potential buyers, said the people, who asked not to be identified because the discussions are private.
Bitcoin Futures Trading To Start Even Sooner; These Brokers Are Ready
SPY ETF continues heavy volume, short-term distribution likely.
Some of tech’s biggest names have created a fund to invest in startups in small towns
How AI Will Invade Every Corner of Wall Street
Among the Tax Bill’s Biggest Losers: Blue State Taxpayers Who Earn More Than $200,000
Starbucks opened a super-sized gourmet location in China — here’s what it looks like
Semiconductor Stocks Are Under Heavy Selling Pressure
Stock Market Sector Performance
Stocks to Trade | Tuesday Edition 12-5-17
Bullish Momentum: ESRX, FL, CBS, TGT, AAPL, DIS, MCK, LOW, UNP, KSS, JWN, BBY, ROST
Bearish Momentum: ttwo, shop, adbe, pypl, avda, atvi, fslr, mu, ea, cc, ma, amat, crm, lrcx, v, baba, wdc, aaba, bidu, fb, nflx
Bullish Order Flow: ESRX, DIS, LOW, UNP, KSS, DLTR, DG, ROST, HD, BA, COST, LB, TJX, JPM, CVX, DE, MAR, ACN, TSCO, CAT, WMT, HON, VLO, MCD, UNH, ROKU
Bearish Order Flow: momo, wdc, ea, agn, eqt
Double Normal Volume: mu, cvs, nvda, sq, pypl, aet, v, dis, xnet, low, momo, atvi, crm, unp, esrx, ma, ttwo, ea, adbe, lrcx, tsco
Inside Days: twtr, ntnx, jnpr, jci, cop, myl, eqt, hes, abbv, cog, ostk, apa, utx, lvs