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Nov. 12, 2019, 11:48 a.m. EST

Disney's stock surges to pace the Dow's gainers on Disney+ launch day

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By Tomi Kilgore

Shares of Walt Disney Co. /zigman2/quotes/203410047/composite DIS -0.33% surged 1.7% in midday trading, to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA +0.12% gainers, despite reports of some glitches in the media and entertainment giant's newly launched Disney+ streaming service. Bank of America Merrill Lynch analyst Jessica Reif Ehrlich reiterated her buy rating and $168 stock price target, which is 21% above current levels. In a note titled "Going in big and hot: The Disney+ launch in perspective," Ehrlich said the Disney+ launch makes her "incrementally more bullish on [Disney's] monetization prospects beyond the legacy Pay TV model." Ehrlich raised her Disney+ subscriber forecast to 90+ million by fiscal 2024 from 60 million. Disney's stock's price gain of $2.38 was adding 16 points to the Dow's price, which was up 47 points. Meanwhile, shares of streaming rivals Netflix Inc. /zigman2/quotes/202353025/composite NFLX +0.28% slipped 0.6% and Apple Inc. /zigman2/quotes/202934861/composite AAPL -0.09% eased less than 0.1%.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 130.53
-0.43 -0.33%
Volume: 6.51M
Aug. 14, 2020 4:02p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$238.15 billion
Rev. per Employee
$295,532
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,931.02
+34.30 +0.12%
Volume: 276.73M
Aug. 14, 2020 5:11p
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/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 482.68
+1.35 +0.28%
Volume: 2.94M
Aug. 14, 2020 4:00p
P/E Ratio
81.43
Dividend Yield
N/A
Market Cap
$209.69 billion
Rev. per Employee
$2.22M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 459.63
-0.41 -0.09%
Volume: 41.37M
Aug. 14, 2020 4:00p
P/E Ratio
34.93
Dividend Yield
0.71%
Market Cap
$1932.76 billion
Rev. per Employee
$1.98M
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