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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 -0.0057% surged 1.7% in midday trading, to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA -0.62% 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 +1.20% slipped 0.6% and Apple Inc. /zigman2/quotes/202934861/composite AAPL +1.26% eased less than 0.1%.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 174.65
-0.01 -0.0057%
Volume: 8.91M
June 17, 2021 4:03p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$317.35 billion
Rev. per Employee
$320,813
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
33,823.45
-210.22 -0.62%
Volume: 355.92M
June 17, 2021 5:15p
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/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 498.34
+5.93 +1.20%
Volume: 3.20M
June 17, 2021 4:00p
P/E Ratio
60.34
Dividend Yield
N/A
Market Cap
$218.34 billion
Rev. per Employee
$2.66M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 131.79
+1.64 +1.26%
Volume: 96.71M
June 17, 2021 4:00p
P/E Ratio
29.57
Dividend Yield
0.67%
Market Cap
$2171.90 billion
Rev. per Employee
$1.86M
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