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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 +0.15% surged 1.7% in midday trading, to pace the Dow Jones Industrial Average's /zigman2/quotes/210598065/realtime DJIA +1.22% 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 +1.48% slipped 0.6% and Apple Inc. /zigman2/quotes/202934861/composite AAPL +1.93% eased less than 0.1%.

/zigman2/quotes/203410047/composite
US : U.S.: NYSE
$ 147.66
+0.22 +0.15%
Volume: 7.09M
Dec. 6, 2019 6:30p
P/E Ratio
21.22
Dividend Yield
1.19%
Market Cap
$266.14 billion
Rev. per Employee
$295,532
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
28,015.06
+337.27 +1.22%
Volume: 224.83M
Dec. 6, 2019 5:07p
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/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 307.35
+4.49 +1.48%
Volume: 4.46M
Dec. 6, 2019 4:00p
P/E Ratio
98.09
Dividend Yield
N/A
Market Cap
$134.70 billion
Rev. per Employee
$2.22M
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/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 270.71
+5.13 +1.93%
Volume: 26.55M
Dec. 6, 2019 4:00p
P/E Ratio
22.84
Dividend Yield
1.14%
Market Cap
$1202.84 billion
Rev. per Employee
$1.98M
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