Wall Street Thinks End of Disney/Netflix Deal Is a Bad Idea
by EG
The stocks of Walt Disney and Netflix fell more than their peers in early Wednesday trading as Wall Street observers discussed the impact of late Tuesday's news from the Hollywood giant that it would end its Disney and Pixar movies licensing deal with the online video giant and launch a streaming service of its own.
U.S. and global stocks opened lower on Wednesday after U.S. President Donald Trump warned North Korea about facing "fire and fury" if it doesn't stop threatening the U.S. The broad-based S&P 500 stock index opened about 0.3 percent lower.
The stocks of Disney, which also posted weaker-than-expected quarterly revenue after Tuesday's market close, and Netflix fared worse though. Netflix's stock in early Wednesday trading was down 3 percent at $173.01, while Disney's stock was down 4.6 percent at $102.10.
Read the rest of this article at The Hollywood Reporter.
One of the most recent Disney films to hit Netflix is Rogue One: A Star Wars Story.