From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
PFIZER’S VAX STUNNER
DISNEY’S STREAMING HEDGE
In case the message hasn’t been clear this year, for media companies, it’s all about the streaming. Disney reported earnings for its fiscal fourth-quarter that showed an 80 percent drop in operating income, resulting in its first annual loss in more than 40 years. And yet, the stock popped 5 percent. Why? Disney said it has more than 73 million subscribers on Disney+, more than its initial low-end estimate for the first five years. And it got there in less than one. Investors had largely baked in the idea that Disney would report another big loss given that its theme park and cruise divisions have been decimated by the pandemic. But the overall results weren’t as bad as expected and, combined with the gangbuster streaming subs, have analysts feeling good about the stock long term — especially once the pandemic ends, and parks, ships, and theaters presumably fill back up.