Stocks fell on Thursday as investors retreated ahead of the Federal Reserve's Jackson Hole symposium, with European stocks dropping and technology stocks giving up earlier gains, while Walt Disney shares tumbled, and Treasury yields increased on strong economic data and concerns about inflation.
Disney's stock is on course to reach its lowest level since 2014, showing a significant drop in market capitalization since Bob Iger returned as CEO, while AMC's stock is falling as investors anticipate its stock conversion.
The Walt Disney Company stock dropped to a new 52-week low, reaching $83.02, down over 3%.
Disney stock is falling, on track for its lowest close since 2014, while Boeing is also dragging down the Dow.
The shares of Walt Disney continue to decline due to recent controversies and a decline in subscribers, but analysts still believe the stock price can recover with a target price of $110.71.
Disney shares are trading at their lowest level in nearly a decade due to investors losing faith in the company's long-term stock performance, which has been far behind other notable stocks.
Charter Communications and Disney Entertainment failed to reach a new carriage agreement, resulting in Spectrum subscribers losing access to ESPN, FX, Freeform, the Disney Channel, and several ABC channels, affecting approximately 14.7 million subscribers.
Charter Communications and Disney are engaged in a contract dispute over fees and streaming charges, leading Charter to temporarily stop offering Disney-owned channels to its customers.
KeyBanc analyst says that the upcoming disclosure of ESPN's financials by Walt Disney may disappoint investors, suggesting that Disney stock may not be a good buy.
Shares of AMC Entertainment fell over 35% after the company announced plans to sell more than 40 million common shares, following its recent 1-for-10 reverse stock split and a decline of 84% in the last year.
Charter Communications CEO Chris Winfrey warns that the company is prepared to explore alternative video options if it fails to reach a new agreement with Disney, while expressing a desire to get a deal done to benefit both companies and their customers.
Disney stock is experiencing a decline, but it is still considered a good investment despite Charter Communications' request for Disney to reconsider its cable bundle.
Apple shares stabilize after a recent loss following a Chinese crackdown on iPhone use, while Disney channels remain blacked out for Charter subscribers, and other notable stock updates are highlighted.
Walt Disney Co. and Charter Communications have reached an agreement that restores Disney channels to Charter's pay-TV service, with Charter gaining the ability to offer Disney's ad-supported streaming apps and Disney programming having access to Charter's television service, preserving the cable bundle for now.
The new carriage agreement between Disney and Charter Communications is seen as a win for both parties, with Disney gaining additional revenue through new distribution channels and Charter saving on unwanted linear networks. However, there are concerns about the impact on the broader entertainment industry and the future of linear TV.
Shares of Alphabet Inc. Cl A fell 0.51% as the stock market experienced a dismal trading session, although it outperformed some of its competitors.
Disney shares declined in early trading after the company announced plans to invest $60 billion in its theme parks over the next decade to further increase profitability and expand its reach to a large addressable market of individuals with "high Disney affinity" who have yet to visit the parks.
Charter Communications stock receives an upgrade from Wells Fargo due to potential growth opportunities, particularly in rural areas, following a dispute with Disney.
