Walt Disney Company (NYSE:DIS) shares are trading higher Friday and the stock is up more than 7% over the last five days. Here’s a look at what’s going on:
What To Know:
On Wednesday, Disney announced it will acquire the 33% stake in Hulu it did not own from Comcast Corporation (NASDAQ:CMCSA). Disney expects to pay $8.61 billion to Comcast for the stake.
On Wednesday, Disney’s streaming competitor, Roku (NASDAQ:ROKU), reported better-than-expected sales results, and shares of streaming-related companies have been higher after the report.
Walt Disney Company is set to report its forth-quarter and full year financial results after the market close on Nov. 8 and will host a conference call to discuss the results at 5:30 p.m. ET the same day.
According to estimates from Benzinga Pro, the company is expected to report earnings of 70 cents per share and quarterly revenue of $21.348 billion.
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DIS Price Action: According to Benzinga Pro, Walt Disney Company shares are up nearly 3% at $85.71 at the time of publication.
Image: Mohamed Hassan from Pixabay
