Disney Drops as Iger Warns About Weak 4Q; Lowering FVE to $130
Disney shares tumbled down just under 4.4% on Sept. 7 due to negative commentary on the fiscal fourth quarter from CEO Bob Iger at a sell-side investor conference. Iger announced that the current quarter would be weaker than expected, owing to the impact of Hurricane Irma and the BAMTech acquisition. However, Iger continues to try and move investor focus towards the projected stronger fiscal 2018, during which ESPN will have lapped the NBA contract expense jump and the studios will have a strong...Walt Disney is an entertainment company. The company's segments are: Media Networks, which includes domestic cable networks, broadcast television network and domestic television stations, and television production and distribution; Parks, Experiences and Products, which includes theme parks and resorts, and consumer products operations; Studio Entertainment, which includes motion picture production and distribution, music production and distribution, and post-production services; and Direct-to-Consumer and International, which includes international television networks and channels, direct-to-consumer streaming services, and other digital content distribution platforms and services.
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