Disney Opens with Gains on Wall Street After Strong Quarterly Figures

13th August 2021
Business, News, US

The share of Disney was among the winners on Friday after the opening of the stock exchanges in New York. The entertainment group presented better than expected figures and was rewarded for this by investors.

The main stock indicators on Wall Street showed small price movements after Thursday’s new closing records.

Disney gained nearly 4 percent in early trading. Both the profit and the turnover of the group were higher than what experts had taken into account. The Disney+ streaming service attracted 12.4 million additional subscribers in the quarter, bringing 116 million. Several new films and series were also added. Disney brought Raya and the Last Dragon to Disney+, as did The Mysterious Benedict Society and Star Wars: The Bad Batch.

Shortly after the opening bell, the leading Dow-Jones index was 0.3 percent higher at 35,590 points, with which the indicator seems to be heading for a new record. The same was true for the S&P 500. The broad gauge rose 0.1 percent to 4465 points. Tech gauge Nasdaq fell 0.1 percent to 14,803 points.

Vaccine makers Moderna and BioNTech gained up to 3 percent in market value. The US Food and Drug Administration (FDA) has approved a third injection of the corona vaccine for people with weak immune systems. In addition, the South Korean government has signed a deal with pharmaceutical company Pfizer (plus 1.8 percent). The country has negotiated an option to buy another 30 million doses of the company’s corona vaccine next year if needed.

Embraer rose nearly 6 percent on Wall Street. The Brazilian aircraft manufacturer posted a quarterly profit for the first time since the beginning of 2018. Flights are increasing again as travel restrictions to prevent corona infections are relaxed.

The spread of the Delta variant of the coronavirus is hindering the vacation rental platform Airbnb. As a result, fewer overnight stays are booked in the current summer quarter than usual before the corona pandemic. As a result, Airbnb lost about 2 percent.