Does This Startling Move Make Disney a Buy?
Walt Disney (NYSE: DIS) has lost a lot of its magic for investors this year. The stock is heading for nearly a 40% loss. The company missed analysts' sales and profit estimates in the latest earnings report. Demand is growing for the entertainment giant's offerings -- but costs are climbing too.
It's clear the company needs a plan to manage today's challenges and spur long-term growth. And in a surprise move a few days ago, Disney offered its solution. The company brought back longtime chief executive officer Bob Iger -- only months after renewing current CEO Bob Chapek's contract.
Does this switch make Disney stock a buy?
Source Fool.com