Dow Jones News: Disney CEO Steps Down; Walmart Launches Fulfillment Service

The Dow Jones Industrial Average (DJINDICES: ^DJI) staged a comeback on Wednesday following two days of brutal losses. The Dow was up 1.38% at 10:40 a.m. EST, even as the global coronavirus outbreak showed no signs of slowing down.

Shares of Disney (NYSE: DIS) failed to participate in the rally after the company announced an abrupt CEO change. Meanwhile, Walmart (NYSE: WMT) stock rose slightly after the retailer unveiled its own third-party fulfillment service.

In a sudden move that surprised investors, Disney announced late Tuesday afternoon that its longtime CEO Robert Iger was stepping down, effective immediately. Iger is being replaced by Bob Chapek, a Disney veteran who's been with the company since 1993. Chapek was previously the chairman of parks, experiences, and products.

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Source Fool.com