Dow Jones News: Disney Reports Streaming Success; Nike Warns of Coronavirus Impact
Wednesday marked a third day of gains for the Dow Jones Industrial Average (DJINDICES: ^DJI). The Dow was up 1.08% by 11:30 a.m. EST, continuing its recovery from a steep sell-off last Friday. While the death toll from the coronavirus outbreak in China continues to rise, some promising results using drug treatment against the virus may be contributing to the rally.
Two Dow components left out on Wednesday were Walt Disney (NYSE: DIS) and Nike (NYSE: NKE). Disney reported better-than-expected quarterly results, but the bottom line plunged as streaming costs added up. Nike won't report its results until March, but it may miss expectations after the company announced temporary store closures in China.
So far, Disney has found plenty of customers for its Disney+ streaming service. The new entry in the streaming wars had racked up 26.5 million subscribers by the end of 2019, exceeding Disney's expectations. The company's other streaming services grew as well. ESPN+ more than quadrupled its subscriber base over the past year to 6.6 million, while Hulu's subscriber base increased by 33%.
Source Fool.com
