Dow Jones News: Iger Reportedly Running Disney; Caterpillar Downgraded
Last week's rally didn't survive the holiday weekend, with the Dow Jones Industrial Average (DJINDICES: ^DJI) down about 2.4% at 11:10 a.m. EDT Monday. While the coronavirus might be close to peaking in the United States, the measures put in place to slow the spread will likely have long-lasting economic effects.
There are few large companies more heavily exposed to the pandemic than Disney (NYSE: DIS), which has been forced to shut down its parks and delay movies. Disney stock was down on Monday after a report revealed that former CEO Bob Iger was apparently running the show. Shares of Caterpillar (NYSE: CAT) were also down big following an analyst downgrade.
Iger, who stepped down abruptly in January to become executive chairman after 15 years at the helm, is reportedly running the show again at the entertainment giant. The New York Times reported on Sunday that Iger had "effectively returned to running the company" as the pandemic puts intense pressure on most of Disney's businesses.
Source Fool.com
