Is Walt Disney Co. Losing Its Magic?
Disney (NYSE: DIS) shares recently dipped below $100 for the first time this year, after the House of Mouse warned that its full-year earnings would be roughly flat and miss analyst estimates for 3% growth. Meanwhile, Hurricane Irma's approach forced Disney to close Disney World in Orlando, which generates about $30 million in revenue daily.
Jefferies analyst John Janedis projected a three-day closure, which would result in $90 million in lost revenue excluding storm-related damages. All that bad news caused Disney to drop to fresh lows for the year, causing many investors to wonder if the stock has lost its magic.
Source: Fool.com