On this episode of Stock Movers, we take a look at some of the biggest gainers and decliners of the week:
- Disney (DIS) reported sales that fell short of Wall Street estimates and said a slate of big-budget films, including a new Avatar picture, will weigh on results for the first quarter of its new fiscal year. Shares of Disney fell 7.8% to $107.61 at the close in New York on Thursday following the earnings release. It was Disney's worst one-day loss since April.
- Warner Bros. Discovery (WBD) shares bounced around this week on reports that Paramount, Comcast and Netflix were preparing bids for it. On Friday, the media conglomerate amended the contract of Chief Executive Officer David Zaslav to ensure his stock options remain eligible to vest even if it's sold. The change, announced in a regulatory filing Thursday, follows the company’s decision last month to consider strategic options including a possible sale. Shares rallied on Friday to close the week.
- Walmart (WMT)'s Chief Executive Officer Doug McMillon recently spoke about the impact of artificial intelligence, saying it’s clear that the technology is going to change “literally every job.” That includes the very one he’s now passing along — a move that fits a tenure defined by staying a step ahead of change. Shares initially fell on the news.
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