Disney will surpass Netflix if it repositions Disney+
Activist investor Dan Loeb is calling on Walt Disney Co. (NYSE: DIS) to reposition the company around Disney+. Loeb’s Third Point Capital is one of the company’s largest shareholders, and he wants Disney to cut its $3B annual dividend and direct it towards growing Disney+. He believes that Disney’s stock will surpass Netflix’s if it is able to demonstrate the best-in-class results. Disney stock rose 2% on the news. Click here to read more
On October 2nd, DraftKings (NASDAQ: DKNG) was trading at $64 a share. Yesterday, the stock dropped to $52 a share because the company is selling 16 million new shares and existing shareholders are not too happy. Click here to read more.
Chevron Corp. (NYSE: CVX) overtook Exxon Mobil Corp. (NYSE: XOM) as the largest oil company in America by market value. It is the first time the Texas-based giant has been dethroned since it began as Standard Oil more than a century ago. Click here to read more.
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Here are the biggest movers in pre-market trading
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