The media giant’s beleaguered stock, which has essentially been stuck in the mud since 2022, drifted down a fraction of a percentage point Tuesday to close at $103.81. On Monday, shares fell nearly 7.5%, a sharp pullback for the large-cap Dow component, in the wake of disconcerting projections in the company’s fiscal first-quarter earnings report.
The long-awaited news about Bob Iger’s successor, along with Entertainment Co-Chairman Dana Walden’s promotion to president and chief creative officer, was delivered before the start of the trading day. Analysts noted that D’Amaro had been the front-runner for months.
EvercoreISI analyst Kutgun Maral wrote in a note to clients the executive appointments would likely be “well received by investors and other key stakeholders.” Investors, he continued,…
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