Disney Vs. Ron DeSantis - House of Mouse and Florida Gov. Resolve Legal Dispute, Unveiling Future Plans for Theme Park
Portfolio Pulse from Anusuya Lahiri
Walt Disney Co (NYSE:DIS) and the Florida government, led by Gov. Ron DeSantis, have settled their legal disputes over the governance of Walt Disney World's special district. The settlement ends a two-year standoff related to Florida's 'Don't Say Gay' law, with Disney agreeing to work with the new board appointed by DeSantis. This agreement is expected to lead to significant investments and economic opportunities in Florida. Disney reported first-quarter revenue of $23.5 billion and an adjusted EPS of $1.22. DIS shares rose 0.31% to $120.30. Investors can also gain exposure to Disney through AdvisorShares Gerber Kawasaki ETF (NYSE:GK) and Invesco S&P 500 Equal Weight Communication Services ETF (NYSE:RSPC).
March 27, 2024 | 6:00 pm
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Disney settles legal disputes with Florida Gov. DeSantis, promising future investments and economic growth in Florida. Q1 revenue reported at $23.5 billion with an adjusted EPS of $1.22. Shares increased by 0.31%.
The resolution of the legal dispute removes a significant overhang on Disney's operations in Florida, potentially unlocking new investments and collaborations that could drive future growth. The positive Q1 earnings report further supports the optimistic outlook for the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
AdvisorShares Gerber Kawasaki ETF (NYSE:GK) offers exposure to Disney, which has recently settled a legal dispute with Florida, indicating potential for future growth.
Given that GK ETF includes Disney in its portfolio, the positive developments in Disney's legal and operational landscape in Florida could indirectly benefit GK's performance by potentially enhancing Disney's stock value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Invesco S&P 500 Equal Weight Communication Services ETF (NYSE:RSPC) includes Disney, which could see growth from the recent legal settlement with Florida.
RSPC, by holding Disney shares, stands to gain from the uplift in Disney's stock following the resolution of its legal issues with the Florida government and the anticipated economic opportunities, indirectly boosting RSPC's performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50