Walt Disney shares are trading lower after the company announced it may need to pay $5 billion more for the Hulu stake. The stock initially traded higher after the company reported Q3 financial results, but it has since reversed.
Portfolio Pulse from Benzinga Newsdesk
Walt Disney shares are trading lower after the company announced it may need to pay $5 billion more for the Hulu stake. The stock initially traded higher after the company reported Q2 financial results, but it has since reversed.
August 07, 2024 | 1:28 pm
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Walt Disney shares are trading lower after the company announced it may need to pay $5 billion more for the Hulu stake. The stock initially traded higher after the company reported Q2 financial results, but it has since reversed.
The announcement of potentially needing to pay an additional $5 billion for the Hulu stake is a significant financial burden, which has led to a negative market reaction. This news has overshadowed the initial positive response to the Q2 financial results, causing the stock to reverse its gains.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100