Posted on 06/25/2020 11:54:34 AM PDT by SeekAndFind
Walt Disney Co. (DIS) - shares slipped lower Thursday after the company said it would delay the re-opening of its hotels and theme parks in the state of California amid a new surge in coronavirus infections.
Disney said it will publish a new re-opening schedule early next month after it receives new guidelines from state officials in Sacramento. Disneyland Park and Disney California Adventure Park had been slated to re-open on July 17, but two consecutive days of record infection rate increases have forced health authorities, as well as Governor Gavin Newsom, into a more conservative strategy.
The decision could also raise questions over the fate of the NBA's playoff plans, slated to begin next month at Walt Disney World in Orlando.
"Given the time required for us to bring thousands of cast members back to work and restart our business, we have no choice but to delay the reopening of our theme parks and resort hotels until we receive approval from government officials,” the company said in a statement.
Disney shares were marked 2.5% lower at $109.33 each in early Thursday trading, a move that would extend the stock's year-to-date decline to around 24.5%.
California is one of 30 states where case numbers are growing by 5% or more based on a 7-day average, according to a CNBC analysis of data compiled by Johns Hopkins University. The state’s seven-day average of new Covid-19 cases increased nearly 46% compared with a week ago, CNBC reported.
Disney also operates four theme parks at its Walt Disney World Resort in Orlando, Florida -- which bring in more than 150 million visitor each year -- and has planned a phase re-opening that is slated to begin on July 11.
(Excerpt) Read more at thestreet.com ...
Disney should open up a new ride at Disneyland. Let’s entitled it “Wu Can Flu over the Park”. You get one egg roll per ticket.
Some good news for a change.
Babs unloaded Disney stock on a young black girl, doing her part for BLM she needs to pay up. White rich women gives worthless paper to little black girl, RACIST!
Disney is a malicious, predatory operation as far as I’m concerned.
Could not care less about Disney World at Orlando. I was leaving after a business trip & the local talk radio host in a Cuban accent was begging parents not to take their children to Disney World that week:
“Don’ take your kids there! It’s Gay Pride week! The maricones will be everywhere! Joo don’ want your kids to see that!”
Closed at 111.36, down 71 cents. Not exactly a crash.
No. Just “order” them to wear masks and keep 6 feet “social distance “. LOL. More popcorn ! !!
ESPN: Die
ABC: Die
Disney Cruises: Sink
Disney Parks: Die
EPCOT Center: Die
Fox Movies: Die
Lucas Films: Die
Marvel Comics: Die
Whatever other crap Disney owns: Die Die Die!
Think how long the lines will be if they put those six foot spacers between the riders. It will be a horrorshow.
Disney is officially the Most Evil Place on Earth.
Much of the Disney experience is already a horror show .
Yes, Disney is not run by the same people who made Bambi. These new people are non-christian Chinese sellouts.
Indeed it is.
Agreed, which is why we need to find a way to wrest back control of Disney, make SURE it’s back to being a genuinely wholesome image. Even if it means having to hire Blackwater to take it over, at least it will be SOMETHING to steer it back in the right direction.
“disney is a sellout
their ‘wholesome’ image is just to get people who’d otherwise avoid such a company and their products
christian ignorance being a big one they’ve exploited”
Eh, It’s certainly a sellout now. But back when Disney was running the joint, heck, even as late as the 1980s and 1990s, the guys in Disney DID attempt to adhere to American views and Christian views. I can name one person who definitely deserves a lot of the blame for the leftward shift of the company, and that person is Jeffrey Katzenberg, especially his mishandling of Beauty and the Beast. I’d blame Eisner, but on the other hand, his liking Jim Cox’s rendition of Beauty and the Beast enough to actually personally request he make a full fledged screenplay would point that even he still cared back then of making it wholesome (the Jim Cox screenplay was very close to the original tale, including Belle’s Sisters being the main antagonists, and Belle being traditional rather than a feminist). It was Katzenberg who nixed that version and the Purdum version and demanded for a feminist twist to the story, which pretty much started the rot.
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