Walt Disney Co NYSEDIS reported mostly disappointing Q3 numbers on Thursday, but the stock is up about 2 percent Friday. Perhaps the reason for the market’s optimism has to do with CEO
When Iger was asked on the company’s earnings call about potential acquisitions of Twitter Inc
“We think there's some really interesting opportunities, given what's going on from a technological perspective, to both improve our businesses and also improve the consumer experience by selling directly to consumers… we're obviously interested in the opportunity that exist today to have more direct relationship with the consumer.”
That answer coupled with Disney’s recent minority stake in streaming video company
However, with cash
If Disney instead chooses to build its own service from scratch, it could follow a
At the very least, Iger’s comments suggest Disney may soon be making a major shift in the way it distributes its content. That attitude seems to be just what the market was hoping to see.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.