Disney's Surprise Move Tries to Give the Dow a Lift
Even as people across the U.S. get into the Thanksgiving spirit, stock markets seemed resigned to starting the new week on a downbeat note. Futures contracts on most major market indexes were down as much as half a percent, with the Dow Jones Industrial Average (DJINDICES: ^DJI) faring a little bit better.
The Dow's attempt to get back to break-even territory got a big boost from Walt Disney (NYSE: DIS), which announced a surprising change in its corporate suite. The move has investors excited about where the media and entertainment giant could be headed from here, even though the company still faces substantial challenges.
Shares of Disney jumped 10% in premarket trading Monday morning after the theme park operator and video content production company announced that it had made a transition in leadership. Bob Chapek has stepped down from his position as chief executive officer, and the board of directors has named former CEO Bob Iger to take back his old job.
Source Fool.com
