Despite weak parks and cruise guidance, Disney’s (DIS) second quarter earnings saw its streaming services, Disney+ and Hulu, turn a profit for the first time. Blanke Schein Wealth Management Chief Investment Officer Robert Schein joins Market Domination to break down the market reaction to the entertainment giant’s earnings.
Schein sees the sliding Disney stock as an overreaction stemming from Wall Street’s disappointment in the company’s weaker-than-expected guidance. Nonetheless, he stresses that Disney had a "solid" second quarter and is still trending higher year-to-date for long-term shareholders.
Fresh off Disney’s victory in a hotly contested proxy battle with activist investor Nelson Peltz, Schein — who voted for Peltz — believes the situation ended in a "win-win." "[Peltz] basically got management’s attention," he explains, adding, "Moving forward, I believe wholeheartedly management’s going to execute."
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