Friday's Headlines: Disney, Nordstrom, and Nautilus are Surging This Week
As Monday is a public holiday here in Ireland, there will be no Headlines or Daily Insight published. Business as usual will resume on Tuesday.
Here were the biggest movers in the MyWallSt shortlist yesterday:
Moving Up ⬆️
Moving Down ⬇️
1. Disney shareholders got some welcome news this week after the company announced that it had racked up a jaw-dropping 50 million subscribers to its new streaming platform, Disney+. The total, which is nearly a third of Netflix's global subscriber count, is made all the more impressive by the fact that it was reached in just 5 months. As other parts of Disney's business like their Parks and Cinema suffer massively due to the worsening COVID-19 pandemic, it's clear that many people are now choosing to enjoy some classic Disney movies from the comfort of their own home.
2. Another company that has had a fantastic week is Nordstrom, who saw its share price jump some 50% since Monday morning off the back of… well, nothing at all, really. On Wednesday, the company announced that its current quarter and beyond would be “adversely impacted in a significant manner” due to the ongoing crisis. Usually, this would be considered bad news, but it didn't seem to deter investors who perhaps thought its $2 billion market cap on Monday was a bit of a bargain.
3. And to complete the hat-trick of good news this morning, we have a very surprising addition — Nautilus! Shares in the beleaguered company have spiked as much as 30% this week after management gave an upbeat forecast for the current quarter, thanks in no small part to people working out at home. "COVID-19 has created a heightened need for home-fitness products and our company was able to meet customer demand well, through both the direct and retail segments,” said CEO Jim Barr.