Disney (DIS, $102.26) to stop paychecks for 100,000 employees
Walt Disney will stop paying more than 100,000 employees, starting this week, in a bid to save more cash amid the coronavirus crisis.
The entertainment behemoth will continue to provide full healthcare benefits for staff on unpaid leave, according to the Financial Times.
The employees, whose paychecks are to be discontinued, will be asked to seek state benefits.
Earlier this month, Disney's SEC filing revealed that it entered into a new credit agreement with Citigroup for as much as $5 billion to help see itself through the lockdown. The facility is apparently for general corporate purposes, as indicated in the filing.
Disney had earlier announced plans to furlough certain non-essential U.S. employees starting April 19. The company asked them to apply for the additional $600 a week of federal support as part of the U.S. government's $2 trillion coronavirus stimulus package.
DIS's RSI Indicator sits in oversold zone for 4 days
The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an uptrend is expected.
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Notable companies
The most notable companies in this group are Netflix (NASDAQ:NFLX), Walt Disney Company (The) (NYSE:DIS), Roku (NASDAQ:ROKU), Paramount Global (NASDAQ:PARA), iQIYI (NASDAQ:IQ), HUYA (NYSE:HUYA), AMC Entertainment Holdings (NYSE:AMC).
Industry description
Movies/entertainment industry include companies that produce and distribute motion pictures, and companies that operate general entertainment facilities like amusement parks and bowling centers. Some companies in this industry also have professional sports franchises. Live Nation Entertainment, Inc., Liberty Media Corp. and Viacom Inc. are some of the biggest companies in this space.
Market Cap
The average market capitalization across the Movies/Entertainment Industry is 9.41B. The market cap for tickers in the group ranges from 134 to 262.83B. NFLX holds the highest valuation in this group at 262.83B. The lowest valued company is LRDG at 134.
High and low price notable news
The average weekly price growth across all stocks in the Movies/Entertainment Industry was 3%. For the same Industry, the average monthly price growth was 9%, and the average quarterly price growth was 9%. LDSN experienced the highest price growth at 380%, while NETWF experienced the biggest fall at -28%.
Volume
The average weekly volume growth across all stocks in the Movies/Entertainment Industry was -11%. For the same stocks of the Industry, the average monthly volume growth was -14% and the average quarterly volume growth was 58%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
Valuation Rating: 52
P/E Growth Rating: 61
Price Growth Rating: 56
SMR Rating: 82
Profit Risk Rating: 86
Seasonality Score: 0 (-100 ... +100)