Right Where We Left Off

Happy New Year!

The stock market is getting started on a good note.

Things will get a lot more interesting soon, once earnings season starts.

Shares of Disney (DIS) are off to a nice start:

Disney shares were on the rise to kick off 2020 after some Wall Street analysts estimated significant growth from its new streaming service and recommended clients keep buying the stock.

Rosenblatt Securities analyst Bernie McTernan expects Disney+ to attract 25 million users by the end of the first quarter of 2020, he said in a note Wednesday. He previously estimated that figure to be 21 million subscribers.

“Following results from our 4th streaming video survey over the past 3 months we are raising our estimates for Disney+, now assuming 25M subscribers globally at the end of FY1Q20, up from 21M prior,” he said. “Awareness of the service and penetration of respondents has continued to trend higher throughout our surveys.”

McTernan reiterated a $175 price target and a buy rating on Disney, and added that the growth of Disney+ may be pulling some users away from Netflix.

On the econ front, this morning’s jobless claims report fell by 2,000 to 222,000. That’s a good number. We’ll learn a lot more next Friday, January 10, when the government releases the job stats for December. The unemployment rate is currently near a 50-year low.

Here’s an interesting stat from the Stock Trader’s Almanac: When stocks finish the first five days higher, the S&P 500 has been positive more than 80% of the time at year-end with an average gain of about 13%.

Posted by on January 2nd, 2020 at 10:48 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.