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Disney's (DIS) Hong Kong Theme Park Set to Reopen on Jun 18
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Disney’s (DIS - Free Report) Hong Kong Disneyland Park is set to reopen on Jun 18. Notably, the company recently announced phased reopening of its California and Florida Disneyland Resorts. It reopened the gates of Shanghai Disney Resort’s theme park, Shanghai Disneyland, last month.
Notably, pending state and local government approvals, Disneyland Park will join Disney California Adventure in reopening its gates on Jul 17. Moreover, Downtown Disney District will reopen a week earlier on Jul 9 while Disney’s Grand Californian Hotel & Spa and Paradise Pier Hotel will reopen on Jul 23.
Additionally, Florida’s Magic Kingdom Park and Disney’s Animal Kingdom are expected to begin a phased reopening for the general public on Jul 11 followed by EPCOT and Disney’s Hollywood Studios on Jul 15, subject to fulfillment of conditions set by state and local administration.
Markedly, Disney bore the brunt of the coronavirus outbreak. The pandemic that originated in Wuhan, China forced it to shut down theme parks in Hong Kong, Shanghai and Tokyo in January, this year. The company also shuttered its Paris resort in mid-March.
Moreover, suspended cruise lines, halted film and TV productions and shuttered retail stores, hurt its top-line growth and profitability. Notably, the pandemic affected Disney’s income from continuing operations before income taxes by $1.4 billion.
Further, Disney shares have declined 20.2% year to date. Nevertheless, resumption of NBA at Walt Disney World in Florida during July, phased reopening of the parks and a robust Disney+ are expected to help this Zacks Rank #3 (Hold) stock rebound in the balance of 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hong Kong Disneyland to Reopen With Reduced Capacity
Similar to Shanghai, Hong Kong Disneyland will reopen with a reduced footfall. Markedly, when Shanghai Disneyland reopened in May, the 80,000 capacity park allowed only 20,000 guests, which it pledged to gradually increase.
To manage the traffic, Disney came up with a new set of advance reservation rules for the Hong Kong theme park. The company is expected to follow the same set of rules for both California and Florida Disneyland Resorts.
Moreover, the Hong Kong Disneyland will ask visitors to wear masks and undergo thermal screening upon arrival. Moreover, the park will implement social distancing in queues, restaurants, attraction vehicles and other facilities. Close interaction and close-up photos with characters will be temporarily suspended.
Disney+ to Aid Top-Line Growth
Apart from the park openings, we believe, robust adoption of Disney+ will boost Disney’s results in the near term.
Notably, as of May 4, Disney+ subscriber base had reached 54.5 million, triggered by higher medium consumption on lockdowns and pandemic-related physical distancing norm.
Moreover, solid content portfolio is expected to help Disney+ pose a threat to Netflix’s (NFLX - Free Report) dominance in the streaming space, which has seen intensifying competition with new and upcoming services like AT&T’s (T - Free Report) HBO Max and Comcast’s (CMCSA - Free Report) Peacock, respectively.
Additionally, availability of Disney+ in Japan during June followed by launches in the Nordics, Belgium, Luxembourg and Portugal in September and Latin America toward the end of 2020 are expected to brace subscriber base.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Image: Shutterstock
Disney's (DIS) Hong Kong Theme Park Set to Reopen on Jun 18
Disney’s (DIS - Free Report) Hong Kong Disneyland Park is set to reopen on Jun 18. Notably, the company recently announced phased reopening of its California and Florida Disneyland Resorts. It reopened the gates of Shanghai Disney Resort’s theme park, Shanghai Disneyland, last month.
Notably, pending state and local government approvals, Disneyland Park will join Disney California Adventure in reopening its gates on Jul 17. Moreover, Downtown Disney District will reopen a week earlier on Jul 9 while Disney’s Grand Californian Hotel & Spa and Paradise Pier Hotel will reopen on Jul 23.
Additionally, Florida’s Magic Kingdom Park and Disney’s Animal Kingdom are expected to begin a phased reopening for the general public on Jul 11 followed by EPCOT and Disney’s Hollywood Studios on Jul 15, subject to fulfillment of conditions set by state and local administration.
Markedly, Disney bore the brunt of the coronavirus outbreak. The pandemic that originated in Wuhan, China forced it to shut down theme parks in Hong Kong, Shanghai and Tokyo in January, this year. The company also shuttered its Paris resort in mid-March.
Moreover, suspended cruise lines, halted film and TV productions and shuttered retail stores, hurt its top-line growth and profitability. Notably, the pandemic affected Disney’s income from continuing operations before income taxes by $1.4 billion.
The Walt Disney Company Price and Consensus
The Walt Disney Company price-consensus-chart | The Walt Disney Company Quote
Further, Disney shares have declined 20.2% year to date. Nevertheless, resumption of NBA at Walt Disney World in Florida during July, phased reopening of the parks and a robust Disney+ are expected to help this Zacks Rank #3 (Hold) stock rebound in the balance of 2020. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hong Kong Disneyland to Reopen With Reduced Capacity
Similar to Shanghai, Hong Kong Disneyland will reopen with a reduced footfall. Markedly, when Shanghai Disneyland reopened in May, the 80,000 capacity park allowed only 20,000 guests, which it pledged to gradually increase.
To manage the traffic, Disney came up with a new set of advance reservation rules for the Hong Kong theme park. The company is expected to follow the same set of rules for both California and Florida Disneyland Resorts.
Moreover, the Hong Kong Disneyland will ask visitors to wear masks and undergo thermal screening upon arrival. Moreover, the park will implement social distancing in queues, restaurants, attraction vehicles and other facilities. Close interaction and close-up photos with characters will be temporarily suspended.
Disney+ to Aid Top-Line Growth
Apart from the park openings, we believe, robust adoption of Disney+ will boost Disney’s results in the near term.
Notably, as of May 4, Disney+ subscriber base had reached 54.5 million, triggered by higher medium consumption on lockdowns and pandemic-related physical distancing norm.
Moreover, solid content portfolio is expected to help Disney+ pose a threat to Netflix’s (NFLX - Free Report) dominance in the streaming space, which has seen intensifying competition with new and upcoming services like AT&T’s (T - Free Report) HBO Max and Comcast’s (CMCSA - Free Report) Peacock, respectively.
Additionally, availability of Disney+ in Japan during June followed by launches in the Nordics, Belgium, Luxembourg and Portugal in September and Latin America toward the end of 2020 are expected to brace subscriber base.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>