Walt Disney Company

Walt Disney Company

According to people familiar with the matter, Disney has unveiled the release date of the sequel ‘‘Avatar: The Way of Water'’ in China. It is a favorable event in a key market for the studio.

Less than a year after retiring, Bob Iger returns to Disney as CEO.

Disney is holding back its spending after reporting that the company fell short of Wall Street's earnings guidance for the latest quarter. In the memo, Bob Chapek also confirmed that the company is expecting staff cuts.

On Wednesday, shares of Disney, the largest media conglomerate, fell 13% to $86.75, the lowest figure since March 2020. The event could be considered as the biggest one-day drop since Sept. 17, 2001.

The Walt Disney Co. stocks fell more than 7% in pre-market Wednesday trading. That came right after the company announced lower earnings for the fourth quarter of 2022.