Diamonds and Dogs

10/13/20

Disney (DIS) focused on streaming. The Entertainment giant is up 4% as the company announced a massive reorganization of its media and entertainment business that will focus on developing productions that will debut on its streaming and broadcast services. A few weeks ago, Third Point Capital hedge fund, called on Disney to cancel its dividend and redirect more investments into streaming.

Delta (DAL) not flying much. Delta is down 2% following third quarter earnings. Delta reported a $5.4 billion loss as sales fell 75% to $3.06 billion. The company has improved their daily cash burn from $27 million per day in June to $18 million per day in September.

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