Nov 14, 2019

Disney had a very good day

Dion Rabouin, author of Markets
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Data: Investing.com. Chart: Axios Visuals

Disney was the best performing stock in the Dow Jones Industrial Average Wednesday, jumping 7.3% after reporting 10 million subscribers had signed up for its Disney+ streaming platform on opening day.

Why it matters: The stock rose to an all-time high and had its biggest single-session gain since April on a day when the Dow, S&P 500 and Nasdaq were little moved.

The big picture: Since announcing Disney+ on Nov. 8, 2018, the stock has gained 28.2%.

  • That's leagues above the S&P's 10.2% gain and in stark contrast to Netflix's 10.9% decline during the same time period.

Money in the bank: Analysts at Credit Suisse predicted 10 million subscribers would be the magic number for Disney+ in a note back in September, calling the figure "an inflection point" where "70% of investors would start new positions or add to existing ones."

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Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.

Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.