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Mickey Mouse rides in a parade at Disney World's Magic Kingdom in Orlando, Florida. Photo: Joe Raedle/Getty Images

Wall Street is anxiously awaiting Disney earnings at market close today, after several analysts have already begun to downgrade the stock due to its unique exposure to the coronavirus epidemic.

Why it matters: Roughly half of Disney's revenue is directly tied to industries that have been shut down, like parks and resorts, advertising and film.

Expand chart
Data: Yahoo Finance; Chart: Axios Visuals

Disney's damage control so far:

  • Furloughed 100,000 employees
  • Freed up roughly $13 billion in credit
  • Pushed blockbuster movies like Mulan off the release schedule while theaters are mostly closed and delayed production

Yes, but: The one bright spot for Disney throughout the pandemic has been Disney+, which Disney says has surpassed 50 million subscribers.

What to expect: Moody's SVP Neil Begley says that he expects Disney to take a hit in Q1, but that "the dramatic impact that's coming is really in Q2."

  • "We're anticipating that this will be a rough couple of quarters for the company."

Go deeper: Disney parks might not reopen until next year

Go deeper

Jul 30, 2020 - Economy & Business

Axios Harris Poll 100: Corporate trust soars during the pandemic

Data: Harris Poll COVID19 Tracker Wave 20; Chart: Axios Visuals

The public's view of almost every industry has improved since the beginning of the coronavirus pandemic, according to a new Axios/Harris poll. Industries with a prominent role in life under quarantine have seen especially big jumps.

Why it matters: Businesses in America were already undergoing a transformation from being solely focused on profits to being focused on values as well. The coronavirus pandemic has expedited that shift, and consumers are responding favorably to it.

Mike Allen, author of AM
50 mins ago - World

Courage vs. coddling with China

Peng Shuai of China serves during the China Open in Beijing in 2017. Photo: Andy Wong/AP

The women's professional tennis tour suspended tournaments in China Wednesday out of concern for Peng Shuai, on the same day that a top business voice made excuses for Beijing.

Why it matters: Ahead of February's Winter Olympics in Beijing, some sports figures are taking on the regime — while Big Business shrinks from confrontation with the world's second-largest economy.

1 hour ago - Sports

What to know about the first MLB lockout since 1995

Illustration: Shoshana Gordon/Axios

Hope you enjoyed the recent flurry of free-agent activity, because it's likely the last non-lockout-related MLB news for a while.

Driving the news: The owners locked out the players after the collective bargaining agreement expired at midnight last night, leading to MLB's ninth work stoppage — and first since 1995.