Scalper1 News
Wells Fargo downgraded several media stocks on Tuesday — including Walt Disney (DIS), CBS (CBS) and 21st Century Fox (FOXA) — citing the dismal earnings season within the group during the second quarter. The downgrade comes a couple of weeks after media stocks got slammed amid ongoing fears that competition from Netflix (NFLX) and other streaming services will lead to subscriber losses and lower cable ad revenue. Shares of Disney closed down 1.9%, Scalper1 News
Scalper1 News