In a move celebrated by the market, Bob Iger has been reappointed as chief executive of Disney (DIS).
The entertainment giant said in a statement on Sunday that Iger would again take the helm, effective immediately, after Iger’s hand-picked successor, Bob Chapek, has been scrutinized for his management of the company. Disney’s third-quarter earnings underperformed Wall Street’s expectations, with its theme park business also delivering less than what analysts had projected despite reporting a surge in revenue.
Iger has signed on as CEO for two years, with a mandate from the board “to set the strategic direction for renewed growth and to work closely with the Board in developing a successor to lead the Company at the completion of his term,” Disney said in a statement.
Investors celebrated the news. Shares of Disney increased around 9% in early trading Monday. Year to date through November 18, shares of Disney have fallen 41%, with the stock hitting a 52-week low on November 9.
Invesco’s robust lineup of ETFs includes three funds that offer meaningful exposure to Disney: the Invesco NASDAQ Internet ETF (PNQI), the Invesco Dynamic Media ETF (PBS), and the Invesco Dynamic Leisure & Entertainment ETF (PEJ).
PNQI is based on the Nasdaq CTA Internet Index, which includes companies whose primary businesses include internet-related services including, but not limited to, internet software, internet search engines, web hosting, website design, or internet retail commerce as determined by the Consumer Technology Association (CTA).
PBS tracks the Dynamic Media Intellidex℠ Index, which is designed to evaluate companies based on a variety of investment merit criteria, including price momentum, earnings momentum, quality, management action, and value. The index is comprised of 30 U.S. media companies that are principally engaged in the development, production, sale, and distribution of goods or services used in the media industry.
PEJ is based on the Dynamic Leisure & Entertainment Intellidex℠ Index. The index behind PEJ and PBS utilize the same evaluation process and criteria. The index comprises 30 U.S. leisure and entertainment companies that are principally engaged in the design, production, or distribution of goods or services in the leisure and entertainment industries.
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