Hugh Johnston: Last News

Fireworks at Disney’s first-quarter earnings amid a bitter proxy fight quieted down in the second and the company’s commentary on a call today, especially around the parks business, generated some investor angst and knocked the stock lower.

Todd Spangler NY Digital Editor Disney‘s adjusted earnings per share for the March quarter beat Wall Street forecasts — but the company’s stock price stumbled amid concerning signs for the Mouse House. Shares of Disney were down 9.5%, to $105.41 per share, as of 11:30 a.m.

UPDATED with new exec comments. Disney CEO Bob Iger has offered more precise timing for Disney’s previously announced plan to crack down on password sharing on streaming flagship Disney+, saying it will start rolling out in June.

Todd Spangler NY Digital Editor Warner Bros. Discovery has jumped on the password-sharing crackdown bandwagon, with a top exec saying Max will begin enforcing restrictions on subscribers sharing accounts outside their household starting this year — following the trail blazed by Netflix, which was more recently joined by Disney.

Todd Spangler NY Digital Editor Disney has recruited Hugh Johnston, a 34-year veteran of PepsiCo, as chief financial officer. He steps into the role left vacant after former CFO Christine McCarthy’s exit from the Mouse House was announced earlier this year. Johnston assumes the Disney CFO job effective Dec.

crisp fans after a major producer warned our favourite snacks are facing several price hikes.The cost of popular bags including Walkers, Wotsits, Doritos and Monster Munch are likely to soar at the checkouts.PepsiCo, which owns the brands, blamed supply chain problems, spiralling commodity costs and labour shortages.The global food giant’s soft drinks, such as Pepsi, 7up, Tropicana and Copella, will also go up.Finance chief Hugh Johnston warned: “We will have a better handle on where exactly 2022 costs are going to land as we get into the first quarter of 2022, but I would expect us to price a bit more reflective of the higher costs we are seeing already.“I do expect there will probably be some price increases in the first quarter of next