Walt Disney Co DIS has a big May ahead for investors and fans with several new items being released and announced and quarterly earnings on deck. Here's a look at what’s in store.
What Happened: May 4 is celebrated as a holiday for Disney thanks to its $4.05 billion acquisition of Star Wars parent company Lucasfilm in 2012.
The day coincides with the famous phrase “may the force be with you” in the Star Wars franchise. Disney launches new products to coincide with the annual event, but the company may have the force behind it with several exciting events coming throughout the entire month.
Star Wars Celebration: The 2022 Star Wars Celebration will take place May 26 through May 29 at the Anaheim Convention Center. The event launched in 1999 and has happened about every one to three years with the most recent event held in 2019.
Star Wars Celebration features actors from the franchise and is also used as a place to announce new shows and movies. A recent report said the celebration will be used to announce a new Star Wars animated anthology.
The Verge reports that a panel could confirm the launch of “Tales of the Jedi,” based on a comic of the same name. The plot centers around the Old Republic era before the events of “Star Wars IV: A New Hope.
Obi-Wan Kenobi Show: The highly anticipated “Obi-Wan Kenobi” series will be released May 27 on the Disney+ streaming platform. The show was originally set to be released on May 25, but instead, viewers will get two episodes on release day to make up for the two-day delay.
The show was ranked as one of the top 10 most anticipated new series of 2022. “Obi-Wan Kenobi” will face some competition in the form of a new season of “Stranger Things” from rival Netflix Inc NFLX.
The new Star Wars series will be released over the Memorial Day weekend, which could provide a boost with an extra day to stream the show for many. Disney has had success with several Star Wars shows on Disney+ including “The Mandalorian” and “The Book of Boba Fett.”
Given the anticipated demand for the show, investors and analysts may want to see "Obi-Wan Kenobi" rank as a top 10 streaming show across all platforms and also put up numbers similar to other Star Wars Disney+ shows.
Related Link: If You Invested $1,000 In Disney When They Acquired Lucasfilm, Here's How Much You'd Have Now
Star Wars Anniversary: The original release date of “Obi-Wan Kenobi” of May 25 coincided with the anniversary date important to the Star Wars world. The original “Star Wars IV: A New Hope” was released in theaters on May 25, 1977, making this year the 45th anniversary. May 25 also served as the theatrical release date for “Return of the Jedi” and “Solo.”
Could Disney have a surprise announcement up its sleeve related to the anniversary?
Disney Earnings: The company is set to report quarterly earnings on May 11 after market close. The report comes as shares have slumped down near 52-week lows. Disney reported revenue of $21.8 billion in the first quarter, which easily beat consensus estimates of $18.6 billion, according to data from Benzinga Pro.
Disney has beat revenue estimates in each of the last three quarters. While a lot of the attention will be on streaming subscribers for Disney+ given a loss of subscribers by Netflix in the latest quarter, attention could also turn to the parks and resorts segment, which saw unprecedented demand in January and February.
DIS Price Action: Disney shares traded at $113.65 on Tuesday versus a 52-week range of $111.01 to $189.22.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
