Disney (DIS.US) shares jumped nearly 9.0% before the opening bell after the weekend announcement that former Chairman and CEO Bob Iger is returning as chief executive, with Bob Chapek stepping down immediately. The executive suite change follows a slide in Disney’s stock price and disappointing quarterly results. Iger acted as company's CEO from March 2005 to February 2020 and executive chairman from February 2020 to December 2021. Iger signed a two year contract with Disney to set the strategic decision for the firm and to help find a successor.
Disney (DIS.US) stock rose sharply in premarket and is currently approaching major resistance around $104.60, which is marked with downward trendline and 78.6% Fibonacci retracement of the upward wave launched in March 2020. Source: xStation5
