Wall Street Downgrade Causes Disney Stock Slump.

Disney's stock fell about 2% after a Wall Street downgrade by Macquarie analyst Tim Nollen, who cited declining linear networks, direct-to-consumer hurdles, and a slowing parks business as reasons for the downgrade. Nollen also expressed concern about Disney's ability to reach streaming profitability by 2024 and the potential for extended direct-to-consumer operating losses. Additionally, the future of ESPN as a fully over-the-top streaming service remains uncertain.