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Disney Gains After ‘Mulan’ Fuels Optimism About Streaming Growth
- Installations of Disney+ app rose 68%, Sensor Tower finds
- Pandemic forced studio to forgo U.S. theater debut for movie
Walt Disney Co. shares rose the most in more than in a month, fueled by optimism that the online release of “Mulan” will bolster the company’s position in streaming.
The shares gained as much as 3.9% to $137.14, the largest intraday increase since Aug. 4, after preliminary data from researchers suggested that that “Mulan” helped spur downloads of the Disney+ app. Deutsche Bank AG also upgraded Disney to a buy recommendation from a hold, citing its streaming prospects.