1138 ET - Chris Marangi, co-chief investment officer of value at Gabelli Funds, says that he's surprised to see Disney shares trading lower. "If you dropped in from another planet and saw operating income down 9% and adjusted EPS down 7%, you'd probably say that's not great," he says in a note. "But in the fuller context, those are actually pretty solid numbers as the company transitions from traditional linear distribution to direct-to-consumer." Disney has done a good job navigating the challenges facing the secular media business, and the company is outperforming many of its competitors, Marangi says. Meanwhile, the value of its Experiences unit, which includes theme parks and cruises, is likely to continue to grow as AI increasingly dominates the media landscape. Shares fall 4%. (connor.hart@wsj.com)

(END) Dow Jones Newswires

February 02, 2026 11:38 ET (16:38 GMT)

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