What's Going On With Disney Stock Today?

Walt Disney Co DIS shares are volatile Thursday morning after Trian Partners sent a letter to Disney shareholders, urging them to vote activist investor Nelson Peltz onto the board.

What To Know: In early January, Trian Partners nominated Peltz for election as director at Disney's annual meeting in opposition to the nominees recommended by the board.

"While senior leadership of The Walt Disney Company and its Board of Directors have engaged with Mr. Peltz numerous times over the last few months, the Board does not endorse the Trian Group nominee, and recommends that shareholders not support its nominee," Disney said at the time.

Now Trian is urging investors to go against board recommendations, citing Disney's poor performance in recent years. Trian noted that Disney lost $120 billion in market value last year. The company eliminated its dividend in 2020 for the first time in 57 years and earnings have fallen by 50% since 2018.

"For a company with so many advantages – unparalleled consumer loyalty and access, valuable intellectual property, renowned brands, an enviable library of content and a talented and engaged workforce – it is disappointing and simply unacceptable that shareholders have suffered so much, "the new letter to shareholders states.

"Together, let's restore the magic at Disney by voting 'FOR' Nelson Peltz."

Disney is set to release its fiscal first-quarter results after the close on Feb. 8. The company is expected to report first-quarter earnings of 77 cents per share on quarterly revenue of $23.29 billion, according to Benzinga Pro.

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DIS Price Action: Disney has a 52-week high of $157.50 and a 52-week low of $84.07.

The stock was up 1.47% at $110.99 at time of publication.

Photo: StockSnap from Pixabay.