Jim Cramer Latest Stocks: 23 Stocks He Just Talked About

9. The Walt Disney Company (NYSE:DIS)

Number of Hedge Fund Holders In Q3 2024: 76

The Walt Disney Company (NYSE:DIS) is a multimedia and entertainment giant and a household name. The shifting winds in the media industry created by the rise of streaming services have created trouble for the firm in 2024. By mid-November, The Walt Disney Company (NYSE:DIS)’s stock was up by a modest 13% year-to-date as it battled an 8% revenue and 22% operating income drop in Q1. However, since mid-November’s Q3 report, the shares have gained 8.42%. During Q3, The Walt Disney Company (NYSE:DIS)’s streaming operating profit sat at $322 million and an overall profit of $47 million. The overall profit was the first in history, and Cramer thinks a turnaround is in sight:

“You know that I have turned positive on Disney. Hugh Johnson, CFO is helping too. Well Morgan Stanley, I think they agree with me. Now they take a, they really have a top pick situation, and they ask Spotify, which by the way they raised the price target, Spotify is a great subscription model. But they did swap it for Disney, David, substantial streaming profits coming, password crackdowns, and best of all, they are now part of the distribution is king metaphor.

“. . . ESPN, these are no longer hurting. The commercials, the commercials are good. They’re doing well.

“And I think the parks are gonna surprise, because travel and leisure is still good. So I think this makes sense, it’s pulled back. And it’s consolidated right here. I think it’s good. I liked the call very much. I really like what Hugh Johnson’s brought there by the way.”