Walt Disney Co. shares DIS are up 7.5% in Thursday trading and on track for their best day in nearly three years. The stock is on pace to register its largest one-day percentage gain since Dec. 11, 2020, when it rose 13.6%, according to Dow Jones Market Data. The stock is the best performer in the Dow Jones Industrial Average DJIA and the second best performer in the S&P 500 SPX with about two hours left in the session. Thursday’s rally follows Disney’s upbeat earnings report an afternoon earlier. “Our key takeaway from the report and call is the same as last quarter, which is that DIS is making progress against management’s lengthy to-do list,” Goldman Sachs analyst Brett Feldman wrote in a note to clients. “The most notable area of traction, in our view, is against DIS’s cost savings initiatives.”
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