Disney Announces Star Wars Series, Netflix Slides

Shares of Netflix sank 1.9% Thursday morning. The slide came following Disney's announcement that it had signed Jon Favreau to direct a live action Star Wars series for its competing streaming product. Favreau is the director of Iron Man and The Jungle Book.
Disney was up about 0.4% Thursday morning.
Details of Disney’s direct-to-consumer streaming product are still scant. Wall Street, though, has high hopes for its potential when it launches in 2019.