NEW YORK — Dec. 18, 2025. The Walt Disney Company (NYSE: DIS) closed higher on Thursday and was largely steady in after-hours trading, as investors weighed a fresh wave of upbeat analyst commentary against a still-evolving macro backdrop shaped by unusual inflation data and post-shutdown schedule disruptions.
Below is a detailed look at Disney stock after the bell on Dec. 18, 2025—and the key factors to watch before the U.S. stock market opens Friday, Dec. 19, 2025.
Disney stock price after the bell: where DIS stands heading into Friday
Disney shares finished Thursday’s regular session at $111.87, up about 1.12% on the day. The stock traded between $110.44 and $112.80, with the session beginning around $110.53 and volume near 12.9 million shares.
In after-hours trading, Disney shares were little changed from the close shortly after the bell. [1]
Why that matters: after-hours stability typically suggests there wasn’t a surprise late-day headline that materially altered investor expectations—setting Disney up to take its early cues Friday from macro news, index/fund flows, and overall risk sentiment.
Why Disney shares rose Thursday: the day’s biggest catalyst
The most market-moving Disney-specific development in Thursday’s news cycle: Wells Fargo named Disney its top media stock pick for 2026, highlighting potential upside tied to the company’s streaming strategy, theme parks, and cruise expansion. [2]
In that note (reported Thursday), Wells Fargo analyst Steven Cahall pointed to:
- Earnings upside potential even as Disney navigates structural pressures in linear TV
- A valuation case: Disney at roughly 16.6x forward earnings versus Netflix around 29.4x (as cited in the report) [3]
- Competitive and execution risks—like the buildout of Universal’s Epic Universe—but still framed Disney as a “bounce-back” candidate into 2026 [4]
Context check: Disney’s stock performance in 2025 has been comparatively muted, with the Wells Fargo/Barron’s coverage noting DIS up roughly 1.1% in 2025 versus about a 15% climb for the S&P 500. [5]
Other Disney headlines today that investors are tracking
Lucasfilm wins key legal ruling in the UK
A Disney unit, Lucasfilm, won a bid to throw out a UK lawsuit tied to the digital “resurrection” of actor Peter Cushing in Rogue One: A Star Wars Story, after a London appeals court ruled the claim couldn’t proceed on the legal theory presented. [6]
Why it matters for DIS stock: lawsuits like this usually aren’t core valuation drivers, but they can affect sentiment because they touch on IP rights, digital likeness usage, and potential precedent risk in entertainment production—an area growing more sensitive as studios use advanced VFX and AI-adjacent tools.
Oscars rights: a longer-dated Disney/ABC overhang
While not a “today-only” development, investors are still digesting Reuters reporting that the Oscars telecast will move from Disney-owned ABC to exclusive global streaming on YouTube starting in 2029, ending ABC’s long run as the show’s home after 2028. [7]
Market relevance: this is years away, but it underscores the continued economic pressure on broadcast TV events and could influence how investors think about the long-run earnings power of legacy linear assets.
Today’s forecast snapshot: where Wall Street sees Disney stock going next
Thursday’s analyst data and market commentary skewed constructive:
- Disney is described as having a “Moderate Buy” consensus (per MarketBeat’s compilation), with 19 Buys, 7 Holds, and 1 Sell. [8]
- MarketBeat’s cited average price target: ~$134.41, implying meaningful upside from the low-$110s level. [9]
- The same coverage referenced recent targets including Rosenblatt at $141 and Needham at $125 (examples of the current spread investors should understand). [10]
How to read this: A $125–$141 target range doesn’t mean Disney “should” trade there tomorrow. It suggests many analysts expect upside over a 12-month horizon, often contingent on streaming profitability progress, continued experiences strength, and manageable linear-TV declines.
What the market thinks Disney is right now: fundamentals investors revisit before the open
Several fundamental signposts were repeatedly referenced in Thursday’s analysis coverage:
- Disney’s Experiences business (parks and cruises) has remained a key support, while Entertainment has faced more volatility. [11]
- In the most recently discussed quarter in today’s coverage, Disney’s entertainment segment income was cited as down sharply while experiences rose (a reminder of the company’s current “two-speed” earnings profile). [12]
- MarketBeat’s recap also noted Disney’s most recent reported quarter (reported Nov. 13) showed EPS of $1.11 beating consensus $1.03, while revenue was slightly below expectations and down modestly year over year. [13]
The takeaway for Friday: DIS tends to trade as a “hybrid” name—part consumer discretionary (parks, cruises), part media/streaming, and part sports (ESPN). That means tomorrow’s direction can be influenced by both consumer-demand expectations and rates/valuation sentiment.
The technical setup: key levels traders will watch Friday
Thursday’s action placed Disney in a technically important zone:
- MarketBeat noted DIS trading between its 50-day moving average (~$109.15) and 200-day moving average (~$114.58). [14]
Practical interpretation:
- A sustained move above the 200-day is often read as a longer-term sentiment improvement.
- Failing to hold above/near the 50-day can attract short-term selling pressure, especially in choppy tape.
What to know before the market opens Friday (Dec. 19, 2025)
1) “Triple witching” can raise volatility—even for DIS
Friday, Dec. 19, 2025, is a triple-witching session (a major derivatives expiration day), which is associated with heavier volume and potential end-of-day volatility. [15]
Why Disney investors should care: large-cap, index-heavy stocks like Disney can see flow-driven moves as options and index exposures roll or expire—sometimes unrelated to fundamentals.
2) Macro data is still unusual after the government shutdown
Reuters reporting on Thursday emphasized that the U.S. inflation picture is being complicated by the aftermath of a historic 43-day government shutdown, which disrupted data collection and publication—including the CPI structure and timing. [16]
That matters because Disney’s valuation—like many large-cap consumer/media names—can be sensitive to shifting expectations for:
- the Fed’s interest-rate path
- real consumer purchasing power
- recession vs. soft-landing probabilities
3) Watch the calendar: key BEA releases originally set for Dec. 19 have been rescheduled
If you were expecting a major Personal Income and Outlays / PCE inflation data drop on Dec. 19, note the BEA’s schedule updates:
- The BEA said Personal Income and Outlays (November 2025)—originally scheduled for Dec. 19—was rescheduled, and the BEA’s release schedule shows a new date of Dec. 23 (8:30 a.m.). [17]
Why this matters before Friday’s open: a “missing” headline macro release can change the day’s catalyst map—meaning Friday could trade more on positioning, Fed commentary, and risk appetite than on a single data print.
4) Fed speakers and sentiment data can still move rates—and DIS
Even with some government releases shifting, markets still react to scheduled Fed communication and non-government indicators. Market calendars list Fed appearances (including New York Fed-related scheduling) around Friday. [18]
For Disney specifically, anything that moves Treasury yields (or consumer confidence expectations) can ripple into DIS because investors often bucket it with other consumer-sensitive mega-caps.
The one-page “what to watch” checklist for Disney stock tomorrow
Going into Friday’s open (Dec. 19, 2025), here’s the checklist most likely to matter for DIS:
- Premarket risk tone: index futures, yields, and whether Thursday’s rally holds
- Options-expiration effects: triple witching can amplify late-day swings [19]
- Macro narrative after CPI: markets are still digesting inflation data distorted by shutdown-related gaps [20]
- Calendar reality: key BEA releases originally slated for Dec. 19 have been pushed (notably Personal Income and Outlays) [21]
- Disney-specific sentiment: continued follow-through from the Wells Fargo “top pick” call and valuation framing [22]
- Headline risk: legal/IP developments (like the Lucasfilm ruling) and broader media-rights shifts [23]
Bottom line for DIS stock after hours
Disney stock ends Dec. 18 with modest momentum, backed by a prominent bullish analyst framing and a steady after-hours tape. [24]
But for Friday, investors should expect Disney’s next move to be driven less by a single company headline and more by market mechanics (triple witching), interest-rate sensitivity, and post-shutdown data/calendar distortions—with Disney’s longer-term bull vs. bear debate still anchored in streaming execution and experiences demand. [25]
References
1. www.marketwatch.com, 2. www.barrons.com, 3. www.barrons.com, 4. www.barrons.com, 5. www.barrons.com, 6. www.reuters.com, 7. www.reuters.com, 8. www.marketbeat.com, 9. www.marketbeat.com, 10. www.marketbeat.com, 11. www.barrons.com, 12. www.barrons.com, 13. www.marketbeat.com, 14. www.marketbeat.com, 15. www.britannica.com, 16. www.reuters.com, 17. www.bea.gov, 18. www.marketwatch.com, 19. www.britannica.com, 20. www.reuters.com, 21. www.bea.gov, 22. www.barrons.com, 23. www.reuters.com, 24. www.marketwatch.com, 25. www.britannica.com
