Walt Disney Co.’s stock DIS is by far the Dow Jones Industrial Average’s DJIA biggest premarket decliner on Thursday, and the only one that is down more than 1%, but it’s accounting for less than half of the Dow futures’ YM00 decline. Disney’s stock dropped 5.8% in premarket trading after the media and entertainment giant’s disappointing first-quarter report. The implied price decline would shave about 39 points off the Dow’s price, while Dow futures slid 95 points, or 0.3%. In comparison, futures ES00 for the S&P 500 SPX were down 0.1%. Among the Dow’s other biggest premarket losers, shares of Microsoft Corp. fell 0.4%, American Express Co. lost 0.3% and JPMorgan Chase & Co. gave up 0.3%. The implied price declines of those three stocks would knock a combined 14 points off the Dow’s price.
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