Disney estimates downgraded on negative COVID-19 impact

Shares of the Walt Disney Company (NYSE: DIS) took another beating this week after the company was forced to postpone the release of two major movies. Needham’s analyst Laura Martin downgraded revenue estimates.  Fundamental analysis: Continued negative COVID-19 impacts Disney dealt another blow to the embattled cinema industry after postponing releases of the new “Black Widow” movie and Spielberg’s “West Side Story” until next year. These two are regarded as two biggest releases scheduled for this year in Hollywood.  The superhero movie Black Widow will now debut most likely in May 2021, while West Side Story will arrive at the