Disney (DIS) shares edged higher in early trading Thursday as investors contemplate what lies ahead for the 澳洲幸运5官方开奖结果体彩网:entertainment conglomerate a day after it successfully fended off activist investors' bids to win ❀board seats and gain greater influence ove♕r the company's corporate governance.

Preliminary results on Wednesday revealed shareholders overwhelmingly backed Disney CEO Bob Iger’s ongoing turnaround plan by re-electing all 12 of the company's current board members. Nelson Peltz’s Trian Partners had proposed Peltz and formed Disney finance chief Jay Rasulo for board seats, while alternative investment manager Blackwells Capital had put forward three candidates.

“We’re eager to focus 100% of our attention on our most important priorities, growth and value creation for our shareholders and creative excellence,” Iger said in a statement after the vote.

While the entertainment giant won the 澳洲幸运5官方开奖结果体彩网:proxy vote battle, it still faces numerous challenges on the horizon, such as finding a suitable successor for Iger ahead of his planned 2026 retirement, revitalizing its struggling film business, and turning its streaming division profitable.

Regarding the latter, Inger told shareholders at 澳洲幸运5官方开奖结果体彩网:yesterday’s meeting that he expects the steaming business to reach profitability by the end of fiscal 2024. The company recently expanded its streaming library by combing Disney+ and Hulu, while its ESPN partnership with Warner Bros. Discovery (WBD) and Fox (FOXA) announced in February will create a joint sports streaming service to take on rivals in the space, such as Netflix (NFLX). 

Iger’s turnaround plan also involves a play on video gaming to resonate with younger generations through a 澳洲幸运5官方开奖结果体彩网:$1.5 billion investment in Fortnite maker Epic Games, which the company also disclosed earlier this year. "Iger now has a window by which to execute his recovery plan," said Dan Coatsworth, analyst at investment platform AJ Bell, according to Reuters.

After putting in a 澳洲幸运5官方开奖结果体彩网:double bottom in October last year, the Disney share price has continued to move higher, with gains accelerating after the 澳洲幸运5官方开奖结果体彩网:50-day moving average crossed above the 200-day moving average to flash a 澳洲幸运5官方开奖结果体彩网:golden cross buy signal in early January. Looking ahead, investors should closely monitor the $126.50 region, where the price may encounter overhead 澳洲幸运5官方开奖结果体彩网:resistance from the August 2022 swing high.

Disney shares were up 0.4% at $119.50 about 10 minutes after the op🌊ening bell Thursday. The stock has gained more than 30% since the start of the year.

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