Wall Street says you can go home again, as shares of Walt Disney Co. spiked Monday on the news that Bob Iger is returning as chief executive of the media and entertainment company.
The stock closed up more than 6%, trading at $97.58 a share. The closing price on Friday was $91.89.
Iger was named chief executive late Sunday night, replacing his successor, Bob Chapek, whose exit was partly blamed on the company’s most recent lackluster earnings report. Disney recently announced cost cuts, including a hiring freeze.
