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Studio and streaming company stocks rally after Hollywood’s actors union reaches tentative deal to end strike

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Ciara Linnane is MarketWatch's investing- and corporate-news editor. She is based in New York.

The stocks of studios and streaming companies were mostly higher early Thursday, after Hollywood’s actors union reached a tentative deal with studios to end its strike, ending months of labor strife that ground the film and television industries to a historic halt, as the Associated Press reported. While union members have yet to vote on the three-year contract agreement, the leadership declared that the strike will end at 12:01 a.m. on Thursday.

was slightly higher and Walt Disney Co. DIS, -0.11% was up 3.9%, also benefiting from earnings that beat estimates, a huge jump in streaming users and a vow to increase annual cost cuts to $7.5 billion, from $5.5 billion. Comcast Corp. parent to Universal studio, was down slightly.

 

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