Shares of Walt Disney Co. DIS, -7.07% sank 5.6% premarket toward a 10-month low in premarket trading Thursday, enough to be the biggest decliner among S&P 500 SPX, +0.06% components ahead of the open, in the wake of the entertainment giant’s disappointing fiscal fourth-quarter results and downbeat outlook for its Disney+ streaming service. The stock was on track to open at the lowest price seen during regular-session hours since January, and was headed for the biggest one-day selloff since dropped 7.8% on June 11, 2020. The stock’s implied price decline would shave about 64 points off the Dow Jones Industrial Average’s DJIA, -0.44% price, while Dow futures YM00, +0.15% rose 35 points, or 0.1%.
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