Stocks fall to start short week | Disney jumps on Iger’s return | Wall Street loves these Nasdaq names

Stocks slipped Monday, kicking off a holiday-shortened week of trading.

VIEW IN BROWSER | SUBSCRIBE MON, NOV 21, 2022 EVENING BRIEF AS OF MON, NOV 21, 2022 • 04:59 ET DJIA +% + S&P 500 +% + NASDAQ +% + Most Active DOW NAME LAST CHG %CHG DIS 97.58 +5.78 +6.30% AAPL 148.01 -3.28 -2.17% INTC 28.94 -0.93 -3.11% S&P 500 NAME LAST CHG %CHG TSLA 167.87 -12.32 -6.84% AMZN 92.46 -1.68 -1.78% DIS 97.58 +5.78 +6.30% NASDAQ NAME LAST CHG %CHG TSLA 167.87 -12.32 -6.84% AMZN 92.46 -1.68 -1.78% AAPL 148.01 -3.28 -2.17% EDITOR'S NOTE The big story on Monday — the first day of a shortened week due to Thursday's Thanksgiving holiday — was the outperformance of Disney shares, which jumped after the company abruptly changed leaders.    The company's stock surged 6.3% Monday after Disney announced Sunday that former CEO Bob Iger would come out of retirement to immediately replace Bob Chapek, who had been at the helm of the entertainment giant since February 2020.    The news comes after Disney reported disappointing earnings earlier in the month.   Analysts cheered the change, saying that Iger would be able to turn the company around. MoffettNathanson even upgraded shares of Disney to "outperform" from "market perform." The firm also boosted its price target, saying the stock could surge more than 30% with new —  or rather, old —  leadership.    Disney is highly rated by Wall Street. Most analysts rate shares a "buy," and the upside to the consensus price target is about 23%, according to FactSet data.    But on Monday, one major firm went against the rest of the group. JPMorgan analyst Philip Cusick — who has an overweight rating on the media company —  cautioned investors that they might be too late to take advantage of any upward momentum in shares in the near-term.    JPMorgan already recommended that investors buy Disney in its post-earnings selloff and see little upside to the shares from today's move through the end of the year. There aren't any public appearances scheduled in the fourth quarter, meaning any comment from Iger before earnings is optimistic, Cusick wrote.   In addition, it's unlikely that Iger will be able to make any major changes in the near term, aside from potentially accelerating the planned purchase of Comcast's stake in Hulu.    Disclosure: Comcast's NBCUniversal is the parent company of CNBC. Carmen Reinicke | Investing Reporter at CNBC Pro @csreinicke Watch our live stream for all you need to know to invest smarter. Watch Live TOP NEWS Stocks close lower to begin holiday week. Disney shares jump 6% Disney blindsided Chapek with CEO decision after reaching out to Iger on Friday Collapsed crypto exchange FTX owes top 50 creditors over $3 billion, new filing says Oil prices lower as outlook grows bearish. Traders fear weak China demand more than impact of Russian sanctions Sam Bankman-Fried tries to broker FTX bailout from his home in the Bahamas, despite being booted from the crypto company Coinbase shares tumble as bitcoin slide continues, investors fear contagion from FTX collapse Wall Street loves these Nasdaq stocks that could lead the beaten-down index higher going forward Grayscale refuses to share proof of reserves due to 'security concerns' as shares trade at a 45% discount to bitcoin Ukraine civilian death toll from war tops 6,500; NATO assembly seeks special tribunal on Russian aggression If rail strike begins, 'I think every union' will honor picket line, says BLET president TOP VIDEO San Francisco Fed's Mary Daly says it's entering a difficult time of tightening CNBC PRO These are the energy stocks Josh Brown and Joe Terranova like through the end of 2022 SPECIAL REPORTS What borrowers need to know while student loan forgiveness is in limbo Why charitable individual retirement account transfers should be the 'first source of giving' for certain retirees Unsubscribe Digital Products Manage Newsletters Feedback Terms of Service Privacy Policy Join the CNBC Panel © 2022 CNBC LLC. All rights reserved. A property of NBCUniversal.   900 Sylvan Avenue, Englewood Cliffs, NJ 07632   Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis.   Data also provided by THOMSON REUTERS