Stock futures rose modestly Friday following a third straight closing record for the S&P 500 as investors weighed an improving employment picture against ongoing inflationary pressures in the recovering U.S. economy.
TheStreet's Jim Cramer discussed Disney's (DIS) - Get Walt Disney Company Report earnings, vaccinations and other issues with the media giant's CEO, Bob Chapek, during one of the Executive Decision segments on "Mad Money."
Disney shares at last check were up 4.6% to $187.70 after the entertainment powerhouse smashed Wall Street's third-quarter earnings forecasts. Its theme parks returned to profit and growth in streaming subscribers was better than expected.
Chapek said the Burbank, Calif., company's biggest strength will always be its storytelling abilities. The company has many different platforms from which to do that storytelling, one of which is direct-to-consumer with Disney+ streaming and the other is the theme parks.
Disney CEO: 'The Greater Good'
Chapek said that during the pandemic, while most of its businesses were shut down, Disney used that time to transform and improve its customer experiences
The CEO had said the company believed its parks could continue to recover despite rising COVID concerns.
He defended the company's decision to require salaried and nonunion employees to be vaccinated against COVID-19.
The issue of corporate and government mandates has sparked a great deal of controversy.
Capak said that Disney would like to convince employees that "it’s in everyone’s best interest in order to get vaccinated for the greater good ... and the greater good includes our guests."
A growing list of companies are requiring employees to be vaccinated as they attempt to reopen after the COVID-19 pandemic shutdown.
Citigroup (C) - Get Citigroup Inc. Report recently said that starting Sept. 13, employees in the New York area, Chicago, Boston, Washington and Philadelphia will be required to return to the office at least two days a week and be vaccinated.
Chapek said that Disney believes "that vaccinations are the key to really mitigating the impact of this pandemic."