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Stock Market Today With Jim Cramer: Disney Pivots, Positively

The story on Disney is changing as the company focuses more on omnichannel, and Jim Cramer is pleased.

Stocks were falling Friday after surging inflation led to an unexpected decline in U.S. consumer sentiment in early July.

Consumer sentiment, according to the University of Michigan survey, fell to 80.8 in early July, a five-month low, and down from 85.5 during the previous month. The media projection of economists, according to Bloomberg, was 86.5.

Cramer Says Story on Disney Has Changed

The investing-club portfolio tied to Jim Cramer's Action Alerts PLUS charitable trust earlier this year closed out its position in Disney,  (DIS) - Get Report but now that the entertainment giant's focus has shifted, Cramer may be interested in getting back in on the media giant. 

Chief Executive Bob Chapek is "beginning to talk much more omnichannel. He's talking much more about the parks, which are the gem," Cramer said from the floor of the New York Stock Exchange. 

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Chapek, Cramer said, "is pivoting and talking about omnichannel, and that is a much better story than just talking endlessly about Disney+."

The company also just raised the price for a subscription to ESPN+. 

Disney said it would increase the prices of ESPN+ by $1 to $6.99, starting Aug. 13, the second price increase this year. The annual plan will cost $10 more at $69.99, Disney said, raising the annual price by about $20 this year alone.

The fees for those getting a bundle of all of Disney's streaming services, including Hulu and Disney+, will remain unchanged, and there will be no changes to its UFC pay-per-view prices. That bundle costs $13.