Disney was downgraded to underperform at BMO Capital. The investment bank slapped an $88 price target on the stock.
Cramer on how to play the Disney downgrade.
The streaming media giant announces a deal for Jerry Seinfeld's popular online show, which had previously aired on Sony's Crackle, just prior to reporting fourth-quarter earnings.
Stocks struggle for direction on Wednesday as a strengthening U.S. economy reinforces the chances of several rate hikes this year.