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MARKETS LIVE BLOG:

STOCK FUTURES SLIDE AFTER META'S REALITY CHECK, WITH GDP ON DECK

Owner of Facebook and Instagram plans to spend up to US$10B on AI infrastructure investments

Stocks moving in after hours: Disney, KB Home

Ines Ferré
·Senior Business Reporter
Updated ·1 min read

Disney (DIS)

Tokyo, Japan: Minnie Mouse in the red coat waving her hand in daytime Parade at Tokyo-Disneyland, Tokyo, Japan.
Tokyo, Japan: Minnie Mouse in the red coat waving her hand in daytime Parade at Tokyo-Disneyland, Tokyo, Japan. (MrNovel via Getty Images)

Shares of media giant Disney rose in after hours following the announcement of Mark Parker as chairman of the board. Parker has been executive chairman of Nike and has been a member of the board of Disney for the last seven years.

Parker will succeed Susan Arnold, who will not stand for re-election due to the 15-year term limit under Disney's policy. He will take over the role of chairman following the company's 2023 annual shareholder meeting.

In Wednesday's announcement, Disney also recommended shareholders vote against activist investor Nelson Peltz in his efforts to win a seat on the company's board.

KB Home (KBH)

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Shares of KB Home fell in after hours after the homebuilder's net orders for its latest quarter missed estimates. Fourth quarter net orders came in at 692, a decrease of 80% year over year. Wall Street analysts were expecting 2,013 net orders. The company's earnings per share came in at $2.47 versus expectations of $2.86.

Revenue of $1.94 billion grew 16% year-over-year, coming in just shy of the $1.99 billion expected by analysts.

Ines is a senior business reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

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