Disney Gives Tepid Outlook as It Prepares for a New CEO (1)

Walt Disney Co. shares slid after the world’s biggest entertainment company gave a tepid forecast for growth in the current period and the market awaits news on who will be its new leader.

Disney said it expects challenges attracting international tourists to its domestic parks in its fiscal second quarter and warned of ongoing increased costs for sports rights. The forecast overshadowed results for the quarter ending Dec. 27 that were boosted by record sales at its theme parks division.

The stock fell as much as 8% at the market open in New York, the biggest intraday decline since November. ...