Live from the NASDAQ Market site overlooking New York City's Times Square, this is fast money.

I'm Melissa Lear.

Traders on the desk for Tim Seymour, Karen Finerman, Dan Nathan and Guyadami.

Disney getting dinged shares tumbling after an earnings miss.

The company's conference call is now underway.

We'll break down all the big headlines.

We are also watching shares a win and match both stocks on the move after reporting

results.

And we are all over today's

rallies stocks seeming to bounce back after the worst sell-off of the year so is

this an all-clear we'll debate that but we begin but the big mover after hours

Disney's thinking after reporting and earning

miss, let's get straight to Julia Borsen who's got all the details Julia.

Well Melissa in his comments on the call, Disney CEO Bob Biger, stressing

that the lower than expected results in the quarter are really

the result of the big changes that he has implemented at the company.

Both the Fox acquisition and Disney's pivot to embrace the streaming direct to consumer business which they're investing in so much right now.

Now, Eiger just announced that consumers will be able to subscribe to a bundle of their services for 1299.

They'll get Hulu, E-S-P-N, and Disney Plus.

Worth noting that that's the same cost as Netflix. Take listen to his comments here.

Now, our results reflect our efforts to integrate the assets, businesses, and talent we acquired in order to enhance and advance our strategic transformation.

Implementation of our integration plan is well underway, a complex process given the magnitude of the endeavor, and we remain confident in our ability to successfully execute our strategy.

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