The Dow Jones Industrial Average (^DJI 0.59%) was down 0.19% at 2:15 p.m. EST Friday as trade deal optimism ebbed. President Donald Trump said that the U.S. has not agreed to roll back tariffs on Chinese goods in the lead-up to the expected signing of the first phase of a trade deal.

Shares of Disney (DIS -1.18%) were solidly higher after the media company's quarterly results came in ahead of expectations. Moving in the opposite direction, Boeing (BA -0.65%) stock fell after more cracks were found in its 737 NG aircraft.

Disney beats estimates

Less than a week before the launch of the Disney+ streaming service, Disney delighted investors with its fiscal fourth-quarter results. The entertainment giant beat analyst estimates across the board, with revenue boosted by the acquisition of Twenty-First Century Fox. Earnings per share did take a tumble, but the decline was due to a negative impact from the acquisition and taking full operational control of Hulu. The blue chip stock was up 3.2%.

Disney+ displayed on a TV.

Image source: Disney.

Disney reported fourth-quarter revenue of $19.1 billion, up 34% year over year and $80 million ahead of analyst expectations. Non-GAAP (adjusted) earnings per share came in at $1.07, down from $1.48 in the prior-year period but $0.10 better than the average analyst estimate.

While overall net income fell, total segment operating income rose 5% year over year. The media networks segment suffered a small decline, thanks in part to ESPN, but the company's parks and movies more than picked up the slack.

Disney+ won't have a positive impact on earnings for years as Disney invests in growing the service, but it has the potential to become a huge source of revenue and profits in the long run, partly because the company's content has broad appeal.

"The viewing patterns in the Netherlands test were also encouraging. Even without access to our full library or any original content, the service connected with users across all four quadrants male and female, adults and kids, driven by the breadth of our content and the affinity people of all ages have for it," CEO Robert Iger said during the earnings call regarding a pre-launch test of Disney+ in the Netherlands.

With solid results and the launch of Disney+ looming, Disney investors have a lot to be happy about.

More cracks in Boeing planes

The global grounding of the 737 MAX isn't the only safety crisis Boeing is facing. The aerospace giant reportedly grounded 50 of its older 737 NG planes in late October due to structural cracks, and it now seems the cracking problem has escalated.

Reuters reported late Thursday that Indonesian airline Lion Air has found cracks in two 737 NG planes with fewer flights than the threshold set by the U.S. Federal Aviation Administration for checks. The FAA began requiring operators of some 737 NG aircraft to inspect for cracks in September.

This development could lead the FAA to require inspections for a broader set of 737 NG planes. Shares of Boeing were down 1.2% Friday, although the stock is still up nearly 10% year to date.

Only 5% of the 737 NG planes inspected under the current FAA threshold had issues, according to Boeing. Around 1,000 aircraft are currently subject to inspections.