Shares of Walt Disney (DIS) moved higher after the company at midday announced that its Disney+ streaming service reached 10M sign-ups since yesterday's launch. Following the news, Disney was up 4% to $143.74 while streaming competitor Netflix (NFLX) dropped 1% to $288.16. 

Disney is offering a seven-day free trial, so likely not all of the sign-ups represent customers who will continue to pay for the service, CNBC points out. In addition, Verizon Communications (VZ) is also offering its customers a free year of Disney+, which could further boost the subscriber numbers.