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Stock Market & Financial Investment News

News Breaks
February 4, 2014
12:25 EDTDISEarnings Preview: Analyst predicts Disney will report stronger than expected Q1
The Walt Disney Company (DIS) is scheduled to report first quarter earnings after the market close on Wednesday, February 5 with a conference call scheduled for 5:00 pm ET. The Walt Disney Company is a diversified international family entertainment and media enterprise with five business segments: media networks, parks and resorts, studio entertainment, consumer products and interactive media. EXPECTATIONS: Analysts are looking for earnings per share of 91c on revenue of $12.23B, according to First Call. The consensus range for EPS is 84c-97c on revenue of $11.92B-$12.54B. LAST QUARTER: Disney reported fourth quarter EPS of 77c against estimates for 76c on revenue of $11.57B against estimates for $11.4B. The company's media networks revenue was $4.95B vs. $4.88B a year prior and its parks and resorts revenue was $3.7B, up 8% from a year prior. The company reported its Q4 cable networks operating income $1.3B. Disney (DIS) Chairman and CEO Bob Iger disputed rumors that the company could be looking to sell its eight ABC TV stations. Iger commented, "These have been good assets for us... We don't comment about acquisitions or divestitures, but I don't think it would be wise to either predict or to conclude that these assets were on the market." NEWS: During the quarter, Disney raised its annual dividend 15% to 86c per share. The Wall Street Journal recently reported that Disney's interactive-media unit will cut "several hundred" people from its workforce, with cuts likely starting after the company's quarterly report. Earlier in the quarter, Disney's Pixar Animation Studios laid off less than 5% of its 1,200-person workforce following the delay of its upcoming film, "The Good Dinosaur." Disney elected Twitter's Jack Dorsey to its board of directors. Barron's said Discovery Communications (DISCA) could bid for Scrips Networks (SNI) and that may spark interest in Discovery by Disney, Viacom (VIAB) or Fox (FOXA). Hulu said on its blog that it will reach $1B in revenue in 2013, up from $695M in 2012. STREET RESEARCH: Stifel predicts that Disney will report stronger than expected Q1 results, and expects the company's results to generally be upbeat. Bernstein believes that Disney's stock probably doesn't adequately reflect the value of the A&E Television Network. The firm thinks the network's operating outlook is stable to improving, and it values the asset at $23.5B. B. Riley downgraded the stock to Neutral from Buy. PRICE ACTION: Year-to-date, Disney shares are down almost 7%. Over the last three months, Disney shares are up over 3%, and shares are up over 1.5% today ahead of tomorrow's earnings report.
News For DIS From The Last 14 Days
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August 29, 2014
15:46 EDTDISDisney jv A&E in talks for Vice Media stake after Time Warner backs out, FT says
A&E Networks, a joint venture owned by Disney (DIS) and Hearst Corporation, is nearing a deal to pay $250M for 10% stake in Vice Media after the digital media company and Time Warner (TWX) failed to come to terms on a deal, said Financial Times. 21st Century Fox (FOXA) already owns a 5% stake in Vice. Reference Link
August 28, 2014
07:26 EDTDISDisney submits patents for drones for entertainment uses, NY Post says
Disney has filed three patents for entertainment strategies that employ drones, such as the use of unmanned flying vehicles to move giant puppets, according to The New York Post. Reference Link
August 26, 2014
14:45 EDTDISESPN says Verizon signs deal to carry SEC Network
Verizon (VZ) FiOS has signed an agreement to carry the SEC Network and expects to begin airing it prior to Aug. 28, Disney's (DIS) ESPN announced. The deal also includes live viewing rights and additional live and on-demand content scheduled for SEC Network + across other platforms like smartphones, tablets and laptops. In addition, the deal also includes rights for the FiOS Mobile app, which will be available to FiOS customers in the near future. Terms of the deal were not disclosed.
09:35 EDTDISNetflix files formal protest against Comcast merger, Engadget reports
Netflix (NFLX) has filed a petition to the FCC against the proposed merger between Comcast (CMCSA) and Time Warner Cable (TWC), as the streaming company has previously indicated it would, reported Engadget. Netflix claims the deal would result in "serious public interest harm" and that a merged cable giant would have huge leverage over it and rivals like Hulu, which is a joint venture owned by Comcast itself along with partners Disney (DIS) and 21st Century Fox (FOXA). Reference Link

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