The Wall Street Journal is reporting that Disney (DIS) is putting expansion of its Hong Kong theme park on hold and laying off the employees involved in developing the expansion plans. The Hong Kong Park has been a disappointment almost from the day the gates opened. DIS owns it in partnership with the Hong Kong […]
On Friday, I sold all Northlake client positions in Disney and News Corporation. This is a big deal fro me as media stocks are my area of expertise and I believe that these are the two best managed, fast growing companies with the most optimistic long-term competitive positioning. I’ve owned Disney for more than three […]
Disney easily beat estimates with EPS of 58 cents coming in well ahead of the 51 cents consensus estimate. Here are the comments I posted on the quarter on RealMoney.com before and during the conference call. Alos, please find the earnings summary produced by Gary Dvorchak, my colleague at Real Money. 03:14 CST: Based on […]
Disney announced a new production studio, Disneynature. The studio will produce major motion picture documentaries “about the world in which we live.” The first film, titled “Earth,” will be released on Earth Day 2009. The film is being produced by the BBC and members of same team that created the Planet Earth series. The press […]
I remain long Disney across Northlake client accounts including my own accounts. Down just 3%, the shares have acted fairly well this year compared to many other media investments, particularly those with significant advertising exposure. Performance of the shares in the near future is a battle between the possibility that the economy drags down earnings […]
Disney reported an exceptional quarter. EPS of 63 cents and revenues of $10.45 billion crushed estimates of 52 cents and $10.04 billion. Revenue growth was 9% and operating income gained 15% vs. expectations of 3%. Non-recurring items contributed no more than 2 cents to the EPS number. On the conference call, management indicated that so […]
Disney is expected to report its weakest growth quarter in several years but I do think investors should interpret it as the end of Disney’s multiyear run of superior financial results. Tough comparisons and the challenges of a weakening consumer are driving the slower growth but there is a good chance Disney will beat estimates […]
Disney reported 4Q07 EPS of 42 cents adjusted for a tax benefit compared to consensus of 41 cents. Revenues of $8.93 billion matched the $8.98 million consensus. Comparing the segment numbers to my spreadsheet shows a remarkable closeness. This is actually one the things I like about Disney: the company is very tightly managed and […]
Disney is expected to report strong 4Q07 financial performance capping another great year. For 4Q, consensus calls for EPS of 42 cents, up 17%, on revenues of $9 billion, up 2%. Operating income, a key metric for Disney investors, is expected to rise 14%. Estimates are unchanged since the last quarterly report although the tone […]
While preparing my fourth quarter box office preview column last week, I came across some interesting and positive data concerning Disney. One of the worries for Disney this year has been the tough comparison at the movie studio due to the phenomenal success last year of Pirates of the Caribbean: Dead man’s Chest and Cars. […]
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