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SBD/August 10, 2011/Finance
Walt Disney Co. Beats Wall Street Expectations Thanks In Part To ESPN
Published August 10, 2011
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TAKING A TUMBLE TODAY: The WALL STREET JOURNAL’s Jonathan Chang reports U.S. stocks “slumped again" this morning, with all 30 of the Dow Jones components “in negative territory.” Disney was the “steepest decliner among the Dow components, tumbling 11% after the blue-chip media and entertainment conglomerate reported results that topped analyst expectations, but raised analyst concerns about decelerating advertising rate growth” (WSJ.com, 8/10). Disney shares “fell to a new 52-week low in early Wednesday trading” (HOLLYWOODREPORTER.com, 8/10). At presstime, shares of Disney were trading at $31.23, down 10.01% from yesterday's close of $34.70 (THE DAILY).