Mortensen Cancels Appearance On WEEI Callaway Golf Reports Mixed Q2 Results CDI Reports Record Quarterly Revenue Providence Equity, WPP Eye $547M Chime Takeover CBS, ESPN Reach Sub-License Deal For MVC Iger Talks ESPN Going Straight To Consumer Cowherd's Tenure At ESPN Ends Early DraftKings Closes On $300M Series D Round ESPN To Air Cowboys Training Camp Special Bryant Helping Relaunch Of The Undefeated
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).