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The Walt Disney Company (DIS)

  • Aug. 4, 2014, 10:48 AM
    • Shares of Disney (DIS +1.3%) are higher than market averages after Marvel's Guardians of the Galaxy stuns at the box office in its three-day debut.
    • The $94M tally set a record for an August opening and bodes well for Marvel as it dipped into a lesser-known pot of superheros and scripted a lighter tone to the film.
    • The production budget on the film was $170M.
    • A sequel is planned for 2017.
  • Jul. 16, 2014, 8:13 AM
    • 21st Century Fox (NASDAQ:FOXA) will pay as much as $85 per share for Time Warner (NYSE:TWX), according to Bloomberg.
    • The frothy premium hasn't gone unnoticed in the broadcaster sector with CBS (NYSE:CBS) up 1.6% premarket and Viacom (VIA, VIAB) rising 1.8%. Murdoch's 21st Century Fox is 1.7% higher, while even media giants Disney (NYSE:DIS) and Comcast (NASDAQ:CMCSA) are catching a piece of the frenzy, up 0.7% and 0.9% premarket, respectively.
    • TWX is in dreamland, up +20.2% to $85.32.
    • It's setting up to be a banner day for the PowerShares Dynamic Media ETF (NYSEARCA:PBS).
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  • Jun. 25, 2014, 10:21 AM
    • Handing a major win to TV broadcasters, the Supreme Court has ruled 6-3 Aereo's streaming TV service violates the Copyright Act.
    • Aereo has maintained an unfavorable ruling would be a death knell for the company. Broadcasters, meanwhile, had threatened to stop providing their channels over the air, as they looked to protect the lucrative affiliate fees they receive from pay-TV providers.
    • Broadcaster shares have moved higher following the verdict: CBS +5.4%. DIS +1.4%. FOX +2%. FOXA +1.9%. CMCSA +0.9%. InterActiveCorp (IACI -1.6%), a major Aereo investor, is trading lower.
    • Prior Aereo coverage
  • May. 6, 2014, 4:31 PM
    • Disney (DIS) puts in another powerhouse quarter with double-digit revenue growth and a healthy beat on the bottom line.
    • Disney segment revenue: Parks and Resorts +8% to $3.30B; Studio Entertainment 35% to $1.80B; Media Networks +4% to $5.13B; Consumer Products +16% to $885M; Interactive +38% to $268M.
    • Frozen and Thor: The Dark World both excelled at the global box office and gave a lift to consumer products in the quarter.
    • ESPN advertising revenue was lower due to a decrease in ad units delivered, although ad rates were higher.
    • Higher construction costs at Shanghai Disney drove capex spending to $1.359B.
    • DIS +0.5% AH to $81.35.
  • May. 6, 2014, 4:17 PM
    • Walt Disney  (DIS): FQ2 EPS of $1.11 beats by $0.15.
    • Revenue of $11.64B (+10.3% Y/Y) beats by $440M.
    • Shares +2.1%.
    • Press Release
  • Mar. 25, 2014, 8:09 AM
    • Disney's (DIS) acquisition of Maker Studios has enormous potential to pay off for the company with Maker needing the Disney touch to boost profitability, reasons Variety's Andrew Wallenstein.
    • Snapping up Maker also eliminates what could have been a formidable rival for Disney in the growing multichannel network part of the media business.
    • Analysts also see potential for Disney to build stars and brands on YouTube through Maker.  Looking further out, the deal could shorten the learning curve for Disney on how to set itself up for online video distribution.
    • DIS +1.9% premarket
  • Feb. 6, 2014, 11:15 AM
    • The success of Frozen was a major topic during Disney's (DIS +4.9%) earnings call with analysts. The enormous staying power of the film in the U.S. and a highly-successful debut in Asian markets bodes well for a carry-over into FQ2 for box office sales and even beyond with consumer products.
    • ESPN ad sales are tracking higher for the current quarter despite the upcoming Olympics which will dominate ratings.
    • The MyMagic+ product at theme parks is having an impact. At Walt Disney World, close to 3K extra visitors a day can be serviced due to the innovation.
    • Execs backed the big franchise film strategy of the company as they noted 19 of the top 20 films of all-time are of the franchised variety. On that note CEO Bob Iger didn't have any updates on Star Wars development, but did sound mildly enthusiastic on its prospects: "Nothing I say here today could ever capture or convey the magnitude global anticipation for this movie."
    • Earnings call transcript
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  • Feb. 5, 2014, 4:25 PM
    • Disney (DIS) blows past profit estimates for Q4 on solid revenue gains across segments. Close to half of the company's profit was derived from Media Networks, led by ESPN once again.
    • Disney segment revenue: Parks and Resorts +6% to $3.98B; Studio Entertainment 23% to $1.89B; Media Networks +4% to $5.29B; Consumer Products +11% to $1.13BM; Interactive +388% to $403M.
    • Frozen and Thor: The Dark World drove studio revenue and the company noted a boost from SVOD. Marketing costs were lower during the period with Disney placing just a few high-stakes movie bets.
    • Theme parks saw increased guest spending and higher ticket prices. The rate of growth for the segment beat Universal's handily for an overlapping period.
    • DIS +1.9% AH.
  • Feb. 5, 2014, 4:17 PM
    • The Walt Disney Company (DIS): FQ1 EPS of $1.04 beats by $0.13.
    • Revenue of $12.31B (+8.6% Y/Y) beats by $80M.
    • Shares +1.7%.
    • Press Release
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  • Jan. 31, 2014, 9:39 AM
    • Shares of companies that sell toys are in a mild swoon following a lackluster report from Mattel (MAT -10.4%) that pointed to crumbling demand for physical toys.
    • No surprise, but Hasbro (HAS -5.4%) and Build-A-Bear Workshop (BBW +0.9%) are both trading lower off the news. Shares of Disney (DIS -1.5%) are also below market averages with the company having some skin in the toy game.
  • Jan. 30, 2014, 12:04 PM
    • Media stocks are notable out-performers today as earnings report in the sector continue to come in favorable and more content deals across platforms and geographic regions signal more revenue potential for companies on the content side.
    • Advancers: CBS (CBS) +4.0%, Disney (DIS) +3.2%, Twentieth-Century Fox (FOXA) +4.7%, Lions Gate (LGF) +3.7%, Viacom (VIAB, VIA) +4.5%, Time Warner (TWX) +2.9%.
    • Related ETFs: PBS
  • Dec. 30, 2013, 5:39 PM
    • Top gainers, as of 5:15 p.m.: ANV +5.6%. HTZ +3.4%. PKD +3.3%. CLR +2.7%. MRVL +2.5%.
    • Top losers, as of 5:15 p.m.: RRD -2.8%. DIS -2.3%. GOMO -2.3%. HRB -2.1%. SYMC -1.9%.
  • Nov. 8, 2013, 7:56 AM
    • Shares of Disney (DIS) trade lower following the release of the firm's Q3 earnings report.
    • Strength across segments was seen during the quarter, but the announcement by the company of a later launch date for Star Wars: Episode VII could be tipping sentiment.
    • The film will debut on December 18, 2015 - instead of the anticipated summer 2015 release - pushing the revenue bonanza into FY16.
    • During the firm's earnings call, CEO Robert Iger noted the creative team needed the extra time to make a great film. (transcript)
    • DIS -1.1% premarket
  • Sep. 19, 2013, 9:29 AM
    • Morgan Stanley moves Disney (DIS) down to an Equal-weight rating on concerns the company lacks near-term catalysts.
    • With no Pixar movies set to be released next year due to a delay in the studio's launch schedule, more investment firms could tweak their 12-month price targets on the House of Mouse.
    • DIS -1.1% premarket.
  • Sep. 12, 2013, 1:48 PM
    • Disney (DIS +3.2%) CFO Jay Rasulo announces the company will increase its buyback next year to the $6B to $8B range.
    • The exec is on the mike at the Bank of America Merrill Lynch Media, Communications & Entertainment Conference and things were going relatively ho-hum until that zinger.
    • Presentation webcast
  • Aug. 7, 2013, 11:44 AM
    • Goldman Sachs notes Disney's (DIS -2.5%) FQ3 was a slight miss on profit if you back out a nickel per share benefit from cable network affiliate revenue that was pulled forward.
    • The investment firm also notes affiliate fees for cable networks were slower than it anticipated, 6% Y/Y vs. 11%.
    • Overall, Goldman is lukewarm on Disney's upside in the short-term as its sits on a Neutral rating and $69 price target.
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Company Description
Walt Disney Co, together with its subsidiaries, is a diversified entertainment company with operations in five business segments: Media Networks, Parks and Resorts, Studio Entertainment, Consumer Products and Interactive.