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    Pixar buy dilutes Disney earnings - Cnet.com - 5/10/06

    Earnings alert: Pixar buy dilutes Disney earnings

    Last modified:May 10, 2006, 6:36 AM PDT
    By CNET News.com Staff







    Full story at : http://news.com.com/Earnings+alert+P...l?tag=nefd.top

    Walt Disney reported a 12 percent rise in quarterly profit on Tuesday as strength in its television business and theme parks outweighed a sharp drop in profits at its film studio.
    Earnings topped Wall Street expectations for Disney, which saw its TV advertising rates and viewership soar on hit shows such as "Desperate Housewives" and "Lost," but revenue lagged analysts' targets.

    Shares rose 1.4 percent to a 52-week high of $30 in after-hours trading on Tuesday, after gaining 2.8 percent on the New York Stock Exchange.
    Disney shares have risen 21 percent since January, when the company announced that it would buy Pixar Animation Studios to shore up its ailing feature animation business.

    Sanders Morris Harris Group analyst David Miller said investors were bidding up Disney's share price on the belief that its four business units were finally "firing on all cylinders."
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    Re: Pixar buy dilutes Disney earnings - Cnet.com - 5/10/06

    I am not convinced that it is firing on all cylanders yet, we will see as the Movie Studios cycle through to new features... Miramax is relitively untested and is having a poor track record post Wienstien, Hollywood Pictures has been repositioned and is untested - and these could continue to be the holes in the bucket... Touchstone looks questionable I think it is depending too much on Apocolipto which as repositioned to Dec (which I think was good because Disney was solid in the summer)... Disney looks solid with Cars and Pirates, and will be a boon durring 4 Q...
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