The Mouse That Roared: Disney Comes On Strong

Stocks: (DIS)(TWX)(VIA)The most important point about the new Disney earnings is that the company’s studio did well Rivals like Time Warner and Viacom cannot make the same boast.While bookings at its theme parks where flat, results at the company’s studio soared, primarily because “Pirates of the Caribbean” did so well. Disney has also cut 450 jobs at its studio to bring costs down. Are managers at the other media companies listening?Disney’s stock, which is near a five year high, dropped slightly on the report. The market wonders if the company can keep the pace. but Mr. Iger has confounded his critics since being elevated to the CEO’s job. The company said its should have double digit earnings growth in its fiscal 2008.Disney’s studio results were buttressed by strong results at ABC and ESPN.The stock may be at a five-year high, but it could go higher.Betting against Iger is getting to be a nasty business.Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.

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