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Walt Disney Co - Disney, Pixar Shares Up After Disney Results
Thursday, February 16 2006 at 11:55
LOS ANGELES (Reuters) - Shares of Walt Disney Co rose more than 7 percent on Tuesday, a day after the company reported a quarterly profit that beat Wall Street expectations on strong theme park attendance.
The world's No. 2 media conglomerate also won praise from analysts for merging some of its radio stations and ABC Radio Networks with Citadel Broadcasting Corp in a deal valued by Disney at $2.7 billion.
Shares of Pixar Animation Studios Inc, which has agreed to be acquired by Disney in an all-stock transaction, mirrored Disney's upward movement of about 7 percent.
CIBC World Markets increased its rating on Disney to "sector performer" from "sector underperformer" and raised its fiscal year earnings per share estimate to $1.44 from $1.33.
Read more at http://today.reuters.com.