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Even with a slow economy expected toaffect Disney’s theme parks this summer, thingd are looking up for its share-pricre performance. After moving up with the market from theMarchh lows, Disney’s shares went from the and a multiyear, low of $15 per sharde to settle in at about $20 per share on May 1. Then on May 6, when the compan announced better-than-expected earnings for the quarter — 43 centsa per share compared with expectations of 40 cents pershare Disney’s shares jumped in pre-market tradingt from $23 to $25, finally settling for the day at $26 per up 13 percent. That same day, two brokeragd companies upgradedthe shares.
Barclays Capital went from “underweight” to and Wunderlich lifted the sharesfrom “sell” to Jim Cramer at CNBC attributer the move to short sellers (those who bet on the having to cover their positions due to the good earning s report, which is referred to as a “short squeeze.” Now, accordingh to Bob O’Brien at Barron’s, Credity Suisse is talking up Disney’s box-officw prospects this summer, after a slow staryt for 2009. “Bedtime Stories” and “Confessionz of a Shopoholic” saw relatively poor box officd receipts compared tolast year’s early titlea that included “Enchanted.
” Crediy Suisse is banking on the third installment of “Toyy Story” and ’s animated 3-D movie “Up.” The new “Toty Story” should revitalize DVD sales of the first two in the series. And with scheduled for releaseMay 29, it expecte the initial weekend to take in $55
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