This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Five Dumbest Things on Wall Street: Nov. 13

Disney's Christmas Jeer

Boy that Mickey Mouse can be a real Scrooge when things don't go his way.

Mark Zoradi, president of Walt Disney (DIS - Get Report) Studios Motion Pictures Group and the head of worldwide marketing for all Disney, Pixar, Touchstone and Disney nature movies, announced Monday he is stepping down immediately in the wake of a weak opening for the costly holiday movie, "A Christmas Carol." The 3-D remake of the classic Christmas tale, which cost $175 million and stars Jim Carrey, opened to a pitiful $30.1 million at the weekend box office in the U.S. and Canada and is expected to lose up to $100 million.

If only the ghost of Disney past could go back in time and stop whoever greenlighted that bomb, then maybe Zoradi would still have a job.

It's worth noting that Zoradi is not the only Disney movie executive sent to the sidelines this season. In fact, the Mouse House has been more like a rat trap for studio chiefs lately.

Last month, Disney named Rich Ross as chairman of its movie studios, replacing the popular Dick Cook, who oversaw a string of bombs. And Daniel Battsek, who ran Disney's low-budget Miramax Films, left in October after the company slashed the unit's workforce and cut the number of films it would release.

In all, Disney's studio revenue has fallen in each of the last five quarters, sinking from $1.82 billion in the March quarter of 2008 to $1.26 billion in the quarter ended in June this year. The studio also posted a $12 million operating loss in the June quarter, down from a $97 million operating profit last year.

Disney is counting on its latest addition, Marvel Entertainment (MVL), to lift its fortunes with a blockbuster or two. However, if Spider-Man can't use his spidey sense to pick some winners, he may be the next one out the door.

Dumb-o-meter score: 85 -- Disney to Zoradi: "Bah, Humbug!"
3 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AIG $63.12 0.57%
DIS $117.95 -1.23%
GE $30.66 0.23%
MET $50.52 -0.34%
PNK $32.99 -0.21%


Chart of I:DJI
DOW 17,812.19 +19.51 0.11%
S&P 500 2,089.14 +2.55 0.12%
NASDAQ 5,102.8080 +0.33 0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs