Shares of Dow component Walt Disney (DIS) slipped after the close as the company posted below-consensus revenue in its fiscal first quarter.
For the three months ended Dec. 31, the Burbank, Calif.-based media and entertainment conglomerate reported earnings of $1.46 billion, or 80 cents a share, on revenue of $10.78 billion. The average estimate of analysts polled by Thomson Reuters was for earnings of 71 cents a share on revenue of $11.18 billion.
The stock was last quoted at $40.40, down 1.4%, on volume of 1.7 million, according to Nasdaq.com. Based on Tuesday's regular-session close at $40.98, the shares were up 8% so far in 2012.Disney's studio entertainment unit experienced a year-over-year revenue decline of 16% to $1.62 billion in the latest quarter from $1.93 billion a year earlier because of "fewer Disney branded titles in wide theatrical release in the current quarter along with an adverse impact from the timing of title availabilities in television markets and lower DVD volumes," the company said. Check out TheStreet's quote page for Walt Disney for year-to-date share performance, analyst ratings, earnings estimates and much more. Other stocks active in late trades includes Silicon Graphics (SGI), whose stock plunged 23.5% to $11 on volume of 1.2 million after the computing products company's fiscal second-quarter profit of 4 cents a share fell well short of Wall Street's consensus view of 25 cents as margins came under pressure because of the challenging economic conditions in Europe; OpenTable (OPEN), whose shares rose 5% to $54.03 on volume of nearly 1 million after the online restaurant reservation company reported fiscal fourth-quarter non-GAAP earnings of 37 cents a share, beating the consensus view of 30 cents a share; and Panera Bread (PNRA), whose stock dipped 2.8% to $155.50 on volume of more than 300,000 after the bakery-cafe operator posted a slight miss on the top line with revenue of $495.8 million in its fiscal fourth quarter, below the analyst view of $499 million. --Written by Michael Baron in New York.
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