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Disney Wants Quarter Forgotten
Disney(DIS Quote) says its fourth-quarter lurch won't turn into something more serious. Investors are less sure.
The entertainment giant reported a 27% decline in year-over-year profits Thursday night thanks to a significant loss in its movie studio. Disney, which warned investors that spotty home-video sales and contract buyouts would produce the red ink, also posted quarterly sales that were about $150 million short of estimates.
In recent trading, the stock was down 66 cents, or 2.5%, to $25.33. ...
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