Disney's World Got a Little Smaller, Will Exit Videogame Business

Disney (DIS) - Get Report lost a little magic in the most recent earnings report. The company missed expectations for earnings and revenue. It also announced it will exit the 'Infinity' video game business saying it dragged down the consumer products and interactive media division. CEO Bob Iger says they are in discussions with various entities, both established and new, that have expressed interest in having ESPN and other Disney channels in their initial offerings. Staples (SPLS)  and Office Depot  (ODP) - Get Report  have called off their merger. The decision came after the Federal judge took the side of the Federal Trade Commission who has been lobbying against the deal. The FTC maintains that a merger would lead to higher prices in office supplies. Staples and Office Depot, however, say they need to merge to compete with Amazon  (AMZN) - Get Report  and others. Electronic Arts  (EA) - Get Report  saw its profits soar 19%. The video game publisher had better than expected quarterly results, thanks in part to the company's popular 'Star Wars Battlefront' video game that continues to attract players.