The Walt Disney Company (NYSE: DIS) led the DOW on Wednesday after reporting quarterly earnings Tuesday night. Disney reported first quarter earnings of $0.79 per share, beating Wall Street estimates of 0.76 per share. Revenue increased 5% year over year to $11.3 billion, when analysts expected $11.2 billion. The stock hit a new 52-week high on Wednesday at $55.50. In the last year Disney shares have gone up 35%. The Company made a big move last October when they bought Lucasfilm for $4 billion. Disney CEO Bob Iger announced on Tuesday that the “Star Wars” franchise will get two spinoff movies.
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Zynga, Inc. (Nasdaq: ZNGA) – ZNGA led the Nasdaq on Wednesday after releasing earnings that surprised most of Wall Street. The Company topped estimates with a surprise per-share profit in the fourth quarter. Zynga reported earnings late Tuesday revealing that the Company earned 1 cent per share, or $6.9 million, on sales of $311 million last quarter. Analysts polled by Thomson Reuters expected a loss of 3 cents per share and $212 million in revenue. Zynga's current-quarter outlook is for "bookings" of $200 million to $210 million. This is well below the $232.5 million analysts had been forecasting. The Company expects to lose 4
cents to 5 cents per share, minus items, where analysts have estimated a 1-cent loss. Last month ZNGA’s Chief Revenue Officer sold 115,388 shares. On Wednesday trading volume for Zynga was 93,795,130 compared to a daily average of 19,467,100. The stock closed in the green yesterday at $2.99, up 9.12%.
TimeWarner Inc. (NYSE: TWX) – Yesterday Time Warner Inc. shares rose the most the Company has seen in the last 24 months. The Company made a new 52-week high at $55.23. Yesterday’s gain was the biggest gain seen since February 2011 after the Company reported fourth-quarter net income. Adjusted operating income was $6.1 billion for the year, up 4%, as fourth-quarter income jumped 16% to beat analysts' forecasts. Time Warner is also raising its dividend 11% to $1.15 a year and has said its board has authorized the repurchase of $4 billion worth of its shares. For 2013, Time Warner is expecting earnings per share to be up more than 10%. On January 30th, the Company’s Executive Vice President bought 7,004 shares. The stock closed at $52.03, up 4.14% on 12,332,047 shares traded. Trading volume on Wednesday was roughly two times higher compared to the stock’s average of 6,062,180.
Virgin Media, Inc. (Nasdaq: VMED) – shares of VMED retraced on Wednesday, after hitting a 52-week high earlier this week at $46.43. Trading volume for the Company blew up yesterday with 98,195,190 shares traded. This is in comparison to an average of 3,366,860 shares. The Company announced Wednesday morning that Liberty Global is to acquire them in a stock and cash merger valued at approximately $23.3 billion. The deal would create the world's leading broadband communications company. Virgin Media shareholders will receive $17.50 in cash, 0.2582 Liberty Global Series A shares, and 0.1928 Liberty Global Series C shares for each share they own. The deal will create a broadband communications company covering 47 million homes and with 25 million customers in 14 countries and is expected to close in Q2 of this year. On January 25th, VMED’s CEO, Vice President Controller, CFO, and Chief C T & N Officer all bought shares of the Company. Shares of VMED closed at $44.89, down 1.58% on Wednesday.
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