Disney Stock Is Roaring Back to Life
Shares of Walt Disney (NYSE: DIS) opened sharply higher on Thursday, following better-than-expected financial results earlier in the day. The 8% pop at market open finds the media giant's stock trading at its highest level in more than six months.
I argued at the start of this trading week that a strong fiscal fourth-quarter report could send Disney shares back above $100 for the first time in months. The blowout performance is making sure that the stock won't just be a temporary tourist in the three-figure mark.
Disney's results for its latest quarter narrowly beat analyst expectations on both ends of the income statement. That's good. Its long-term growth projections for the next three years were even better. That's great.
Source Fool.com
