Darkbeer
11-08-2002, 01:17 PM
Disney pounded by ratings revisions (http://cbs.marketwatch.com/news/story.asp?siteid=mktw&guid=%7B78670929%2DB002%2D44F4%2DB01D%2D11E05707F7 10%7D&) - CBS Marketwatch, 11/8/02
(Note: CBS Marketwatch frequently moves it's web pages, you might need to go to the main CBS Marketwatch page, and search for the article.)
QuikQuote: Cohen and Sobani Warner, of Williams Capital, both removed their "buy" rating on Disney stock. Cohen cut Disney to a "neutral," while Warner lowered the company to a "hold." Warner also lowered her 2003 earnings estimate to 69 cents a share, from 77 cents. Meanwhile, Christopher Dixon, of UBS Warburg, lowered his earnings estimate for the company to 65 cents a share, from 70 cents. And Michael Gallant, of CIBC WorldMarkets, cut his estimate to 68 cents, from 79 cents.
All four cited the company's rights for the National Football League, as well as the National Basketball Association contract it recently won for its ESPN network. The sports programming resulted in a $100 million shortfall in operating income at the cable network division.
(Note: CBS Marketwatch frequently moves it's web pages, you might need to go to the main CBS Marketwatch page, and search for the article.)
QuikQuote: Cohen and Sobani Warner, of Williams Capital, both removed their "buy" rating on Disney stock. Cohen cut Disney to a "neutral," while Warner lowered the company to a "hold." Warner also lowered her 2003 earnings estimate to 69 cents a share, from 77 cents. Meanwhile, Christopher Dixon, of UBS Warburg, lowered his earnings estimate for the company to 65 cents a share, from 70 cents. And Michael Gallant, of CIBC WorldMarkets, cut his estimate to 68 cents, from 79 cents.
All four cited the company's rights for the National Football League, as well as the National Basketball Association contract it recently won for its ESPN network. The sports programming resulted in a $100 million shortfall in operating income at the cable network division.