Maybe somebody out there, who knows more about how the stock market operates, can satisfy my curriosity on this item that appeared in todays paper.

In the articl it states several things that sound just great.

ie, Pixar's revenue were UP more than double for this just closed quarter ($23 million last quarter, $49 million this quarter).

Net income nearly doubled ($10.4 million - 20cents per share last quarter, $19.5 million - 30 cents a share this quarter)

Analysts expected only 22 cents per share this querter.

All because of Nemo. Now my question:

If all this is good news, revenue UP, new income UP and shares Up. Then why did there stock close DOWN after this news? I just don't get it.

I'm guessing that there was a run-up on the stock in anticipation of just such numbers. (Also, remember that it was such a huge jump because last year at this time they did not have a movie out in theaters.) Once the numbers were up, everybody jumped out, took their profits, and cashed out.