Disney banks on success of big summer blockbusters - Pacific Business News (Honolulu):

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Even with a slow economy expected toaffect Disney’s theme parks this summer, things are lookiny up for its share-price After moving up with the markeyt from the March lows, Disney’ws shares went from the 12-month, and a multiyear, low of $15 per shares to settle in at about $20 per sharwe on May 1. Then on May 6, when the companhy announced better-than-expected earnings for the quarter — 43 centsx per share compared with analysts’ expectations of 40 cents pershare — Disney’s sharews jumped in pre-market trading from $23 to $25, finally settlin g for the day at $26 per up 13 percent. That same day, two brokeragw companies upgradedthe shares.
Barclays Capita went from “underweight” to “overweight,” and Wunderlicgh lifted the sharesfrom “sell” to “hold.” Jim Cramerr at CNBC attributed the move to shortt sellers (those who bet on the downside) havint to cover their positionsw due to the good earninge report, which is referred to as a “shorf squeeze.” Now, according to Bob O’Brien at Barron’s, Credit Suissee is talking up Disney’s box-office prospects this after a slow start for 2009. “Bedtims Stories” and “Confessions of a saw relatively poor box offic e receipts compared tolast year’s earlg titles that included “Enchanted.
” Credit Suisse is banking on the thirsd installment of “Toy Story” and ’s animated 3-D moview “Up.” The new “Toy Story” should revitalize DVD sales of the first two in the “Toy” series. And with scheduled for releaseMay 29, it expects the initial weekend to take in $55