Digest: Upbeat theme for Disney's parks
EmptyUpbeat theme for Disney's parks
Disney's theme parks business continues to look solid despite a likely slowdown because of a sluggish economy in the back half of the year, Pali Research analyst Richard Greenfield said Wednesday. Investors have been concerned about the hit to the parks unit amid a slow U.S. economy and a possible recession. "We believe (the) fiscal second quarter was quite strong for Disney's parks (passengers arriving into Orlando airport were up mid-single digits for the quarter, with Orlando resort tax collections up 3% in January and 9% in February, in addition to Easter falling in the second quarter this year)," Greenfield wrote. As a result, he boosted his quarterly profit forecast for Disney by 1 cent to 52 cents per share. However, he also warned, "We believe theme park earnings will begin to decline in the back half of Disney's fiscal 2008."
Yahoo buys IndexTools, shows vids
Yahoo has agreed to acquire Tensa Kft., more commonly known as IndexTools, a provider of Web analytics software for online marketing. The deal, the financial terms of which where not disclosed, is designed to expand Yahoo's ability to help advertisers maximize their online marketing efforts. Also, Yahoo late Tuesday begun showing homemade videos on its online photo-sharing site Flickr. The long-anticipated move is seen as a late challenge to Google's YouTube.
Cramer is staying on theStreet
Online financial news service theStreet.com said has renewed its employment contract with co-founder and CNBC's "Mad Money" host Jim Cramer for three years. The deal restricts him from writing articles for Web competitors, but he will continue to be able to write a column for New York magazine and others. Cramer will get $1.3 million in his first year of the agreement, according to a filing with the U.S. Securities and Exchanges Commission.