Disney and Comcast Shares Hit Highs
Shares of Walt Disney and Comcast touched new highs on Tuesday.
The two most valuable entertainment conglomerates in terms of market capitalization both rose 1 percent, with shares of Disney hitting $77.92 before closing at $77.79 and Comcast hitting $55.05 before closing at $55.
At the end of trading Tuesday, Comcast's market cap was $145.9 billion while Disney's was $136.3 billion.
Disney shares have advanced more than 7 percent since Feb. 5, when the conglomerate reported quarterly earnings that beat the expectations of analysts on both the top and bottom lines.
"The company remains well positioned to sustain its robust performance on the back of parks and resorts, as well as the studio and media networks divisions," Zacks Equity Research said on Tuesday.
Comcast reported quarterly earnings on Jan. 28 and also said it would up its dividend and stock repurchase program, and shares have advanced 3 percent since then.