America's Favorite Mouse Reports Higher Earnings

Shares of Walt Disney, whose business divisions range from television networks to theme parks, were trading higher on Tuesday as the company reported higher sales and profit that beat Wall Street estimates by a good margin, mainly from a boost of the sports network ESPN and strong results from its movie studio. The company reported earnings of $1.33 billion, or 67 cents a share in its fiscal third quarter, up from $954 million, or 52 cents a share last year. Revenue swelled to $10 billion in the period, 16 percent higher than the $8.596 billion reported last year. Thomson Reuters, had forecast that DIS would earn 58 cents a share on sales of $9.384 billion.

Shares traded as high as the 37.98 level this year before a correction to the 30.72 area.  The next technical entry would be a close above 35.83 which would be a take out of resistance from 6/21/2010.

35.83 is the next area of resistance

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