Will the Jonas Brothers Sink Disney?


Probably not, but then again, we majored in English, not finance. Disney's film division reported that its second-quarter operating revenue dropped 97 percent when compared to the second quarter of 2008, owing to the disappointing box-office returns of films like Jonas Brothers: The 3D Concert Experience and Confessions of a Shopaholic. These results come on top of the fact that the film division's income dropped by some 64 percent in the first quarter, too. However, just to prove how little we understand how the stock market actually works, Disney shares are up nearly 10 percent this morning, based on the fact that Disney's overall 46 percent drop in earnings was lower than industry analysts had expected. Maybe now that their stock price is on the rise, they can hire back those people who are supposed to keep children from being traumatized by topless girls on Splash Mountain!

Struggles at the Box Office Weigh on Disney’s Profit [NYT]