Ugly quarter at Disney

Boy that word is coming up a lot these days. The Burbank-based Mouse House reported a 13 percent drop in fourth-quarter net income, and earnings per share was well under the average estimate by analysts. Profits fell at Disney's television business, theme parks and film division; merchandise earnings rose, but that's a relatively small part of the pie. “The quarter was uglier than anyone anticipated,” Janna Sampson, co-chief investment officer at Oakbrook Investments, told Bloomberg. As Disney CEO Robert Iger said in the earnings statement: "This is clearly a difficult and unpredictable time."