Disney Trounced After Q4 Reveals Continued Weakness IN ESPN Unit

Walt Disney Co.

shares are trading sharply lower by $3 at $89.32 in Wednesday's session. Despite a Q4 beat for EPS of $0.18 with $500M more in revenues, the Street is concerned with weakness in its ESPN division. After a lower open, it continued in the direction and did not find support until $86.25. That takes the issue back to levels in was trading at in October 2014. The ensuing rebound took the issue briefly into the $90, as it peaked at $90.03. The issue has been in free-fall since November 27, when it peaked at $120.65 just ahead of the release of the latest Star Wars movie. The Force Awakens.