Wall Street Will Do What It Wants With A Stock Regardless Of Earnings

Walt Disney Co DIS shares showed its resilience to a not-so-good print and it seemed to have got the investor confidence that the resumption in growth is on its way.

Disney reported a mixed first quarter, with EPS beating the Street, while revenues missing the consensus estimate. Results from studio and consumer products units lagged behind estimates. In addition, cable networks' revenue too fell short of expectations on lower content licensing revenue and affiliate fees.

But, the shares recouped its initial losses and were trading in $109 range as investors are focusing on a re-acceleration of growth across the group in 2018 and beyond. Further, CEO Bob Iger’s willingness to stay on past his planned June 2018 retirement also kept investors enthused with the stock.

Further, Frank Holmes, CEO and chief investment officer of U.S. Global Investors said the Wall Street will find itself a reason to buy the shares of the company they liked about.

“If a company is loved by Street they will find a reason to buy and if hated by street they will find a reason to sell. Right now, Disney is a liked company on the Street,” Holmes told in Benzinga PreMarket Prep.

At last check, shares of Disney were up 0.48 percent to $109.52.