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Technology Stocks : Walt Disney -- Ignore unavailable to you. Want to Upgrade?

To: Brad White who wrote (507)	4/23/1998 9:15:00 AM
From: Jerry Miller	Respond to of 2222

BEFORE THE BELL-Disney up on earnings, split April 23, 1998 08:18 AM NEW YORK, April 23 (Reuters) - Shares in Walt Disney Co. rose in pre-opening trade Thursday after the entertainment company reported quarterly results above forecasts and declared a 3-for-1 stock split. Dealers said Disney stood out in trade dominated by earnings news. Disney rose to 122-3/8, above an all-time high, on Instinet's electronic broker system. The shares closed at 116-1/16 Wednesday and traded at 121-5/8 in after-hours trading. The company reported second-quarter earnings per diluted share of $0.55 after markets closed Wednesday, beating a First Call consensus estimate had put earnings at $0.51 a share. Among other active issues, Computer Associates International Inc. CA rose to 61-3/8, above a record high, from a 58-11/16 close. The company said after markets closed Wednesday that revenues and earnings for its fiscal fourth quarter would be above Wall Street forecasts. The period ended March 31. Microsoft Corp. MSFT eased to 98 from a 98-7/8 close after the company reported third-quarter earnings per share of $0.50. The First Call estimate was $0.48. Gateway 2000 Inc. GTW rose to 56-7/8 from a 56 close after the computer marketer reported first-quarter earnings per diluted share of $0.48 against $0.43 for the year-ago period. Israel's Check Point Software Technologies Ltd. CHKPF eased to 39 from a 41 close. ((--Ian Simpson, Wall Street desk, (212) 859-1879)) REUTERS

To: Brad White who wrote (507)	4/23/1998 10:13:00 AM
From: Zoltan!	Read Replies (1) \| Respond to of 2222

$126+!!! And this is supposed to be Disney's "bad" quarter! Gee, you're right, those that shorted at $80 have certainly dug themselves a huge hole. They must still be there but we can't see them because they're still digging. Btw, the WSJ has a big article today concerning the disarray at Time-Warner. Their whole movie operation appears to be in collapse. Last week the WSJ featured reports that Seagrams wanted to get out of its big mess at Universal, again with its movie operation in disarray. Eisner even estimated that Universal was overspending on its amusement part, $3 billion vs. Disney's $800 million for the amazing Animal Kingdom theme park. Considering the billions that Seagrams has lost by dumping Dupont for MCA, I'm surprised that there is not an all-out SH revolt. The reviews of Animal Kingdom were all superlative, many even said that it was a superior experience to going to Africa. Looks like Universal can only expect its usual in the future, the overflow from Disney. And as someone here pointed out, Munlan is getting advance raves from those in the know - the best since Lion King! What's your conservative guess for Disney, $50 post split in July?