With Unusual Trading Before Earnings Announcement, Disney Is Investigating Leak of 4th-Quarter Results

Nov 12, 2010  •  Post A Comment

With trading in Walt Disney Co.’s stock plunging almost 5% in the half-hour before the company released fourth-quarter results, the company said Thursday it’s investigating a leak of the quarterly report, according to the Associated Press

Disney’s fourth-quarter results showed an unexpected profit decline, with revenue crimped by the shift of some revenue for ESPN to the third quarter and one fewer week in the period than a year earlier, the story says. It notes that the incident comes after a Disney employee pleaded guilty two months ago for trying to sell early access to profit reports.

"We are aware that information regarding our fourth-quarter earnings became available ahead of its formal release and we are investigating how this occurred," said Lowell Singer, Disney’s senior vice president of investor relations, on a conference call.


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