Shares of Disney plunged in the last half hour of trading ahead of Q4 EPS. The stock fell from 37.10 to 36.20 amid high volume. Chatter on the street was possible leak of weak earnings caused the selling. The real legitimacy of our markets really shines through when large caps sell like this before EPS. Even though they numbers were shown early, at 3;33 still no excuse….
Disney closed down 2.8% on the day to 35.92 on heavy volume of 30 million shares vs. 10 mil 3 month average.
Option traders went after the November 45 puts with over 10k trading vs open interest of 3700 contracts.
Disney reported: Q4 EPS ex-items 45c vs. consensus 46
Q4 revenue $9.74B vs. consensus $9.94B.
“Disney said the quarter included restructuring and impairment charges of $58M, which adversely impacted EPS by 2c”