Stock prices were lower in Monday trading, with fears about European nations’ debt pressuring prices. Even an analyst’s upgrade for Disney couldn’t boost the Mouse House into positive territory.
Like most stocks, Disney remained down, despite Stifel Nicolaus analyst Drew Crum upgrading it from “hold” to “buy.” He characterized it as a bargain compared to other big media stocks, which have generally risen far more this year. The analyst likes not only the trends for ad sales and retransmission consent fees, but also sees progress with the Parks & Resorts segment rebounding from the recession.
Nearly all radio and TV stocks were down on Monday. As of 1:30 pm ET, the Dow Jones Industrial Average was down nearly 150 points.