I hope you are all enjoying your week and the variety of news that has gone along with it so far. This is the Mid-Week Market Rag for Wednesday March 9:
The success of its movies and theme parks helped Disney post a 71 percent increase in its net income, the Wall Street Journal reported today.
It should go without saying that the amazing profits of movies such as Cars and the continued realized and projected success of "Pirates" trilogy have propelled Disney this quarter. Shares of Disney stock are up over 3 percent this afternoon.
There has been an across-the-board decrease in airline fares announced this week. United, American Airlines, Continental and Delta have all lowered their fares to match each other. Air travel revenues are down and stocks are down significantly on each mentioned airline. The cuts are reported to be temporary, however.
Technology company Cisco saw one of its biggest one-day jumps and is currently up nearly 15 percent for the day. Its earnings helped ease an otherwise unsettling technology sector.
British oil producer BP does not appear to be suffering any ill stock-related effects from their Sunday morning shutdown of their 400,000 barrel-per-day Alaskan pipeline. It's stock is up over one percent today.
Finally, good news for Sprint. Their stock is up almost two and a half percent on news that their plans for the use of wireless broadband, called WiMax, include spending nearly $3 billion on the exciting new technology.
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