News Summary: Disney's fiscal 1Q pleases Street

News Summary: Disney still enchants investors despite earnings decline in latest quarter

Associated Press

CROWD PLEASER: Walt Disney Co.'s stock appears headed for a new all-time high Wednesday after the company's fiscal first-quarter results turned out better than analysts hoped.

TEMPORARY LULL: The results announced for the final three months of last year included earnings that fell from the same 2011 period. But it was just a 6 percent decrease stemming from some minor headaches in Disney's television and movie operations.

COMING ATTRACTIONS: Analysts believe Disney's TV networks, movies and theme parks will thrive this year. The optimism seems likely to propel Disney's stock past its previous peak of $54.87 when trading resumes Wednesday.

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