Walt Disney’s (NYSE:DIS) Unit Seeks to Block Bankruptcy Sale of 3-D Technology – DIS, CBS, VIAB, NWSA

The Walt Disney Company’s (NYSE:DIS) unit asked a federal judge to halt a bankruptcy court decision that would permit another corporation to sell patents linked with three- dimensional movies.

The company reported in its appeal on Friday in United States District Court in Wilmington, Delaware that Walt Disney Studios Motion Picture Production’s rights to use the technology to change traditional movies into 3-D movies will be harmed.

The disagreement involves the shell corporation left in bankruptcy by the collapse of Digital Domain Media Group Inc. That shell held an auction for the patents previous month that was got by RealD (NYSE:RLD).

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. CBS Corporation (NYSE:CBS) fell -1.05% to settle at $38.65, Viacom, Inc. (NASDAQ:VIAB) moved up +1.88% to end at $57.51 while News Corp (NASDAQ:NWSA) jumped +0.91% to finish at $26.50 on Friday.

The Walt Disney Company (NYSE:DIS) last session’s volume of 8.75 million shares was surprisingly higher than its average volume of 7.92 million shares. The stock after opening at $51.38 hit high price of $52.33 and then closed at $52.19 by scoring +1.91%.

The liquidity measure in recent quarter results of the company was recorded 1.07 as current ratio and on the other side the debt to equity ratio was 0.36 and long-term debt to equity ratio remained at 0.27. The Company had total cash of $3.39 billion at hand and a book value per share as $22.34 in the most recent quarter.

The stock’s price volatility was 1.52% for a week and 1.46% for a month as well as price volatility’s Average True Range for 14 days was 0.81 and its beta remained at 1.18.

DIS generated revenue of $42.28 billion in the previous twelve months and earned $5.68 billion. The Company showed a positive 14.60% in the net profit margin as well as in its operating margin which remained at 21.90%. Company’s annual sales growth for the past five years was 3.55%.

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