DOW JONES- $13,579.47

S&P 500- $1,460.15

NADSAQ- $3,179.96

The Walt Disney Co.- $52.74

News Corporation- $25.08

Time Warner Inc.- $45.90

In the industry of Entertainment Diversified, I found out that the U.S. government is dropping a lawsuit against News Corp.’s Fox network over their refusal to pay indecency fines for a 2003 broadcast. The Justice Department said, without elaboration, that they are voluntarily dismissing the case. I believe this action could lead to higher stock prices for News Corp. since there is no chance of them having to pay a large fine for the incident. Without this lawsuit hanging over their heads they are free to move on to focus on more pressing matters of business.

Also in my industry Walt Disney hit a new 52-week high. TheStreet Ratings rates Walt Disney as a buy. They say the company’s strength can be seen in multiple areas. These strengths outweigh the fact that the company shows low profit margins. As stated in my previous blog,  many people believe Disney is an undervalued company that has a huge market in the United States and is expanding their reach to other areas of the world.

Another very interesting article I read about my industry was about Disney joining forces with J.C. Penney. The Walt Disney Company will partner will J.C. Penny to open more than 500 in-store boutiques featuring Disney products designed exclusively for the retail giant. According to The Motley Fool, an account from one person claims that each Disney shop will sell costumes, figurines, footwear, apparel for boys, girls, and babies. Some see this move as a speculative play, because of J.C. Penney’s decrease in same-store sales in excess of 20% and a net loss of $81 million. However, Swiss bank Credit Suisse raised its price target on Disney to $58 a share from $56. I am hoping this move pays off and Disney stocks increase and not decrease significantly because of this move. I am an optimist and believe Disney can make this work for their benefit.