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DIS Preview: Great Export Story Coming to an End?

By Gary Dvorchak

 About this article:
 Tinker Bell can spread her pixie dust all over Disney , but that will not allay the concerns of investors over the near-term outlook for this media/travel behemoth. Even good earnings may not ease the tension. Analysts are looking for 49 cents of EPS on $9.35 billion of sales when Disney reports after the bell. Disney is a great export story -- remember, foreign visitors to the U.S. parks are exports -- but with the U.S. dollar on a tear since its July nadir, that story arc may be concluding. With the euro down 25% and their own economy in a shambles, Europeans are no longer unloading in Orlando in huge numbers. In any case, with 2008 nearly done, investors are turning their attention to 2009 and the question of how well Disney will weather the recession. The business is far more stable than in the past. With...

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