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Schaeffer's Street Stories: The Walt Disney Company Drops to New Low on Rising Optimism

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  Published in Stocks and Investing on Tuesday, February 17th 2009 at 10:14 GMT, Last Modified on 2009-02-17 10:15:23 by Market Wire
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CINCINNATI--([ BUSINESS WIRE ])--The Walt Disney Company (NYSE: DIS) over the weekend announced that it has signed a multi-year licensing agreement with Denmark's privately held Lego Group, giving the toy maker access to Disney and Disney Pixar properties. While Disney didn't disclose how much the deal was worth, it did say that Lego products are currently in development for 3 franchises -- Disney Pixar's "Toy Story" and "Cars," and the upcoming movie "Prince of Persia," which is being produced by Jerry Bruckheimer and directed by Mike Newell. All 3 product lines are scheduled for release in 2010.

Technically speaking, the shares of DIS are in a spot of trouble. The security is down more than 18% since the start of the year, and has recently broken out of its sideways channel to the downside, fracturing support in the 19-20 region. The equity is also drifting lower under resistance from its 10-day moving average.

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