Warner Brothers, Time Warner's (TWX) movie entertainment arm, is going to launch part 2 of Harry Potter and the Deathly Hollows in 3D during 2011. We take this opportunity to estimate the value of such movies from Time Warner's perspective. Time Warner competes with Viacom (VIA), News Corp. (NWS), CBS (CBS) and Disney (DIS) in the media and entertainment business.

Our price estimate for Time Warner's stock stands at $35.51, in line with market price.

The title of Walt Disney's (DIS) latest film release is Mars Needs Moms. I don't know whether the Martian planet needs moms or not, but the Mouse certainly could have used a few more of them to bring their kids to theaters this past weekend.

Box Office Mojo says that the motion-capture-fueled Moms made $6.9 million at domestic screens during its debut outing. That's $6.9 million over three days. But wait, there's more: that's $6.9 million over three days for a movie produced by Robert Zemeckis. What the heck happened?

CBS (CBS) competes with other media conglomerates like Disney (DIS), News Corp. (NWSA), Time Warner (TWX) and Viacom (VIA) in the media and entertainment business.

The company recently released its fourth quarter 2010 earnings. Based on observed improvements in margins across all categories, an improving advertising environment and continued growth in the local broadcasting segment, we have updated our price estimate for CBS stock to $26.34. Our price estimate for CBS stands at 18% premium to the market price.

According to Box Office Mojo's early estimates for the four-day holiday weekend, Time Warner Inc.'s (TWX) thriller Unknown has taken the number-one position with a domestic haul of $25.6 million. The next two movies on the chart came close to that figure, but the more interesting thing about them is that they come courtesy of The Walt Disney Company (DIS).

In second place is Gnomeo and Juliet with $24.8 million. Pretty cool, actually. I didn't think the cartoon would necessarily hold up as well as it has in the second weekend.

CBS Corporation (CBS) issued its fourth-quarter report after the bell today. The results should make shareholders happy. Adjusted net income rose an incredible 77% to 46 cents per share, according to the press release. That number went beyond the estimate by two pennies as indicated by TheFly.

Considering how the stock has fared over the past twelve months, one would have expected a good earnings report. The 52-week low for the shares is $12.26 while the 52-week high is $22.25. The chart communicates a company backed by some solid momentum.

Analyst Upgrades

• Disney (DIS) to buy from hold at Wunderlich.
• Pike Electric (PIKE) to outperform from market perform at FBR Capital.
• Kindred Healthcare (KND) to overweight from equal weight at Barclays.
• UBS (UBS) to hold from sell at Canaccord.
• Avery Dennison (AVY) and Take-Two (TTWO) to buy from neutral at BofA/Merrill.
• Mercer (MERC) to outperform from market perform at Raymond James.

The Walt Disney Company (DIS) released results for its fiscal first quarter after the bell today. As a shareholder, I was very eager to see the data since the stock recently broke through the tough resistance level of $40. Would the recent rise in the stock be justified by the profit growth?

You know, that just may be the case. According to the corporate press release, on an adjusted basis, net income jumped 45% to 68 cents per share. Even better, the call was for 56 cents per share. That's a significant beat. As for the top line, it expanded by a healthy 10%.

Teams have been preparing their game plans and it's time to see which of the 60 teams will win. No, not the Packers or Steelers -- Go Pack! -- but PepsiCo (PEP), Anheuser-Busch (BUD), General Motors (GM) and all the other companies competing for the best spots in one of TV's most expensive marketing moments, costing an estimated $3 million dollars per 30 second spot.

For those not into football, the ads in the Super Bowl game can be more amusing than the game itself as advertising teams compete for attention, show their best efforts and even get rated by numerous online sites. Last year, Doritos (owned by PepsiCo), and E-Trade (ETFC) did well, and Anheuser-Busch seems to always have a Clydesdale horse in the running.

Viacom's B shares (VIA.B) hit a new 52-week high of $43 on Friday during the intraday session (it eventually closed at $42.28). This is a stock I watch fairly regularly, and it's looking like it wants to make a run to even higher heights.

The equity has done well since hitting a 52-week low of $27.89 nearly a year ago. The twelve-month chart shows the stock's escape from a sideways-trading pattern. You can't help but call the media company attractive from a technical viewpoint.

I also find the business to be interesting from a valuation perspective. Even with the appreciation in price, the shares are arguably not too expensive.

Last week, Disney (DIS) hit $40 per share. It's something I've been waiting a long time to see. I know many investors, as well as traders, have done well, depending on when they purchased the stock. I myself started a position back in 1998. As far as I'm concerned, the company didn't do what I thought it would over the past decade-plus.

I'm hoping all that's about to change. Now that the Mouse has returned to the $40 area, perhaps it's a sign that $50, $60, maybe even $70 aren't the impossible prices I once thought they were. No, I'm not suggesting we'll see $70 in 12 months, or even in 24 months; I won't even suggest $60. But $50? Hey, let's just say when I look at the chart, I'm encouraged that new resistance levels may be taken out.

IMAX (IMAX) finished 2010 with a wild trading day. With a little over two-and-a-half hours to go before the market bell, I had noticed that the stock was up an incredible 15.6% to $31.05. On heavy volume. Yes, heavy volume, on the last day of the year.

What was the reason? There was some speculation about a buyout. StreetInisder.com had reported that Sony (SNE) was possibly interested in buying the business. Disney (DIS) was also mentioned as a potential acquirer.