Shares of Disney (DIS) haven't strayed too far from where they were when the latest earnings report was released. It would have been nice if the numbers had acted as a catalyst for the stock (which I own), pushing it above the $40 mark. Didn't happen. Hey, we move on, right?

But Disney has another chance to prove to its investors that it's a great long-term holding. The Mouse's latest cartoon, Tangled, opened on Wednesday. The idea is to capture some value from the crowds that will be out at the multiplex during the Thanksgiving weekend. I sort of have a good feeling about this film.

The Walt Disney Company's (DIS) Toy Story 3 is now out in the marketplace. Shareholders should be happy, right? This is the one everyone has been waiting for. This is the movie that will really justify the expensive Pixar purchase the Mouse made in 2006.

So far, though, I've been disappointed with the shares. They haven't done what I thought they would do. In fact, earlier in the year, I expressed a belief that the stock might hit $40 around the time of the sequel's release.

I haven't been bullish on Disney's (DIS) stock for quite a while. I own a long-term position, but I haven't added to it for years (I do, however, allow the annual dividend payout, too small that it is, to be reinvested). I'm waiting for the day when the shares finally break through $40. Disney hasn't seen $40 since, well, I don't even want to think how far back that price level goes.

This past week has been fascinating for the Mouse's investors. The media business was upgraded. There's been interesting activity going on in the company's options, as Schaeffer's Investment Research indicates. And the stock hit a fresh 52-week high of $33.22 on Friday; in fact, it closed at the 52-week high, right before the weekend, no less.

Disney (DIS), a major media company that competes with CBS (CBS), General Electric's (GE) NBC Universal, News Corp. (NWS), Sony (SNE), Time Warner (TWX), and Viacom (VIA), offered up fiscal Q1 data after the bell on Tuesday. From the looks of things, the Mouse had a good quarter.

According to my earnings preview, the call was for net income to come in at 39 cents per share on an adjusted basis. Disney actually made 47 cents per share. Not only was that a more than acceptable beat, but it represents growth of 15%.

I love the media sector, so Tuesday, February 9, will be an exciting day for me. After the market finishes its trading activities, we'll get reports from two entertainment companies: one's a big player in Hollywood, while the other would like to be just as big someday.

Let's start with the big gun. The Walt Disney Corporation (DIS) has first-quarter numbers all set to go, and investors are hoping for an unambiguous beat on the bottom line. The call is for net income to fall somewhere around 39 cents per share, according to Earnings.com. Kind of lousy, considering the Mouse made 41 cents per share in last year's Q1.

Here's an interesting article over at ICv2.com. As you may have heard, the Spider-Man franchise is about to undergo a mutation. Sony (SNE) apparently had creative differences with director Sam Raimi over the script for the fourth iteration in the series featuring Tobey Maguire as the titular character. This unfortunately led to a parting of the ways, and the need for a reboot, as they say in Hollywood.

There's an interesting business aspect to the deal that makes it imperative for Sony to come out with a new Spider-Man on a pretty regular basis. The rights will revert back to Marvel if Sony does nothing with them. Guess it's a use-it-or-lose-it deal.

I'm sure many observers believe Disney is gearing up for a prosperous 2010. If you pull up a one-year chart over at AOL quotes, you'll note the remarkable uptrend the shares have been in; this uptrend is not only appealing to traders, but to investors as well. Investors like me.

The video game industry, as we are all aware, has taken a sharp turn from momentum growth. The various stocks in the sector, from my standpoint at least, are now becoming value-oriented plays. When this happens, the concept of consolidation comes into focus.

Trying to pick a stock that will experience a pop on a buyout is not for the faint of heart, or the impatient. And depending on the stocks you own, you might be hoping that you don't become involuntarily involved in an arbitrage scenario. That's why I was pleasantly relieved when I read an article stating that The Walt Disney Company (DIS) CEO Bob Iger may not be interested in purchasing a software publisher.

Disney (DIS), the media company behind Mickey Mouse and Buzz Lightyear, and whose colleagues in the industry include CBS (CBS), General Electric's (GE) NBC Universal, News Corp. (NWS), Sony Corporation (SNE), Time Warner (TWX), and Viacom (VIA), reported results for Q4 and the full fiscal year on Thursday after the bell. While the bottom line came in ahead of expectations, I have to say that the release was disappointing to this shareholder.

Earnings on an adjusted basis for the quarter came in at 46 cents per share, higher than the number predicted by analysts. Unfortunately, as I go through the data, I don't think I'm too comforted by such income performance.

Disney (DIS), a media business that competes with Viacom (VIA), CBS (CBS), News Corp. (NWS), and General Electric's (GE) NBC Universal, will be talking up its fourth-quarter numbers on Thursday after the bell. Are you a shareholder? If so, are you excited? Well, don't get too excited, because we might not be getting any growth, even if the Mouse beats on the bottom line. According to Earnings.com, the call is for 40 cents per share versus the 43 cents per share made in the comparable period.

You know what, though? For the most part, I'm not so concerned with exactly how much Disney makes this quarter. I'm a shareholder, and I want to see management at least come in at the estimate, of course, but I'll be more interested in the conference call. Way more interested this time around, in fact.

Hasbro Inc. (NYSE: HAS), the toy and game maker whose brands include Transformers, Playskool, Milton Bradley, and Wizards of the Coast, is scheduled to discuss its third quarter 2009 financial results in a webcast Monday at 8:30 AM ET. You can catch the webcast live or replayed on the company's website.

The three months that ended in September included Comic-Con, the release of the G.I. Joe movie, and the introduction of the Hasbro Studios management team. Analysts surveyed by Thomson Reuters expect this Pawtucket, R.I.-based toy maker to report that earnings grew 4.3% from a year ago to $0.93 per share. Sales for the quarter are expected to be 1.7% higher to $1.3 billion.

Goldman Sachs believes that the company should see a lot of prosperity in the next six months. The stock might even rise as high as $45 per share, if the price target is to be believed. The premium attached to 3-D movie tickets is part of the thesis here. As well as something else, something a lot more powerful: the franchise value of Shrek.