The earnings season has been going pretty good so far, and Walt Disney (DIS) will get its chance to impress Wall Street this afternoon when it reports its fiscal first quarter results after the market closes.

Going into this afternoon's report, analysts are expecting to see the company report earnings of $0.56 per share, up from $0.47 during the same period last year.

Lionsgate (LGF) needed The Expendables to be a hit, as I noted last week. And management scored on that count. According to early estimates for domestic theatrical performance at Box Office Mojo, the movie nabbed first place with $35 million over the three-day weekend.

Coming in a strong second was Sony's (SNE) Eat Pray Love, which had a ton of buzz surrounding it going into its debut, capturing $23 million. Not bad.

Disney (DIS) will tell investors how it did during the fiscal third quarter on Tuesday after the market closes for the day. The company will hopefully report some great numbers because, quite frankly, the stock has been somewhat boring this summer; a little fundamental excitement would, at the very least, ease the tedium of the price action.

Net income is expected to be somewhere around 58 cents per share. That's six pennies higher than the previous year's performance. That wouldn't be bad, I suppose, given the economic climate, but I certainly hope that the Mouse has more than a six-penny increase up its sleeve. Back in the second quarter, management was able to beat the estimate.

There wasn't much suspense over the Fourth of July weekend, was there? At least not with the movies that were competing in the marketplace. Summit Entertainment's The Twilight Saga: Eclipse took in about $69 million over the three-day weekend (Friday through Sunday) at domestic theaters, according to early estimates over at Box Office Mojo. That figure easily put the flick ahead of all its colleagues. It actually opened last Wednesday, so its total gross is approximately $160 million.

Last week, Steven Mallas asked, Disney's 'Toy Story 3' Is Here: Does the Market Care? We'll see Monday how Wall Street rewards Walt Disney Company's (DIS) shares, but this weekend's box-office receipts indicate that moviegoers very much care about the continuing adventures of Buzz, Woody, and the rest of the gang. Fans were waiting anxiously for the latest installment of the Tom-Hanks-led franchise, which hit theaters initially in 1995 (part 2 was released in 1999).

The film was a strong number-one at the box office this weekend (the 11th Pixar title to nab the top spot) and secured $109 million in North American ticket sales. Analysts are now targeting a domestic gross of more than $400 million. This was Pixar's best opening ever (even when adjusting for inflation).

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.