Walt Disney (NYSE: DIS ) is up more than 1% today. In fact, it just hit a new 52-week high. I can't identify a specific event to explain today's rise. What I can tell you is that Disney has benefited from money flows into high-quality, stable franchises -- despite the fact that the current dividend yield, 1.1%, is below that of the Dow Index (INDEX: ^DJI ) or the S&P 500 Index (INDEX: ^GSPC ) . At 15.4 times the consensus estimate for the next 12 months' earnings, it now looks no more than reasonably priced -- which isn't all that bad, in this market!
International Business Machines (NYSE: IBM ) is another one of the Dow's top gainers today. The entire technology sector is outperforming today, and I suspect this has something to do with the way in which the market received Oracle's earnings. The enterprise software giant released results yesterday, and apparently meeting earnings expectations is the new "beat."
Finally, telco AT&T (NYSE: T ) is up nicely today -- nearly 1.5 percentage points. As Apple's hugely anticipated iPhone 5 goes on sale, there's no reason some of that hype shouldn't rub off on the carriers!