Like a bad, late-night Cinco de Mayo burrito sitting heavy in your stomach (post-2 a.m. street meat is never a good idea), some sour quarterly earnings reports weighed heavy on investors on Tuesday. The Dow Jones Industrial Average (DJINDICES:^DJI). fell 130 points as Wall Street continues to sell down the tech stocks it's been buying up all through 2014.
What's making Disney stock more fun than Disney rides? Frozen, the animated holiday movie. Just last month, the film topped $1 billion in total ticket sales, making it officially the highest-earning animated film in history. Plus, because kids want to also hang out with Olaf, the movie's talking snowman lead, nine out of the top 10 toys sold in Disney stores were related to Frozen.
The takeaway is that Mickey doesn't have all his eggs in one basket. It ain't just Frozen tickets that are driving Disney's stock price up. Disney theme parks set attendance records last year -- and the company just announced that it's investing $800 million in Shanghai Disney and is completing the much-anticipated Seven Dwarfs Mine Train later this month. It'll be the first new roller coaster in Disney World since '06. We'll always be faithful to Splash Mountain, though.
2. Office Depot surges despite 400-store shutdown
Staple these earnings to the front of your screen. America's favorite "No. 2 pencil" supplier, Office Depot (NASDAQ:ODP), reported first-quarter earnings of $4.4 billion, just barely above the $4.3 billion Wall Street projected. Add to that the costs of the company's November merger with Office Max, and the Depot swung to a $109 million net loss.
- First-quarter earnings reports: Ceasars Entertainment, Hugo Boss, Molson Coors
- Federal Reserve Chairwoman Janet Yellen speaks to Congress
As originally published on MarketSnacks.com
Jack Kramer and Nick Martell have no position in any stocks mentioned. The Motley Fool recommends Molson Coors Brewing and Walt Disney and owns shares of Walt Disney. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.