Lower Open Gives Opportunity

This morning, the market is selling off ue to concerns of a global slowdown (read post below for details).  This decline has created a good opportunity to get into two companies that reported great quarters and are trading much lower than they should be just because the broader market is down big today.  These two companies are Macy's (M) and Disney (DIS).

Macy's (M)- Macy's net income rose to $147 million, or $0.35/share, from $7 million, or $0.02/share, in the year-earlier period, which included $0.18/share in restructuring charges. The company raised its full-year profit outlook to $1.85 to $1.90 a share from a previous forecast of as much as $1.80 a share. Also, and more importantly, Macy's management talked about taking market share from their competitors.  This is huge, and no one seems to be talking about this statement.

Disney (DIS)- Disney reported a net income of $10.0 billion, or $0.67/share vs what analysts expected of $9.34 billion, or $0.59/share.  Disney said the media networks revenue rose 19% to $4.70 billion and studio entertainment revenue rose 30% to $1.6 billion. Also, cable networks revenue rose $561 million to $1.70 billion and parks and resorts revenue rose 3% to $2.80 billion.  This was a great quarter for Disney, and ESPN has shown a huge improvement in ad revenue. 

Company	Symbol	Stock Price	52 wk Range
Macy's	M	20.32	14.01-25.25
Disney	DIS	34.37	24.89-37.98