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Disney net beats Wall Street view as parks do well

    LOS ANGELES (Reuters) - Walt Disney Co reported a drop in quarterly profit on Tuesday, but its shares rose 2.6 percent as the No. 2 U.S. entertainment company beat Wall Street expectations and reported strong results at theme parks and its television business.

    Disney shares traded at a ratio of 13.2 times estimated fiscal 2009 earnings, compared with 14.2 times earnings for Time Warner Inc and 13.5 for News Corp .

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