Last week, Disney (DIS) hit $40 per share. It's something I've been waiting a long time to see. I know many investors, as well as traders, have done well, depending on when they purchased the stock. I myself started a position back in 1998. As far as I'm concerned, the company didn't do what I thought it would over the past decade-plus.

I'm hoping all that's about to change. Now that the Mouse has returned to the $40 area, perhaps it's a sign that $50, $60, maybe even $70 aren't the impossible prices I once thought they were. No, I'm not suggesting we'll see $70 in 12 months, or even in 24 months; I won't even suggest $60. But $50? Hey, let's just say when I look at the chart, I'm encouraged that new resistance levels may be taken out.

IMAX (IMAX) finished 2010 with a wild trading day. With a little over two-and-a-half hours to go before the market bell, I had noticed that the stock was up an incredible 15.6% to $31.05. On heavy volume. Yes, heavy volume, on the last day of the year.

What was the reason? There was some speculation about a buyout. StreetInisder.com had reported that Sony (SNE) was possibly interested in buying the business. Disney (DIS) was also mentioned as a potential acquirer.

Disney (DIS) released Tron: Legacy this past weekend. I wrote down some of my thoughts about the project ahead of the results. Well, the results are now in -- I dare any shareholder to say they weren't disappointing.

Actually, I'm sure there are some shareholders out there who possess the ability to skillfully spin the opening statistic to a more golden hue. I'm not one of them; in fact, I have no desire to do so. According to Box Office Mojo, the Tron sequel made $44 million. You know what? A $44 million take from domestic theaters for the first three days is lousy when one juxtaposes the significant marketing investment put in place to support the film. Indeed, there was no way for anyone not to know that the picture was hitting theaters in the middle of December.

Here we go again. It's another big movie weekend for The Walt Disney Company (DIS). The sequel to a science-fiction classic from the early '80s hits theaters today. The marketing for Tron: Legacy is everywhere right now (or it appears that way, at least). There are many news pieces musing about the importance of the flick to the studio. Question is, what does Wall Street think?

At the moment (about ninety minutes away from the closing bell), shares of Disney are down a penny to $37. That's exactly one dollar away from the 52-week high. The market as a whole isn't too exciting this afternoon anyway, but still, I would have liked to have seen a little more buying interest in the stock ahead of the movie (I'm a shareholder of the company).

According to an item highlighted by TheFly, it appears as if News Corp. (NWS) may be interested in selling MySpace. There are no guarantees, of course, but I'll tell you this: I hope a sale happens. And the sooner the better.

Sure, in theory, MySpace was a great acquisition. It was the hot destination on the web for a while. Reality, however, has a way of interfering with even the best ideas. The Internet can evolve very quickly; CEOs need to be extremely cautious about what they decide to buy when they are playing this part of the media game.

Shares of Disney (DIS) haven't strayed too far from where they were when the latest earnings report was released. It would have been nice if the numbers had acted as a catalyst for the stock (which I own), pushing it above the $40 mark. Didn't happen. Hey, we move on, right?

But Disney has another chance to prove to its investors that it's a great long-term holding. The Mouse's latest cartoon, Tangled, opened on Wednesday. The idea is to capture some value from the crowds that will be out at the multiplex during the Thanksgiving weekend. I sort of have a good feeling about this film.

Thursday, the company I fondly call the House of Mouse -- Walt Disney (DIS) -- released fourth-quarter earnings that eventually pushed the stock lower.

I am not as interested in the earnings results as I am in the news that my colleague Steven Mallas touched on in the first paragraph, the earnings were released earlier than expected. The company was supposed to report the earnings after the closing bell sounded, but the results were leaked nearly 30 minutes ahead of the final bell.

Disney (DIS) was higher by 1.8% to $36.56 at one point during Thursday's extended-hours session. At first glance, you might have believed, as I did, that the buying represented the immediate response to the fiscal fourth-quarter report, which was scheduled to come out after the market shut down for the day.

However, as this Forbes article highlights, the release came out earlier than expected, causing the stock to close down 2.8% by the conclusion of the regular session, presenting a very interesting scenario for the traders who were quick to react to the situation.

U.S. stocks closed lower yesterday, with the Nasdaq Composite Index losing 0.90%.

CBS (CBS) reported third-quarter earnings last Thursday after the bell. On Friday, the shares closed down 3.7% to $17.01. The 52-week high for the stock is $18.20. Although the one-year chart doesn't show a smooth uptrend, it does indicate that the shares have exhibited a certain amount of strength. But does the sell-off on Friday, which was backed by strong volume, tell us that the stock should be avoided?

I've been cautious about this company. I have to admit, though, that it delivered a decent Q3. The press release says that adjusted profit jumped 40% to 35 cents per share. According to the Associated Press, that figure beat projections by four pennies. The AP article also mentioned something not so surprising: advertising dedicated to political races helped the period.