The New York Times morphs into a wet blanket:.
,,, To the extreme irritation of the Walt Disney Company ... two important business camps — Wall Street and toy retailers — are notably down on “Up.” ...
Some industry watchers, a few of them still griping about the hefty $9 billion that Disney paid for Pixar in 2006, are fretting about the film’s commercial potential, particularly when it comes to benefiting other Disney businesses.
Richard Greenfield of Pali Research downgraded Disney shares to sell last month, citing a poor outlook for “Up” as a reason. “We doubt younger boys will be that excited by the main character,” he wrote, adding a complaint about the lack of a female lead ...
With moving pictures, the way it works -- as William Goldman says -- is that nobody knows anything, least of all the Wall Street smart alecks. (Though they've had such a sterling track record lately managing the known financial universe, it's tough to bet against them.)
Maybe Up will be a huge hit, maybe it ends up a middle-of-the-pack money spinner. My bet is, by the time the movie works its magic at the world box office and wends its way to DVDs and other ancillary markets, the Pixar opus will be comfortably in the black.
But it just might not be in the black enough for the ravenous expectations ensconced in lower Manahattan. And in that case, Disney stock will slide south, and all the finger waggers will come out to say: "We told you the price for that Emeryville studio was too high!", forgetting that they applauded loudly and pushed Disney stock up when it happened.
But some people are never happy, particularly ones who live on Wall Street.