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Disney's Upcoming Movies Give Cramer Hope Despite Earnings Miss

Walt Disney (DIS - Get Report) shares tumbled in midday trading Wednesday after the entertainment company failed to meet analysts' revenue and earnings per share projections amid lower theme park attendance and subscriber losses at its ESPN channel.

Despite the miss, Action Alerts PLUS portfolio manager Jim Cramer, TheStreet's founder, holds a favorable opinion on the Burbank, Calif., company, whose stock was off 4.1% to $102.25. On Tuesday, Disney said it posted revenue of $13 billion in the fiscal second quarter. CNBC reported analyst expectations were $13.2 billion. ESPN, owned by Disney, encountered some headwinds as...