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Dragged Down By ESPN, Disney Shares Continue to Tumble

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ESPN is still dragging down the stock prices of parent company Disney, whose shares fell another 5 percent this week.

The stock price fell after Disney CEO Bob Iger predicted flat earnings for the coming fiscal year, the New York Post reported.

Iger told investors that earnings wouldn’t not much change from the previous quarter. Stocks fell on Thursday from $100.86 to $96.69 upon the announcement.

The entertainment giant was upbeat about its Star Wars and Marvel properties, but ESPN still troubles the company’s bottom line.

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