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Is Disney’s magic back?

Kevin O'Leary & the Halftime Report traders debate it.

Disney popped on Wednesday on the heels of a better-than-expected earnings report, strong performance of its films including "Captain American" and "Finding Dory", and new move into the streaming business.

So, is Disney's magic back? Kevin O'Leary, O'Shares Investments chairman and a judge on "Shark Tank," believes so.

"I personally went into the stock today, which I haven't done in a long time," O'Leary said on CNBC's "Halftime Report". "I like what I heard from [Iger]."

O'Leary said Iger showed guts in his move to go over-the-top with ESPN revenue. "[Iger] signals he gives a damn and is holding it together."

Josh Brown agrees with O'Leary's bullish stance. "Disney is fine. At the end of the day, they have the content and will figure out a way to make money from delivering it appropriately," Brown added.

Jon Najarian expects dynamic pricing to be a huge driver. "Look how people can move prices on attractive events," Najarian argued.

Shares of the media company are trading 20-percent off its 52-week high hit in November.

Steve Weiss erred on the side of caution and expects lower growth for ESPN.

—By CNBC Producer Bree Kelly. Follow her on Twitter @Bree_Kelly

Trader disclosure: On August 10, 2016, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Halftime Report" traders:

STEVE WEISS: Long AAL, ADC, AGN, ATVI, CAVM, HZNP, SRPT, VXX

JOSH BROWN: Long AAPL, AMGN, BMY, CORE, DE, DNKN, GE, NVDA, SAM, SHAK, TWTR, XLE

JON NAJARIAN : Long Calls AAPL, DB, DLPH, GLD, GPRO, HFC, HOG, HOLX, IP, KATE, LGF, MAS, MSFT, PAAS, PSX, SLW, TASR, TJX, TWTR, WTW, VLO, XON, YELP

KEVIN O'LEARY: Long: DIS, DPS, HSY, LLTC, NOC