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Guy Adami: Any Dip in Disney Is an Opportunity

Shares Disney slipped about 3% in extended trade after the company posted earnings and revenue that missed Wall Street expectations.

Strong advertising growth at sports network ESPN and a bounce in theme park attendance after Japan's earthquake could not completely make up for a 13 percent drop in studio entertainment revenue in the fiscal second quarter.

The largest U.S. media conglomerate, smarting from the disappointment of the animated film "Mars Needs Moms," reported revenue of $9.08 billion in the quarter ended April 2.

Wall Street had expected revenue of $9.12 billion, according to Thomson Reuters I/B/E/S.

How should you trade it?

Guy Adami says, "any dip in Disney is an opportunity. I've liked it for a while and I continue to like it. Disney has a good dividend, a great balance sheet and as a media network company they're doing everything right. The trend is their friend."






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Trader disclosure: On May 10, 2011, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Weiss owns (VZ); Weiss owns (QCOM); Weiss owns (DE); Weiss owns (INTC); Weiss owns (MSFT); Weiss owns (COP); Weiss owns (DVN); Weiss owns (HK); Weiss owns (SWC); Weiss owns (NIHD); Weiss owns (UUP); Weiss owns (TBT); Weiss is short (X); Weiss is short (AKS); Cortes owns (K); Cortes owns (KFT); Cortes owns (SO); Cortes owns (EXC); Cortes owns (TGT); Cortes is short Nasdaq Futures; Cortes is short EUR vs. USD and CHF; Cortes is short EEM vs. S&P long; Adami owns (AGU); Adami owns (C); Adami owns (GS); Adami owns (MSFT); Adami owns (NUE); Adami owns (BTU)

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