Stocks in the news: Walt Disney, J.C. Penney, Abercrombie & Fitch

Walt Disney Co. (DIS) reported late Thursday its fourth-quarter earnings grew 18% on improved results at cable network ESPN and syndication sales of "Grey's Anatomy" and "Desperate Housewives." The results were above estimates and showed improvement at the company's operations. Shares were 2.4% higher in pre-market trading.

J.C. Penney (JCP) reported Friday a lower quarterly profit of $27 million, or 11 cents a share, in line with estimates. Sales fell 3.2% to $4.18 billion in the third quarter. Same-store sales fell 4.6% during the quarter. But the retailer raised its forecast for the full year to a level that could top Wall Street expectations. Shares jumped nearly 5.5% ahead of the bell.