Ambev has to be one of the biggest disappointments going

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while operating income tanked 60% to $49 million. The reason was the strong performance of Toy Story 3 and Iron Man 2 in the third quarter of 2010, as opposed to the weaker performance of Cars 2 and Thor in the current quarter. At the same time, Pirates of the Caribbean: On Stranger Tides managed to largely offset the revenue drop, but hurt profitability given its own higher costs. “Our third quarter demonstrates the continued strength of our Media Networks, including ESPN, Parks and Resorts and Consumer Products,” said Robert A. Iger, President and CEO of The Walt Disney Company. “In these turbulent times, our company and its array of strong brands are well-positioned to deliver long-term shareholder value.” (Read Amazon beats Top And Bottom Line Despite Falling Profits ). Page 1 2 Continue World Cup Doesn't Pay For Shareholders Of Brazil Beer Maker Ambev. Beer production is up. And yet the biggest beer maker in the country is down. For a defensive stock, in a weak market, smack dab in the middle of the FIFA World Cup, Ambev has to be one of the biggest disappointments going for Brazil investors. With the exception of the last five days, Ambev has underperformed the Brazilian stock exchange. It’s even underperformed Petrobras Petrobras, which is arguably the most hated stock in Brazil despite having a fairly decent year in terms cheap fifa coins of equity gains. Ambev is down 5% over the last month. And it is falling against a backdrop of rising beer sales, and higher prices for that beer, too. Brazilian beer makers produced 3.2 billion liters of beer in the second quarter of the year in preparation for the World Cup, 12% more than it did last year, according to industry group CervBrasil. Estado de Sao Paulo’ s Broadcast news agency reported on Thursday that industry was going through an “endless summer”. It’s winter in Brazil at the moment. But that endless summer is not paying off for Ambev shareholders. The surf is definitely not up. On Wednesday, pollsters at Brazilian firm Ibope Repucom said the obvious: that beer and soccer were like chips and salsa. Yes, but apparently beer sales and Ambev are not. The World Cup has been increasing beer sales all year, following a weak 2013 when production dropped by 2.6%. From January to June, beer production rose by 11.2% compared to the same period last year. Beer prices have also risen. According to inflation data, they rose 10.3% this month, compared to the same two week period in June of 2013. That’s low compared to some Brazilian cities, where beer prices have gone through the roof. In Salvador, Bahia, home to World Cup matches, prices are up 25% in the last 12 months. In Rio, they’re up 16.9%.