By James Caldwell, Torch assistant editor

The stock market has responded favorably to WWE's earnings report this morning. The stock price has steadily increased throughout the day to a 2.9 percent increase at the time of this posting.

WWE's stock price closed at $13.41 per share on Wednesday and climbed to $13.90 at its highest point today. The volume of trading has been light for an "earnings report day," reflecting many shareholders holding onto their stock based on WWE's report.

The AP headlined with: "World Wrestling Entertainment 2Q profit doubles," which certainly had a positive impact on WWE's business today for shareholders or potential shareholders looking to make a snap judgment on WWE's stock based on reading a headline.

Looking at analyst expectations before today's reporting, WWE was expected to report earnings of $0.18 per share and WWE came in well ahead of expectations at $0.27 per share. That had a positive impact on business with more people buying shares of stock thus far today.

On the other hand, WWE missed analyst expectations for revenue. Analysts expected $140.6 million in total revenue for the quarter, but WWE reported $138.8 million.

Looking at the macro-economic picture today, the stock market has been down overall today. The Dow Jones index is down 32.5 points and the NASDAQ is down 16.5 points at the time of this writing. WWE is fighting against a tough day in the stock market, which has potentially led to their stock price being pushed down to offset a favorable earnings report.

At the end of the day, many shareholders held onto their shares (reflected in the light volume of trading), but the hit (profit) outweighed the miss (revenue), resulting in the favorable 2.9 percent increase in the stock price as of this posting.

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