Thu, Nov. 5, 4:14 PM
- DreamWorks Animation (NASDAQ:DWA) has leapt 14.8% after a Q3 report where it posted a profit after excluding restructuring costs.
- Net income was $1.4M after adjusting for $3.6M in pretax charges connected to the company's January restructuring plan.
- Revenue by segment: Feature films, $157.9M (up 10.9%); Television Series and Specials, $50.7M (up 255%); Consumer products, $27M (up 123%); New Media, $20.7M (up 144%); other, $2.9M.
- The company notes that Home (its only slated theatrical film this year) has hit $386M in worldwide box office, and contributed $49.7M to the feature film segment this quarter.
- Conference call to come at 4:30 p.m. ET.
- Press release
Thu, Nov. 5, 4:05 PM
Wed, Nov. 4, 5:35 PM
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Fri, Oct. 30, 3:35 PM
- DreamWorks Animation (NASDAQ:DWA) is among today's top losers in media, down 8.7% as Bank of America/Merrill Lynch downgraded the stock to Underperform, from Neutral.
- The analysts have a $16 price target. Shares closed yesterday at $21.94, and are down to $20.04 today.
- After a bit of a rebound from a rough 2014, DreamWorks shares have fallen anew in the past three months, down 18%.
- Overall, analyst consensus is for a Hold rating with a $21 target.
- Previously: DreamWorks Animation -5.1% as net loss widens on restructuring cost (Aug. 04 2015)
- Previously: DreamWorks his 15-month high on bullish Stifel note (Jun. 05 2015)
Tue, Oct. 27, 4:37 PM
- DreamWorks Animation (DWA -2.9%) has added Maggie Wilderotter to its board of directors.
- Wilderotter is executive chairman of Frontier Communications and was its CEO from 2006 until relinquishing that title earlier this year.
- Wilderotter has been hitting the boards since leaving Frontier's CEO post. In addition to serving at Frontier, she has seats at Juno Therapeutics, Xerox, and (as of earlier this month) Costco.
Mon, Oct. 5, 6:30 PM
- Dreamworks Animation (DWA +1%) unit AwesomenessTV has entered into an international partnership with Endemol Shine Group unit Endemol Beyond to spread AwesomenessTV content worldwide.
- The deal will result in launches of local-language, owned and operated channels in markets that include the UK, France, Germany, Spain and Brazil.
- New content will include long-form series and formats for digital video and linear TV.
- Endemol Shine -- half owned by Twenty-First Century Fox (FOX +1.4%, FOXA +1.1%) -- brings global expertise to the table, with creative operations in 30 different markets.
Mon, Sep. 28, 6:28 PM
- DreamWorks Animation (NASDAQ:DWA) finished up against a sharply lower market, +0.4%, after Piper Jaffray reiterated its Overweight rating.
- The analysts are still bullish on the studio despite a share price pullback that's seen the stock fall 38% in three months.
- Piper has a quite bullish price target on the shares of $31; from today's close of $17.21, it implies over 80% upside.
- The price is just rebounding from a 52-week low of $17.02 hit last Thursday. Overall, the consensus rating on DWA is Hold, with a price target of $21.69.
Wed, Aug. 26, 4:48 PM
- Michael Francis, chief global brand officer at DreamWorks Animation (NASDAQ:DWA), will leave his post in December.
- He'll continue working with the studio as an external consultant, and will serve as a board member for AwesomenessTV. Jim Fielding, head of global consumer products, will take over the licensing and franchise management businesses.
- Francis -- formerly global chief marketing officer for Target -- had overseen branding, licensing, consumer products and franchise management since 2013.
Mon, Aug. 24, 10:24 AM
- DreamWorks Animation (NASDAQ:DWA) is bucking a panic-selling market -- actually trading in positive ground briefly before slipping to -0.7% -- following an upgrade by B. Riley, to Buy.
- It's a notch move from the firm's Neutral rating. Riley holds a price target of $26; shares had closed Friday at $19.08.
- Eric Wold noted that the studio's shares have continued to slide this summer despite positive catalysts that "have helped, in our opinion, to boost the studio’s profitability outlook heading into 2016."
- Despite its much-needed hit in Home, the studio has a "much to prove with the revamped slate focus and reduced overhead structure. Nevertheless, we view the pullback in the shares as an attractive entry point for investors with a longer-term focus as the turnaround year progresses further."
- Previously: DreamWorks up 8% as moviegoers bring 'Home' the bacon (Mar. 30 2015)
- Previously: DreamWorks to sell campus HQ to SunTrust unit (Feb. 26 2015)
- Previously: DreamWorks pummeled after brutal quarter; rough year ahead (Feb. 24 2015)
Tue, Aug. 4, 5:41 PM
- DreamWorks Animation (NASDAQ:DWA) has now slipped 5.1% after hours, after beating expectations on top and bottom lines even as net loss widened due to the company's ongoing restructuring, which has involved deep staff cuts and the sale of its headquarters this year.
- Revenue grew almost 40% Y/Y as Home -- the studio's only theatrical release for the year -- contributed $23.9M in film revenue for Q2. The film hit physical DVD and Blu-ray before quarter's end, and overall it's earned $177M domestically and $209M internationally at the box office (total $386M worldwide).
- Adjusted results exclude a $20.9M pretax charge (an effect of $0.25 share on earnings) associated with the restructuring plan. Some $2.4M was due to termination and employee-related costs, $10.9M on accelerated depreciation/amortization with the closure of Redwood City, and $7.6M related to excess staffing tied to the film slate.
- In the company's earnings call, CEO Jeffrey Katzenberg said “While there is still much work to be done, I’m really proud of what our team has accomplished this quarter."
- Press Release
Tue, Aug. 4, 4:20 PM
Mon, Aug. 3, 5:35 PM
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Thu, Jul. 23, 6:10 PM
- DreamWorks Animation (NASDAQ:DWA) will get at least a bit of a new boost from its February $185M HQ sale to SunTrust (NYSE:STI) -- as SunTrust Equity turned around to sell it to Griffin Capital for $215M.
- DreamWorks has a 50/50 profit sharing agreement with SunTrust, so it will get some benefit from the quick price appreciation.
- The company sold the 460K-square-foot campus and leased it back for 20 years as part of a restructuring earlier this year. DWA pays $13.2M a year, increasing 1.5% annually.
- Meanwhile, FBR Capital upgraded DWA today to Market Perform, from Underperform, and set a price target of $26, up from $17. Shares closed today up 0.1% to $25.78.
- Previously: SunTrust puts DreamWorks HQ back up for sale (Mar. 11 2015)
- Previously: DreamWorks to sell campus HQ to SunTrust unit (Feb. 26 2015)
Tue, Jun. 23, 11:52 AM
- AwesomenessTV -- a unit of DreamWorks Animation (NASDAQ:DWA) -- is launching a film division, The Hollywood Reporter says.
- The company has hired Matt Kaplan, founder of Chapter One Films, to build the group and plan for 12-15 films for theatrical and digital distribution.
- Once a YouTube channel targeted to young adults, the company has grown to provide hours of content including a sketch comedy series for Nickelodeon and a deal to supply 200 hours of original video to Verizon's upcoming streaming service, as well as a deal working with YouTube creators on feature films.
- Previously: YouTube investing in original content, film deal with DreamWorks (Apr. 28 2015)
- Previously: DreamWorks 2.3% higher as Verizon orders 200 hours of TV (Mar. 11 2015)
Fri, Jun. 12, 5:37 PM
Wed, Jun. 10, 3:55 PM
- DreamWorks Animation (NASDAQ:DWA) is 4.9% lower today after two firms launched coverage on the studio with Sell ratings.
- Credit Agricole initiated DreamWorks at Sell, with a $17 price target. CLSA also started coverage at the same rating and $17 price target.
- Shares are trading today at $26.46, its lowest point this month and 11% down from the 15-month high it hit last Friday on a bullish upgrade from Stifel Nicolaus.
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