DreamWorks Animation Is A Nightmare
Feb. 24, 2015, 4:10 PM
- Dreamworks Animation (NASDAQ:DWA): Q4 EPS of -$0.75 may not be comparable to consensus of -$3.01.
- Revenue of $234.24M (+14.7% Y/Y) misses by $11.93M.
Feb. 23, 2015, 5:35 PM
- ACAS, AMRS, ARC, AWAY, AWK, BBRG, BGFV, BNFT, BOOM, CBI, CENX, CLGX, CLR, CPRT, DPM, DWA, DY, DYN, EIX, EPR, EXEL, FLTX, FMI, FSLR, GB, GNMK, HEI, HEP, HLS, HPQ, HURN, HWAY, INFI, JAZZ, KONA, KRA, LC, MATX, MMSI, NDSN, NFX, NKTR, NLY, NSTG, NUVA, NYMT, ORA, PZZA, QEP, RJET, RLYP, RRC, RUBI, SAM, SGY, SLCA, SM, TNDM, TRNX, TXTR, VRSK, VVUS, WBMD, XCO, Y, ZAGG
Jan. 28, 2015, 3:39 PM
- DreamWorks Animation (NASDAQ:DWA) is off 6% -- trading lower for the second day in a row, and down 15.6% since its announcement of layoffs and a smaller film slate.
- The studio said it would lay off 18% of its workforce and concentrate on just two films a year instead of three (only one film, Home, is set for 2015).
- In the wake of some box-office disappointments, CEO Jeffrey Katzenberg says it's time for him to focus more on the studio's core filmmaking business.
- Not all outlooks are grim; along with Piper Jaffray's upgrade, B. Riley has upgraded the stock to Buy, and The Hollywood Reporter notes the studio can draw $250M in credit if needed, along with selling unencumbered assets like its Glendale, Calif., campus for hundreds of millions more.
- Shares are off 44% in the past year.
Jan. 23, 2015, 9:11 AM
Jan. 23, 2015, 7:26 AM
- Cowen Research downgrades DreamWorks Animation (NASDAQ:DWA) to an Underperform rating after revisiting its thesis following the company's downsizing announcement.
- Upside potential is limited, reasons Cowen.
- Piper Jaffray takes the other of the trade, upgrading the studio stock to Overweight and assigning a $26 price target.
- The take from Piper is that future writedowns are unlikely with DreamWorks already throwing in the kitchen sink.
- Previously: Management shake-up at DreamWorks Animation (Jan. 05 2015)
- Previously: DreamWorks Animation confirms layoffs (Jan. 23 2015)
- DWA -1.45% premarket.
Jan. 23, 2015, 2:15 AM
- Confirming earlier reports, DreamWorks Animation (NASDAQ:DWA) announces it will cut 500 jobs, about one-fifth of the work force, as part of a plan to restructure its core feature animation business.
- DWA also says it will lighten its management structure, firing three top executives, and will produce only two feature films a year, instead of three, starting in 2016.
- The studio expects to incur a pre-tax charge of about $290M in connection with the restructuring.
- DWA +1% AH
- Previously: Report: Layoffs on the way at DreamWorks Animation (Jan. 19 2015)
Jan. 22, 2015, 5:36 PM
Jan. 19, 2015, 7:40 PM
Jan. 5, 2015, 2:29 AM
- DreamWorks Animation (NASDAQ:DWA) is shaking up its creative ranks after a series of disappointments at the box office.
- The company’s chief creative officer, Bill Damaschke, is stepping down, while lead producers Bonnie Arnold and Mireille Soria will take over as co-presidents of feature animation.
- The two have produced a total of eight films at DreamWorks that have grossed more than $3.5B.
Dec. 31, 2014, 8:42 AM
- Streaming: Sony (NYSE:SNE), HBO (NYSE:TWX), CBS (NYSE:CBS), and Dish Networks (NASDAQ:DISH) are set to unveil streaming products in 2015. The theory of the companies that the skinny bundles will draw in more cord-cutters and cord-nevers than they will cannibalize current pay-TV subscribers will be put to the test. The rush of streaming options could help or hurt Netflix (NASDAQ:NFLX) depending upon which analysis an investor leans on.
- Theater traffic rebound: Exhibitors (CNK, RGC, AMC, CKEC, IMAX) and movie studios (LGF, VIA, VIAB, DIS, FOXA, CMCSA, TWX) maintain that the decline in theater attendance in 2014 (-6%) was due to a slate of films light on blockbusters. A bounce is forecast for 2015 with high-profile films such as Avengers: The Age of Ultron, The Hunger Games: Mockingjay Part 2, Fifty Shades of Grey, Jurassic World, Spectre (James Bond), and Mission Impossible 5 all set to premiere - along with the reboot of the Star Wars franchise in December. Capex spending on theater upgrades could also help boost in-theater spending and average ticket price for exhibitors.
- Mergers: If regulators allow the Comcast-Time Warner Cable (NYSE:TWC) and AT&T-DirecTV (NASDAQ:DTV) mergers to sail through it could clear a path for other media combinations, note analysts. Potential buyers include Alibaba (NYSE:BABA), Wanda Group, Softbank (OTCPK:SFTBY), and a TWX-rebuffed 21st Century Fox (NASDAQ:FOXA). Content producers which could be targets include Starz (NASDAQ:STRZA), Lions Gate (NYSE:LGF), DreamWorks Animation (NASDAQ:DWA), AMC Networks (NASDAQ:AMCX), and Scripps Networks (NYSE:SNI). A split-up Madison Square Garden (NASDAQ:MSG) could also be enticing.
Dec. 11, 2014, 6:07 PM
- DreamWorks Animation (NASDAQ:DWA) announces it sold a 25% stake in AwesomenessTV to Hearst Corporation for $81.25M.
- The two companies plan to partner together on growing the YouTube property aimed at teenagers.
Dec. 10, 2014, 2:06 AM
- DreamWorks Animation (NASDAQ:DWA) plans to launch its own television channel in 19 Asian countries during the second half of 2015 as part of a diversification strategy to find much-needed revenue outside of movie theaters.
- Television shows produced by the studio already air in Europe, Latin America and on Netflix.
- DreamWorks Animation expects to make the channel available through pay television packages or by selling it directly to consumers as an Internet-delivered option.
Dec. 1, 2014, 9:13 AM
Dec. 1, 2014, 9:11 AM
- The Hunger Games: Mockingjay Part 1 took in $56.9M in the U.S. over the Thanksgiving weekend to easily top new competitors.
- The Lions Gate (NYSE:LGF) film is now over $123M globally.
- Penguins of Madagascar debuted in the U.S. with $25.8M for producer DreamWorks Animation (NASDAQ:DWA) and distributor Fox. The disappointing response has hit shares of DWA in early trading.
- DWA -7.1% premarket.
Nov. 26, 2014, 9:04 AM
Nov. 17, 2014, 12:47 PM
DreamWorks Animation SKG, Inc. engages in the business of development, production and exploitation of animated films and their associated characters in the worldwide theatrical, home entertainment, television, merchandising and licensing and other markets. It operates through two segments: Film... More
Industry: Movie Production, Theaters
Country: United States
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