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Dreamworks Animation SKG Inc (DWA)

  • Sep. 30, 2014, 9:29 AM
    • Shares of DreamWorks Animation (NASDAQ:DWA) take another leg down after more reports surface indicating Softbank's interest in an acquisition has cooled off.
    • What to watch: Many media analysts think a DWA acquisition is still on the horizon even if Softbank takes a pass, although they note the board may have to come off its lofty acquisiton price expectation.
    • DWA -9.5% premarket
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  • Sep. 30, 2014, 9:11 AM
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  • Sep. 30, 2014, 6:57 AM
    • A new report has surfaced from The Hollywood Reporter stating that Japan's SoftBank (OTCPK:SFTBY) is in talks to acquire a minority stake in privately held movie studio Legendary Pictures. The publication says the talks have been going on for weeks.
    • The news comes following reports that SoftBank's discussions to buy Dreamworks Animation have cooled.
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  • Sep. 29, 2014, 5:47 PM
    • The WSJ says it "wasn't immediately clear" what led buyout talks between SoftBank (OTCPK:SFTBF) and Dreamworks (NASDAQ:DWA) to cool. The paper now reports the companies "could ultimately strike a deal other than an outright takeover ... for instance some kind of content partnership."
    • DWA -7.4% AH to $26.10. Shares rose 26% in regular trading on reports of acquisition talks featuring a $32/share offer.
  • Sep. 29, 2014, 12:49 PM
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  • Sep. 29, 2014, 10:42 AM
    • DreamWorks Animation (DWA +16.6%) could benefit enormously from an acquisition by a larger company, according to media analysts.
    • Though the studio has several valuable franchises, earnings have been overwhelmed by a few theatrical misfires.
    • A larger slate of films and expanded distribution network in a takeover could help smooth out results.
    • Talk of a takeover by Softbank has simmered down a bit this morning, although other Asian media giants could still be lurking, say industry insiders.
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  • Sep. 29, 2014, 9:16 AM
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  • Sep. 29, 2014, 7:43 AM
    • Shares of DreamWorks Animation (NASDAQ:DWA) run higher in early trading on reports SoftBank is interested in making an acquisition at $32 per share.
    • DWA +22.99% premarket to $27.50.
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  • Sep. 28, 2014, 5:06 AM
    • SoftBank (OTCPK:SFTBY) is in talks to buy DreamWorks Animation (NASDAQ:DWA) in a deal that would value the company at $3.4B, states The Hollywood Reporter.
    • Under the proposed deal, DWA founder and CEO Jeffrey Katzenberg would sign a five-year contract to remain with the company.
    • SoftBank is said to have offered $32 per share for DreamWorks, a substantial premium to the stock's Friday closing price of $22.36.
  • Sep. 9, 2014, 4:29 AM
    • A new federal lawsuit accuses Walt Disney (NYSE:DIS), Sony Pictures (NYSE:SNE), DreamWorks Animation (NASDAQ:DWA) and others of conspiring not to hire each others' workers, artificially depressing wages.
    • Many emails have surfaced supporting the allegations which display company execs discussing "no-raid" agreements.
    • The lawsuit covers conspiracy claims dating all the way back to 1986, with other defendants entering similar agreements by the mid-2000s.
  • Aug. 20, 2014, 7:07 AM
    • Janney Montgomery Scott reiterates its Buy rating on DreamWorks Animation (NASDAQ:DWA).
    • A strong global box office response to How to Train Your Dragons 2 bodes well for the future of the franchise.
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  • Aug. 18, 2014, 11:44 AM
    • The top 12 films in the U.S. took in $128.8M over the weekend to mark a 6% improvement over last year's corresponding haul.
    • U.S. box office sales for August are on track to set a record for the month.
    • The development gives some support to the argument that the weak box office in June and July was tied to a weak slate - not fundamental demand shifts.
    • Teenage Mutant Ninja Turtles (VIA, VIAB) and Guardian of the Galaxy (NYSE:DIS) took in $28.4M and $24.7M, respectively, to dominate the weekend - while Expendables 3 (NYSE:LGF) limped in with a disappointing $16.3M opening.
    • Related stocks: RGC, AMC, CNK, IMAX, RLD, SNE, CMCSA, TWX, MCS, RDI, CKEC, FOXA, DWA.
  • Aug. 18, 2014, 9:22 AM
    • DreamWorks Animation (NASDAQ:DWA) hires Fazal Merchant to be its new CFO.
    • The exec was hired away from DirecTV where he was the CFO of the Latin America business.
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  • Aug. 15, 2014, 2:59 PM
    • How to Train Your Dragon 2 took in $5.6M on its opening day in China to put its box office cume over the $500M mark.
    • The movie was produced by DreamWorks Animation (DWA +1.3%) and distributed by 21st Century Fox (FOXA +0.1%).
    • What to watch: Analysts note that positive reviews for Dragons 2 in many key global markets bodes well for the franchise after the initial box opening in the U.S. underwhelmed.
  • Aug. 11, 2014, 8:11 AM
    • A SEC probe into DreamWorks Animation (NASDAQ:DWA) over the slow timing of its write-off on Turbo continues to linger over the company.
    • On top of the government investigation, several class action shareholders lawsuits are off and running.
    • Drawing some notice are the stock sales by CEO Jeffrey Katzenberg last  October and November - several months after Turbo's release, but before the writedown announcement.
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  • Jul. 30, 2014, 1:30 PM
    • Shares of DreamWorks Animation (DWA -12.6%) sink to a 52-week low after the company misses Q2 earnings estimates.
    • On top of the weak performance in the quarter from the studio, the company is being threatened in several shareholder class-action lawsuits.
    • A couple of investment firms soured on DWA amid the new developments. Cowen lowered its full-year EPS forecast to -$0.15 and FBR Capital lopped off $4 from its PT to take it to $20.
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Company Description
Dreamworks Animation SKG, Inc. creates and exploits family entertainment, including animated feature films, television series and specials, live entertainment properties and related consumer products.