Dwa recovers from lows, but still ends Friday down $1.64 from prior day’s close
DreamWorks Animation Skg Inc. (Dwa) is weathering the storm on the Nasdaq stock exchange.
A day after CEO Jeffrey Katzenberg announced an upcoming large-scale layoff and decreasing annual movie output, the company closed the regular Nasdaq trading day at $19.67, down $1.64 per share from the prior day’s close, or a negative 7.70 percentage points.
Also Read: DreamWorks Animation’s Road to Recovery Shaky, Analysts Say
Thursday’s close saw Dwa settle at $21.31 per share, which was up from Wednesday; however, shares experienced an after-hours dip to open Friday at $19.38 per share.
DreamWorks Animation Skg Inc. (Dwa) is weathering the storm on the Nasdaq stock exchange.
A day after CEO Jeffrey Katzenberg announced an upcoming large-scale layoff and decreasing annual movie output, the company closed the regular Nasdaq trading day at $19.67, down $1.64 per share from the prior day’s close, or a negative 7.70 percentage points.
Also Read: DreamWorks Animation’s Road to Recovery Shaky, Analysts Say
Thursday’s close saw Dwa settle at $21.31 per share, which was up from Wednesday; however, shares experienced an after-hours dip to open Friday at $19.38 per share.
- 1/23/2015
- by Tony Maglio
- The Wrap
Dwa was down nearly $3 per share within the first 10 minutes
Immediately following Nasdaq’s Friday opening bell at 9:30 a.m. Et, DreamWorks Animation Skg Inc. stock (Dwa) began trading down, as many analysts expected.
The initial decreases were not much more severe than the after-market trading. At 9:40 a.m. Et (so, 10 minutes of regular trading), Dwa was fluctuating around $18.40 per share — down $2.91 from the prior market close, or 13.66 percent.
Also Read: President Barack Obama Speaks at DreamWorks (Photos)
Pre-market, it was hovering about half a buck higher: At 9:10 a.m. Et, for example, Dwa was trading for...
Immediately following Nasdaq’s Friday opening bell at 9:30 a.m. Et, DreamWorks Animation Skg Inc. stock (Dwa) began trading down, as many analysts expected.
The initial decreases were not much more severe than the after-market trading. At 9:40 a.m. Et (so, 10 minutes of regular trading), Dwa was fluctuating around $18.40 per share — down $2.91 from the prior market close, or 13.66 percent.
Also Read: President Barack Obama Speaks at DreamWorks (Photos)
Pre-market, it was hovering about half a buck higher: At 9:10 a.m. Et, for example, Dwa was trading for...
- 1/23/2015
- by Tony Maglio
- The Wrap
“They have a very risky business model,” one consultant tells TheWrap about the animation company’s restructuring plan
DreamWorks Animation’s announcement that it will slash its workforce by nearly 20 percent and its film output by a third underscores a struggling genre and the company’s desperation to survive after merger talks failed.
An SEC filing Thursday details Dwa’s reduction strategy, a plan some analysts say is a risky model that at best will keep the struggling animation studio afloat, but is not a long-term solution.
“It’s a company in a dire situation,” Rich Greenfield, Media & Tech Analyst at Btig & Angel Investor,...
DreamWorks Animation’s announcement that it will slash its workforce by nearly 20 percent and its film output by a third underscores a struggling genre and the company’s desperation to survive after merger talks failed.
An SEC filing Thursday details Dwa’s reduction strategy, a plan some analysts say is a risky model that at best will keep the struggling animation studio afloat, but is not a long-term solution.
“It’s a company in a dire situation,” Rich Greenfield, Media & Tech Analyst at Btig & Angel Investor,...
- 1/23/2015
- by Linda Ge and Matt Donnelly
- The Wrap
“I am confident that this strategic plan will deliver great films, better box office results, and growing profitability across our complementary businesses,” says CEO Jeffrey...
DreamWorks Animation will release two films per year, down from three, and cut approximately 500 jobs across the board in a restructuring of its core feature animation business, the company announced Thursday.
As part of the restructuring, top brass including Dawn Taubin, the studio’s marketing chief, Vice Chairman Lou Coleman and COO Mark Zoradi are leaving the company. The studio currently employs around 2,200 staff members and the cuts would make up about 18% of its workforce.
DreamWorks Animation will release two films per year, down from three, and cut approximately 500 jobs across the board in a restructuring of its core feature animation business, the company announced Thursday.
As part of the restructuring, top brass including Dawn Taubin, the studio’s marketing chief, Vice Chairman Lou Coleman and COO Mark Zoradi are leaving the company. The studio currently employs around 2,200 staff members and the cuts would make up about 18% of its workforce.
- 1/22/2015
- by Linda Ge
- The Wrap
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