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Stock Market & Financial Investment News

News Breaks
July 30, 2014
11:42 EDTDWADreamWorks falls after Q2 results miss, SEC probe disclosed
Shares of animated film-maker DreamWorks Animation (DWA) are tumbling after the company reported worse than expected second quarter financial results and revealed that the SEC is investigating its 2013 writedown on the movie "Turbo." WHAT'S NEW: DreamWorks Animation experienced a Q2 earnings per share loss of (18c), while analysts were expecting a loss of (2c). The company's Q2 revenue was $122.3M, which was below analysts' consensus of $137.86M. WHAT'S NOTABLE: During the company's conference call, DreamWorks said the SEC is investigating its 2013 writedown on the movie "Turbo," but noted that it is cooperating with the probe. Looking ahead, the company says that the continued performance of "How to Train Your Dragon 2" at worldwide box offices is expected to be the primary driver of its Q3 results. Significant events for Q4 include the theatrical release of the "Penguins of Madagascar " on November 26, as well as its home video/home entertainment release of both "Mr. Peabody & Sherman" and "Dragon 2." The company called 2014 an "investment year," as it is aiming to continue investing "heavily" in each of its areas of growth and expects its spending to continue during the second half and into next year. Commenting on to its Television unit, DreamWorks says it remains on track to debut 3 new series in the second half of the year and 7 new series in 2015. The company continues to expect that its 2015 television revenue will exceed $250M and that its profit margin for this segment will approach 30% as it ramp up production and delivery. ANALYST OPINION: Piper Jaffray analyst James Marsh is maintaining his Neutral rating on the shares as he expects the stock to continue to trade "sideways" until better perspective on the company's diversification efforts become evident. Marsh said he expects DreamWorks' investment spending and the SEC probe into the company's "Turbo" writedown will pressure shares. He said that he isn't certain about the nature of the investigation beyond the few remarks from management on the company's call, but based on what he knows at the moment, Marsh said that he doesn't see any big issues stemming from the probe. PRICE ACTION: During late-morning trading, shares of DreamWorks fell $3.15, or 14%, to $19.51.
News For DWA From The Last 14 Days
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October 30, 2014
10:02 EDTDWAOn The Fly: Analyst Downgrade Summary
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09:14 EDTDWAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Visa (V), up 4%... MasterCard (MA), up 2.5%... Alcatel-Lucent (ALU), up 12.5%... TASER (TASR), up 4%... JDSU (JDSU), up 3.8%... Radian Group (RDN), up 9%... DreamWorks Animation (DWA), up 1.7%... Take-Two (TTWO), up 7.7%. ALSO HIGHER: Grand Canyon (LOPE), up 10.5%, upgraded at Piper Jaffray after the company formed a committee to explore conversion to a nonprofit entity... Walter Energy (WLT), up 6.8% after lowering FY14 capital expenditures view, reporting lower than expected losses... Novavax (NVAX), up 7% after getting fast track designation for H7N9 VLP. DOWN AFTER EARNINGS: Glu Mobile (GLUU), down 16.6%... Alliance Fiber Optic (AFOP), down 18.4%... Pacira (PCRX), down 6.4%. ALSO LOWER: Sturm, Ruger (RGR), down 10% following Q3 results, cutting Q3 dividend. Peer gunmaker Smith & Wesson (SWHC) also down 3.7% after Ruger's report... Western Gas Partners (WES), down 4.4% after its 7.5M common units spot secondary priced at $70.85... ACCO Brands (ACCO), down 1.1%, downgraded at KeyBanc following the company's Q3 results... Fiat Chrysler (FCAU), down 1.1% after reported to be recalling over 300K Ram trucks due to fire concern... Inogen (INGN), down 2.3% after 2.1M share secondary offering of common stock priced at $21.50.
06:14 EDTDWADreamWorks Animation downgraded to Neutral from Buy at Janney Capital
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05:57 EDTDWADreamWorks Animation shares likely to remain range-bound, says Piper Jaffray
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October 29, 2014
18:59 EDTDWAOn The Fly: After Hours Movers
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16:14 EDTDWADreamWorks Animation reports Q3 EPS 14c, consensus 8c
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15:53 EDTDWANotable companies reporting after market close
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October 28, 2014
13:33 EDTDWAAlibaba CEO looking to make content deals with studios, LA Times says
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October 23, 2014
07:34 EDTDWADreamWorks November volatility elevated into Q3 and revenue outlook
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