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Stock Market & Financial Investment News

News Breaks
March 25, 2014
15:51 EDTCNK, AMC, CKEC, IMAX, RGCMPAA says global box office grew to $35B in 2013, LA Times reports
A report from the Motion Picture Association and the National Association of Theatre Owners estimated that global movie ticket sales climbed to a record $35B in 2013, with international markets accounting for $25B of that figure, reported The Los Angeles Times, citing a presentation by the chairman of the MPAA at the annual CinemaCon trade show. Publicly traded companies in the movie industry include IMAX (IMAX), AMC Entertainment (AMC), Carmike Cinemas (CKEC), Cinemark (CNK), and Regal Entertainment (RGC). Reference Link
News For IMAX;AMC;RGC;CKEC;CNK From The Last 14 Days
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December 18, 2014
10:19 EDTIMAXSony hack fallout highlights value of IT security spending, analyst says
The hacking of Sony's (SNE) Sony Pictures unit shows that spending more on IT security is worthwhile for companies, Wells Fargo analyst Gray Powell wrote in a note to investors today. WHAT'S NEW: Sony has decided not release the film "The Interview" as planned on December 25, due several theater chains' plans to not show the movie amid threats, CNBC reported. The New York Times said American intelligence officials have determined that the North Korean government was “centrally involved” in the cyber attacks on Sony Pictures. Sony's experience shows that being hacked is much more costly than spending on IT security, Powell stated. After being hacked, Sony has had to cancel the release of its film "The Interview," which it spent $ 42M to make, and it will have to spend more money on fixing the security breach and defending itself against lawsuits triggered by the incident, the analyst stated. Additionally, the company's brand has been damaged, Powell believes. By contrast, Sony spends just $20M per year on IT security, the analyst roughly estimated. Incidents like the hacking of Sony will cause companies to spend a higher percentage of their budgets on IT security next year, according to Powell. He kept Outperform ratings on IT security companies Check Point (CHKP), FireEye (FEYE), Fortinet (FTNT), Palo Alto (PANW), and Proofpoint (PFPT). WHAT'S NOTABLE: Analysts at B. Riley said IMAX (IMAX) and RealD (RLD) could benefit from Sony's cancellation of "The Interview" due to the demand shift towards their respective film slates. The analyst believes both IMAX and RealD could generate an incremental 1c in EPS during the period. PRICE ACTION: In early trading, FireEye jumped 5% to $30, Palo Alto advanced 3.2% to $123.87, Proofpoint gained 2% to $47.87 and Check Point climbed 1.4% to $78.16.
07:23 EDTIMAXIMAX and RealD could benefit from The Interview cancellation, says B. Riley
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December 17, 2014
17:37 EDTCKECCarmike Cinemas delays exhibition of "The Interview" due to Sony cyber-attack
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14:36 EDTCKECCarmike Cinemas rallies, remains in longer-term downtrend
The stock is rallying, last up 3% to $25.66. At that price the stock is still within the downtrend channel that began to develop late in November. It would need to break above the $26.50 level to breach the top of the channel. Support is at $25.33.
07:45 EDTAMCAMC Entertainment named top pick at Stifel
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06:07 EDTCKECCarmike Cinemas pulls screenings of Sony's "The Interview," AP reports
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December 16, 2014
07:52 EDTCKECCarmike Cinemas sell-off overdone, says B. Riley
B. Riley said the sell-off in Carmike has been excessive and views valuation as attractive ahead of the 2015 film slate and catalysts. Shares are Buy rated with a $40 price target.

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