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March 21, 2014
13:44 EDTLGFLionsgate slides ahead of 'Divergent' opening weekend
Shares of entertainment company Lionsgate Entertainment (LGF) are sliding ahead of the wide release of the company's latest film, "Divergent," in U.S. theaters. WHAT'S NEW: Lionsgate's "Divergent," which is the first film in what the company hopes will be its next blockbuster teen movie franchise, is set to debut this weekend. Lionsgate has previously had success with the "Twilight" series of films and the first two movies in "The Hunger Games" trilogy. A report from online entertainment magazine Variety projects the film's domestic opening grosses to be "in the same realm" as the first "Twilight" film, which opened at $69M. Variety believes "Divergent" will earn over $60M this weekend. However, The Los Angeles Times gave a more cautious estimate this morning, predicting that the film could gross $55M or more in ticket sales throughout the U.S. and Canada. WHAT'S NOTABLE: In a note to investors yesterday, Stifel analyst Benjamin Mogil predicted that revenue from “Divergent” would exceed the amount implied by the company's guidance. Mogil expects the film to generate $175M in revenue and said if Lionsgate obtains $140M or more from the movie, that the company will likely increase its 2013-2015 outlook. PRICE ACTION: During afternoon trading, shares of Lions Gate fell by $1.60 or 5.34% to $28.35.
News For LGF From The Last 14 Days
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November 23, 2015
08:35 EDTLGFLionsgate shares likely to recover after box office miss, says Piper Jaffray
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07:09 EDTLGFLionsgate estimates lowered below guidance at Stifel
Stifel lowered its estimates for Lionsgate below guidance following a weaker than expected opening last weekend for the company's "Hunger Games: Mockingjay Part 2" film. However, the firm thinks that M&A expectations will somewhat offset the pressure on the stock that will be caused by the film;s weak showing. Stifel keeps a $42 price target and Buy rating on the shares.
November 22, 2015
19:54 EDTLGFAs 'Hunger Games' end, Lionsgate places bets on TV, other media, WSJ says
In the wake of the final installment in its "Hunger Games" film property, Lionsgate is making an "array" of bets across its movie and TV businesses as well as new areas like videogames and live events, reports the Wall Street Journal, citing sources. "The Hunger Games," a dystopic science fiction series starring Jennifer Lawrence, has been a "significant factor" in the rise of Lionsgate shares over the past several years, said the publication, and B. Riley analyst Eric Wold told the Journal that "people have been concerned about this 'Hunger Games' cliff for a long time." Lionsgate hopes its combined initiatives will fill the void represented by the conclusion of the series as well as make up for recent flops like "The Last Witch Hunter," the publication explains. Reference Link
16:22 EDTLGF'Hunger Games' finale opens below series average
Though showing clear dominance in the box office rankings, the final film in the "Hunger Games" saga missed analyst estimates in its domestic open. WEEKEND LEADER: Lionsgate's (LGF) "The Hunger Games: Mockingjay - Part 2" debuted at $101M domestically for the weekend of November 22, missing expectations for $120M-$127M and coming in markedly below the series' $144M first-weekend average. The final entry in the dystopic science fiction tetralogy also saw a weaker open than last year's $121M launch for "Mockingjay - Part 1," though reviews have been slightly stronger. BOX OFFICE RUNNERS-UP: Sony's (SNE) latest James Bond outing "Spectre" slipped to second place at the U.S. box office with $14.6M, while Fox's (FOX, FOXA) "The Peanuts Movie" took in $12.8M. Rounding out the weekend's Top 5 were Sony's "The Night Before" and STX's "The Secret In Their Eyes," with the two newcomers earning a respective $10.1M and $6.6M.
November 20, 2015
16:28 EDTLGFJohn Malone reports 3.3% stake in Lionsgate
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16:23 EDTLGFLiberty Global reports 3.4% stake in Lionsgate
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16:12 EDTLGFLionsgate files to sell 1.52M common shares for holders
11:45 EDTLGFBox Office Battle: 'Hunger Games' finale expected to top box office
Lions Gate's (LGF) "The Hunger Games: Mockingjay - Part 2," the final movie based on the dystopian young adult novels, is opening this weekend at 4,175 theaters and is expecting a domestic gross in the range of $120M-$127M. Piper Jaffray analyst James Marsh said in a note to investors on November 18 that he expects the film to open domestically in the $130M range, above where it is tracking, due to limited competition and the addition of IMAX (IMAX) screens. Piper maintained its Overweight rating and $45 price target on Lions Gate shares at that time. "The Hunger Games" main competition is "Spectre" and "The Peanuts Movie," both of which are in their third weekend of release. Sony's (SNE) "Spectre," starring Daniel Craig as James Bond, is expected to earn another $15.2M-$16.8M. Fox's (FOX, FOXA) G-rated family film, starring a 3D-animated Charlie Brown, is predicted to earn an additional $12.5M-$13.2M. In other box office news, the Wall Street Journal reported that Disney's (DIS) "Star Wars: The Force Awakens," which hits theaters on December 18, has had record-breaking pre-sales. Fandango said the film has already sold more tickets than any other movie before its release, which is still four weeks away, and IMAX said the movie has "doubled" its prior pre-sales record of about $9M. Other publicly traded companies involved in filmmaking include Comcast (CMCSA, CMCSK), Time Warner (TWX), and Viacom (VIA, VIAB).
November 19, 2015
16:05 EDTLGFLionsgate extends contracts of co-COO and Chief Strategic Officer
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November 16, 2015
17:10 EDTLGFSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).
15:53 EDTLGFJANA Partners reduces stakes in Rackspace, Qualcomm
JANA Partners gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Mattel (MAT), Zoetis (ZTS), and Aramark (ARMK). INCREASED STAKES: ConAgra Foods (CAG). DECREASED STAKES: Rackspace (RAX), Qualcomm (QCOM), Time Warner (TWX), Starz (STRZA), and Lions Gate (LGF). LIQUIDATED STAKES: Johnson Controls (JCI), Precision Castparts (PCP), AerCap Holdings (AER), United Rentals (URI), and HD Supply Holdings (HDS).
November 15, 2015
17:09 EDTLGF'Spectre' stays uncatchable while Christmas-themed 'Coopers' outperforms
"Spectre" and "The Peanuts" remained in first and second place, respectively, at the domestic box office while Christmas comedy "Love The Coopers" topped expectations heading into the holiday period. WEEKEND LEADER: Sony's (SNE) "Spectre" grossed $35.4M in the U.S. for the weekend of November 15, falling roughly 50% from its $73M domestic open. Globally speaking, the latest James Bond film has pulled in $543.8M in just its second week at the box office. BOX OFFICE RUNNERS-UP: Fox's (FOX, FOXA) "The Peanuts Movie" earned $24.2M, as Charlie Brown and friends fell somewhat short of analyst expectations for $28.7M. Meanwhile, Lionsgate's (LGF) Christmas-themed comedy "Love The Coopers" debuted at $8.4M, beating estimates of $5.2M-$8M despite harsh reviews. Rounding out the weekend's Top 5 were Fox's "The Martian" with $6.7M and newcomer "The 33" at $5.8M. Analyst expectations ranged $5.5M-$10M for the disaster survival drama from Time Warner's (TWX) Warner Bros.
November 13, 2015
11:38 EDTLGFBox Office Battle: 'Spectre,' 'The Peanuts Movie' expected to remain on top
Sony's (SNE) "Spectre," starring Daniel Craig as James Bond, is again expected to top the box office in its second weekend at theaters, with an estimated domestic gross in the $30.3M-$32.4M range. Fox's (FOX, FOXA) G-rated family film "The Peanuts Movie," starring a 3D-animated Charlie Brown, is again likely to come in second, predicted to earn an additional $28.7M. Newcomer "The 33," a drama retelling the true story of the Chilean miners that were trapped underground in 2010, is expected to open between $5.5M-$10M in 2,400 theaters. "The 33" is being distributed in North America by Time Warner's (TWX) Warner Bros. Pictures, and in Latin America by Fox's 20th Century Fox. Holiday dramedy "Love the Coopers," starring John Goodman and Diane Keaton, is estimated to open in the $5.2M-$8M range. "Love the Coopers" is being released in 2,603 theaters by Lionsgate (LGF) and CBS's (CBS) CBS Films. Fox's "The Martian," which opened on October 2, is predicted to earn an additional $6M-$6.8M. Other publicly traded companies involved in filmmaking include Comcast (CMCSA, CMCSK), Disney (DIS), and Viacom (VIA, VIAB).
09:27 EDTLGFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Blue Buffalo (BUFF), up 8.2%... Applied Materials (AMAT), up 3.8%... Planet Fitness (PLNT), up 9.8%... Lipocine (LPCN), up 16.2% after reporting quarterly results and that the FDA has assigned a Prescription Drug User Fee Act goal date of June 28, 2016. ALSO HIGHER: Mylan (MYL), up 10.9% after Perrgo (PRGO) shareholders did not tender enough shares for the hostile takeover bid to succeed... Plug Power (PLUG), up 7.3% after entering into a strategic supply agreement with 3M (MMM)... Yum! Brands (YUM), up after reporting that October China Same-Store Sales are up 5%. DOWN AFTER EARNINGS: Fossil (FOSL), down 24.5%... Fossil (JWN), down 20.6%... El Pollo LoCo (LOCO), down 15.1%... Cisco (CSCO), down 4.1%.... Tyco (TYC), down 4.1%... J.C. Penney (JCP), down 6.8%. ALSO LOWER: Fitbit (FIT), down 8.4% after 17M share Secondary priced at $29.00... GameStop (GME), down 8% after being downgraded to Sector Weight from Overweight at Pacific Crest... Lions Gate (LGF), down 2.6% after 3.4M share Spot Secondary priced at $39.43... Perrigo is down 10.5% after shareholders did not tender enough shares for the hostile takeover bid to succeed.
08:52 EDTLGFUpdate: Lionsgate 3.4M share Spot Secondary priced at $39.43
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06:19 EDTLGFLionsgate 3.4M share Spot Secondary priced at $39.02
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November 12, 2015
22:27 EDTLGFLiberty Global, Discovery acquires shares of Lionsgate
Liberty Global (LBTYA, LBTYK) and Discovery Communications (DISCA) have each purchased 5M common shares of Lions Gate (LGF), resulting in each having an approximately 3.4% shareholding of Lionsgate's current outstanding Common Shares. The 10.0M Common Shares were acquired from funds affiliated with MHR Fund Management. Liberty Global and Discovery Communications each paid approximately $195M for their respective stake in Lionsgate representing a purchase price of approximately C$52.68 per Common Share based on current exchange rates. Liberty Global and Discovery Communications purchased the securities for investment purposes only.
17:05 EDTLGFLionsgate announces offering of 5M shares related to Liberty Global deal
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16:52 EDTLGFLionsgate files to sell 5M shares related to Liberty Global deal
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16:13 EDTLGFLionsgate makes strategic investment in Pilgrim Studios
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