DreamWorks Animation shares rise on ‘Puss in Boots’ performance
Shares of DreamWorks Animation jumped 12% on Monday after the studio’s movie “Puss in Boots” topped the box office for the second consecutive weekend.
The DreamWorks film about a feline outlaw voiced by Antonio Banderas pulled in a surprisingly strong $33 million over the weekend, with ticket sales slipping a mere 3% compared with last week. Movies usually drop substantially more in their second weekend, suggesting that “Puss in Boots” could have more staying power than was initially anticipated.
Investors responded by pushing up the company’s shares to $19.47. The gain was more than enough to make up for the loss last week when Wall Street responded coolly to the lower-than-anticipated box-office opening of “Puss in Boots.’”
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-- Richard Verrier, Los Angeles Times
Photo: title character in “Puss in Boots.” Credit: DreamWorks Animation.