DreamWorks Animation shares fall after ‘Rise of the Guardians’ poor debut
Shares of DreamWorks Animation took a hit in the wake of a poor box office debut for “Rise of the Guardians.”
DreamWorks’ stock fell as much as 5.8% on Monday after some analysts warned that the Glendale-based studio could be forced to take a significant write-down on its latest computer animated movie.
The 3-D movie pulled in $32.6 million over the five-day Thanksgiving holiday period, marking a rare misfire for a studio that has reaped big rewards from its “Madagascar,” “Shrek” and “Kung Fu Panda” films.
That’s the worst debut for a DreamWorks animated movie since 2005’s “Wallace and Gromit: The Curse of the Were-Rabbit” and 2006’s “Flushed Away,” which were both co-produced with British-based Aardman Animations.
-- Richard Verrier, Los Angeles Times