Adam, you're right about the timing of the new deal with Disney. Sorry for the mistake.
I couldn't search news as far back as Q1 1997, but here's what I found in the news for the rise that I mistook for the one relating to the new 50/50 deal with Disney:
February 1998
Even though Pixar, the Richmond, Calif.-based computer animation firm,
on Thursday released modestly lower earnings versus the year-ago period,
it's stock price -- which debuted in 1995 at $22 a share -- headed for
the moon, hitting $35 a share on Friday. That's because the company not
only reported a better-than-expected number, nine cents versus First
Call's one cent per share estimate, but also announced that its sequel
to "Toy Story" -- "Toy Story 2" -- will be shown at theaters around the
world, instead of the original plan, which called for it to be released
directly to video. Moreover, Pixar also said that it now has the
capability to make a new movie every year -- instead of one movie every
two years. Investors, analysts, and company executives cheered the news.
Indeed, the company's prospects have probably never looked better. |
