May be this is one reason for today's movement in PIXR:
April 21, 1999
Pixar Up 13%; Hambrecht & Quist Ups To Focus List Buy
Dow Jones Newswires
No further information is available at this time.
By Dwight Oestricher
NEW YORK (Dow Jones)--Shares of Pixar (PIXR) were up nearly 14% in heavy trading Wednesday morning after Hambrecht & Quist analyst Paul
Noglows raised his rating to buy-focus list from buy.
As the Point Richmond, Calif., animated-film company announces its marketing initiatives in support of "Toy Story II" and revenue from "A Bug's Life" come in, the stock should move higher, Noglows said.
"I believe that Pixar could trade above 60 between now and when 'Toy Story II' opens at Thanksgiving," he said.
The stock was recently up 4 5/8, or 13.6%, at 38 3/4 on Nasdaq volume of 432,900 shares, compared with a daily average of 177,800.
The company is expected to provide details on its "Toy Story II" marketing plans when it reports first-quarter earnings Thursday, Noglows said. Also, Pixar Chairman and Chief Executive Steve Jobs is make a presentation about the company at Hambrecht & Quist's technology conference next week.
Noglows expects Pixar to report earnings of 62 cents a share for 1999 and $1.33 for 2000, compared with 15 cents for 1998.
- Dwight Oestricher; 201-938-5266
Just my luck -- I bought PIXR last September expecting a breakout from ABL, finally lost patience yesterday and moved the PIXR cash into some net stocks. Hopefully that move will be at least as profitable.
Good luck to those of you who are holding PIXR long.
David T. |
