Hollywood Stocks: Lionsgate (NYSE:LGF) Biggest Loser
$LGF, $CKEC, $AMC, $DIS, $CNK, $P, $NFLX, $SNE
Lionsgate’s (NYSE:LGF) stock dove 33% in Q-1.
With a stronger-than-expected box office to start Y 2016, theater stocks outperformed in Q-1 of Y 2016, which ended Thursday.
Of the stocks followed by HeffX-LTN Carmike Cinemas’ (NASDAQ:CKEC) shares rose 31% on the back of a merger agreement with AMC Entertainment (NYSE:AMC), but AMC was up 18% on the Quarter and competitor Cinemark (NYSE:CNK) was up 8%.
Film exhibition stocks have performed very well during the Quarter. On analysts said they have come too far too fast.
Television and radio stocks have rebounded
Salem Media Group (NASDAQ:SALM) a leader in conservative and Christian talk radio, saw its shares rise 17% on strong political advertising.
Scripps Networks Interactive (NYSE:SNI), parent of HGTV, Food Network and other cable channels, experienced a 19% gainer on the Quarter, and CBS (NYSE:CBS) shares rose 17%.
Some New-media stocks also performed well.
TiVo (NASDAQ:TIVO) was up 10%, Yahoo! (NASDAQ:YHOO) shares rose 11%, both are takeover targets.
Of the losers, Lionsgate was the biggest, its stock diving 33% in the Quarter as The Divergent Series: Allegiant disappointed at the box office, as did Gods of Egypt, The Last Witch Hunter and Mortdecai.
Other losers in the Quarter include Pandora (NYSE:P), Starz, Dish, Imax, AMC Networks and Netflix (NASDAQ:NFLX), a big gainer last year.
As for Hollywood conglomerates, after CBS, Time Warner (NYSE:TWX) was the biggest gainer, its stock up 13% in the Q.
Walt Disney (NYSE:DIS) shares were down 6%, as concerns about TV, even ESPN, overshadowed the results for Star Wars: The Force Awakens. Disney’s stock had the worst quarter of any of the 7 major conglomerates.
Comcast (NASDAQ:CMCSA) was up 9% in the Quarter, Sony (NYSE:SNE) was up 5%, 21st Century Fox (NASDAQ:FOX) gained 3% and Viacom (NASDAQ:VIA) was up 1%.
The benchmark S&P 500 stock index in comparison recorded a 1% gainer for Q-1 of Y 2016.
Have a terrific weekend.
Paul Ebeling
HeffX-LTN
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