Home / Street Sector / Comcast Corporation (NASDAQ:CMCSA) To Takeover DreamWorks Animation. (DWA) For $3.55B- La Quinta (NYSE:LQ)

Comcast Corporation (NASDAQ:CMCSA) To Takeover DreamWorks Animation. (DWA) For $3.55B- La Quinta (NYSE:LQ)

Comcast Corporation (NASDAQ:CMCSA) declared that it is purchasing DreamWorks Animation SKG Inc. (NASDAQ:DWA), film firm behind the “Shrek,” ”Madagascar” and “Kung Fu Panda” franchises, for around $3.55B, strengthening its presence in important and growing business of children’s entertainment.

DreamWorks stockholders will get $41 for each share they own. That’s a 24% premium to firm’s Wednesday closing price of $32.20. The companies put the deal’s value at about $3.8 billion. DreamWorks will become part of the Universal Filmed Entertainment Group, which includes Universal Pictures. The studio has churned out hit animated movies through its Illumination label, including the “Minions” sequel and it has some Dr. Seuss projects in the works such as “How the Grinch Stole Christmas.”

DreamWorks Animation SKG Inc. (NASDAQ:DWA) knocking active thrust in leading trading session, shares an increase of 24.07% to 39.95 with around 44.82 Million shares have changed hands in this session. The stock is going forward its fifty-two week low with 134.72% and lagging behind from its 52-week high price with 23.68%. Likewise, positive performance for the quarter recorded as 55.51% and for the year was 49.79%, while the YTD performance remained at 55.03%. DWA has Average True Range for 14 days of 1.59.

La Quinta Holdings Inc. (NYSE:LQ) [Trend Analysis] retains strong position in active trade, as shares scoring 6.80% to $12.56 in an active trade session. Attorney Advertising Bronstein, Gewirtz & Grossman, LLC, notified investors of class action against La Quinta Holdings Inc. (LQ). The class action has been filed in U.S. District Court for Southern District of New York on behalf of a class consisting of all persons or entities who purchased La Quinta securities pursuant to the Company’s secondary public offering on or about March 24, 2015.

The complaint alleges that the Registration Statement and Prospectus issued in connection with the SPO failed to disclose material trends, events and/or uncertainties: (1) La Quinta was suffering a declining customer demand in its key Texas market; (2) there were continuous disruptions caused by the transitioning of La Quinta’s call center operations; and (3) La Quinta was was suffering a decreasing customer demand and market share losses partially due to some of La Quinta’s facilities being out-of-date and in need of major restoration, thereby necessitating that La Quinta make significant capital expenditures and undergo operational disruptions.

While looking at the shares volume, around 5.3 Million shares have changed hands in this session. LQ attains analyst recommendation of 2.80 with week’s performance of 3.12%. Investors looking further ahead will note that the Price to next year’s EPS is 10.75%.

About Devon Leftovich

Check Also

Recommended Momentum ‘How’ and ‘Why’: PPG Industries (NYSE:PPG), Allergan (NYSE:AGN)

PPG Industries, Inc. (NYSE:PPG) [Trend Analysis] try to make new thrust in street and making different …

Leave a Reply

Your email address will not be published. Required fields are marked *