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Wednesday, Nov 29, 2023

Weak “Guardians” Box Office Drops DreamWorks Shares

Shares in DreamWorks Animation SKG Inc. fell on Monday for a fourth consecutive day following a weak opening weekend for its latest film, “Rise of the Guardians.” The 3-D film, based on a popular children’s book series, brought in $32.6 million in U.S. box office receipts, which made it the fourth-highest grossing film for the weekend, according to Box Office Mojo, an online reporting service. The box office was well under Hollywood projections, which were above $50 million. Wall Street analysts now say the film has to have to perform better overseas to prevent it from being a write-down for the Glendale animation studio. The film had a production budget of $145 million, according to Box Office Mojo. Shares lost 94 cents, or 5.2 percent, to close at $17.11on the Nasdaq. DreamWorks Animation shares were last in the $17 range in early September. Shares were $19.64 on Nov. 20, the day before the movie opened.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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