May 24, 2013 |
Underscoring the troubled financial health of print media, News Corp. said it would record a non-cash impairment charge of $1.2 billion to $1.4 billion during the current fiscal quarter to reflect diminished value of its publishing assets. The company, which owns the Wall Street Journal, New York Post, the Times of London, the Australian and the HarperCollins book publishing house, made the disclosure Friday afternoon in a filing with...
February 26, 2013 |
DreamWorks Animation SKG said it would take an $87-million charge on last year's holiday movie "Rise of the Guardians," marking the largest write-down the studio has ever taken for one of its own movies. Analysts had estimated that the studio would take a write-down of from $70 million to nearly $100 million on the film, which represented a rare box-office misfire for DreamWorks, creator of the popular "Shrek," "Kung Fu Panda" and "Madagascar" films. "Rise of the Guardians," which cost about $145 million to make, has generated $302 million in global box-office ticket sales since its debut in late November, well short of a typical DreamWorks Animation movie.
January 2, 2013 |
DreamWorks Animation may end up losing nearly $100 million on its recent holiday release "Rise of the Guardians. " That's the sobering prediction of Lazard Capital Markets analyst Barton Crockett. In a research note on Wednesday, Crockett said he expects the Glendale-based studio will take a $96 million write-down on "Rise of the Guardians," which has been a rare box office flop for DreamWorks. 'Rise of the Guardians,' which cost about $145 million to make, has generated $261 million in global box office ticket sales since its debut in late November, well below that of a typical DreamWorks Animation movie. The movie -- about a group of folk heroes, including the Tooth Fairy and Santa Claus, who join forces to protect children from an evil nemesis -- has yet to open in New Zealand, Poland, Turkey and Japan.
December 6, 2012 |
NEW YORK - Citigroup's move to sack more than 11,000 workers may foreshadow bigger cuts as its newly installed chief executive shakes up the lumbering Wall Street behemoth. The New York bank's restructuring - coupled with a $1-billion write-down in the fourth quarter - came as Citi, like other financial giants, suffers through a hangover from the housing meltdown and struggles to adjust to the resulting regulations. "This is simply just the beginning," said Todd Hagerman, an analyst at Sterne Agee.
November 21, 2012 |
Could it get any worse for hobbling Hewlett-Packard Co.? HP's stock plummeted 12% on Tuesday to its lowest price in a decade after the company said it was writing off $8.8 billion because it was duped into overpaying for a British software maker. The surprise revelation came as HP reported another quarterly loss and gave a weak first-quarter outlook. "The magnitude of the charge is pretty enormous," said Jayson Noland, senior analyst at Robert W. Baird & Co. "It's really bad and it's really expensive and it's really distracting.
November 17, 2012
The Greater Good Science Center at UC Berkeley is making it easy to try out a gratitude journal, with an interactive online project launched this month that's shareable on social media. At http://www.Thnx4.org , anyone can sign up for a two-week journal plan that includes prompts to get your grateful thoughts flowing. It also includes a survey so researchers can mine the data to look at the effects of gratitude in many specific ways, Emiliana Simon-Thomas, who, with Robert Emmons of UC Davis and others, developed the $5.6-million project, said Thursday.