Pixar Movie a Hit But Pixar Stock Flops

By Jack November 30, 1999 2:01 PM

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In what several analysts regarded as a case of "buying on the rumor, selling on the news," shares in Pixar Animation dropped 2 7/16 to 44 3/16 Monday, despite the weekend stampede at the box office.?Some analysts expressed surprise at the strong downturn.?CNNfn on Monday featured an interview with Katherine Syponias of Prudential Securities, who remarked: "I'm baffled, given the strength we saw in the box-office numbers." The financial news channel also quoted an unnamed analyst who said, "I don't know what [investors] who are selling this one are thinking." In an interview with USA Today, John Shaw, president of box-office trackers Movieline International, predicted that Toy Story will earn at least $225 million domestically over the course of its run, while, in an an interview with the New York Post, BancBoston Robertson Stephens analyst William Meyers forecast that the figure will reach $400 million.?

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