BURBANK FIRM ON REBOUND; FOUR MEDIA SHARES SOAR ON GOOD NEWS.Byline: Dave McNary McNary may refer to:
Stock of post-production specialist Four Media Co., which recently hit an all-time low, jumped 60 percent Thursday following a better-than-expected earnings report. Shares gained $2.25 to $6 after the company reported profits of $1.15 million, or 10 cents a share, for the fourth quarter ended Aug. 2, more than double earnings of $427,000 in the 1997 period. Revenues surged 50 percent to $34.2 million. That beat Wall Street's average estimate of 8 cents a share. Volume hit 1.42 million shares, 37 times the average volume during the past six months, and the stock's heaviest trading day In Business, the trading day is the time span that a particular stock exchange is open. For example, the New York Stock Exchange is, as of 2006, open from 09:30AM to 4:00PM. Trading days never take place on weekends. ever. Until Thursday's rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective , the stock's share price had lost more than half its value since the market crested in mid-July. ``I've always maintained that this is a company that should be trading in the low teens,'' said analyst Stewart Halpern of ING Barings Furman Selz. ``I think it's been hurt because the investment community has had a nasty experience with other post-production stocks.'' Burbank-based Four Media went public at $10 in February 1997 with the goal of becoming Hollywood's leader in one-stop production services such as editing, mixing, language translation and conversion to overseas technical standards. It has been aggressively buying rivals such as film-editing specialist MSCL Mscl Miscellaneous MSCL My So-Called Life (TV show) MscL Mechanosensitive Ion Channel MSCL Multi-Sensor Core Logger MSCL Mandeville Special Collections Library (University of California, San Diego) for $68 million, Pacific Ocean Post for $27 million and Video Symphony symphony [Gr.,=sounding together], a sonata for orchestra. The Italian operatic overture, called sinfonia, was standardized by Alessandro Scarlatti at the end of the 17th cent. for $5.5 million. |
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